Pre IPO price 4p
Opening price on debut 25p
Floatation price 46p to raise 14million to extend Jolly Ranch
Current fair value estimate 114p
Market cap 70.59 million.
Value of Cisco Springs investments 98 million.
Value of Vogel investments 75 million.
Desparado trucking now Nightfox 250,000 for a 50% stake with partner Running Foxes.
Centurion Project Kansas, 150,000 for a 50% stake.
Jolly Ranch Colorado, 40,000 acres cost 356,000 for a 50% stake.
Cash in bank 7.75 million.

As this EPIC opens on AIM today anything could happen. On the one hand you have traders trying to cash in a sixfold profit. You will also have a clambering of traders after shares because, firstly they could only get 75% of their allocation because of demand. Secondly at 25p this company is still way under valued.

cynic, holiday good?

not a holiday old chum ..... only had a bare day off in 2 weeks, but good fun and a most productive trip

as long as you had a good time and safe and pleasant trip

anyway, good start so far for the hawk

I wonder if they are holding out until near end of day's trading so that this gets coverage over the weekend?

Fill Yer boots.

all very strange .... sp has tanked (have topped up at 49.25) though there is no obvious reason and IG advise not their peeps dumping stock either

cynic perhaps the terms and value of the deal are considered rather underwhelming in relation to HAWK's market cap?

maybe ...... damned if i know ..... far too complicated for my little brain

Perhaps it's 'buy on the rumour and sell on the news' activity?

Well as I suggested it was AST/SS.

Ascent doing well, they get 4% of the Jolly Ranch free as payment for their work for SS on this project.

Whats not so good for HAWK is, IMO, very good for AST/SS.

seemingly not such a dumb move of mine as sp (bid) has moved back up quite smartly to 52.50

And should continue northwards. IMHO, DYOR.

Seems to be a fair valuation of HAWK's half share in Jolly Ranch.

As another board suggested, now we can get back to a slow and steady sp rise on the back of fundamentals, good crude prices and steady positive progress news reports.

All this pump and dump from hot money the past few months was very tiresome - most of the T20 brigade don't even know who Steve Tedesco or David Bramhill are, such is their lack of intent towards any real investment. They have scampered off now towards the next target.

furthermore, why should they care?
there is nothing commendable in holding a share ad infinitum, nor for that matter, anything reprehensible about trading in/out when there is a decent profit to be taken
stupidity is holding a share when it persists in misbehaving and/or not taking prudent profits and then watching them dribble away

cynic are you suggesting the "fun" is over?

quite possibly but worth waiting a few days lest there is just some stock overhanging the market

This was sent out today from GE&CR:

The sale of part of Nighthawks Jolly Ranch project to Swiss based investment company San Severina Holdings SA, announced today, fully justifies all site work to date and provides a compelling endorsement of Nighthawks operations. Jolly Ranch is jointly owned by Nighthawk and Running foxes and the Purchase, Sale and Option agreement with San Severina to acquire a 20% interest in the entire Jolly Ranch project could be worth up to $39.98 million net to Nighthawk.

The entire Jolly Ranch project covers 282,000 net acres in Elbert, Lincoln and Washington Counties, Colorado, USA and was 50% owned by Nighthawk and 50% owned by operator Running Foxes. The initial sale of a 20% working interest in the core Jolly Ranch project (c.50,000 net acres) to San Severina comprises 10% from each of Nighthawks and Running Foxes interests. San Severina also receives an option to acquire a 20% working interest in the remaining six blocks of the Jolly Ranch project (c.232,000 net acres) including Middle Mist and Mustang Creek, again contributed 10% each from Nighthawks and Running Foxes interests.

In exchange for its initial stake in the core Jolly Ranch area and an option over the remaining licences, Nighthawk will receive $10.94 million from San Severina. Should San Severina exercise its option over the remaining licences, Nighthawk will receive a further $29.04 million, taking the total consideration for Nighthawks 10% Jolly Ranch stake to $39.98 million, and effectively valuing the entire Jolly Ranch project at c.$400 million. Although no time frame has been mentioned for the exercise of the option, payment of the initial consideration is due for completion by the 15th of June.

AIM-listed Ascent Resources plc is due to receive 4% of Jolly Ranch from San Severina and will manage San Severinas remaining 16% interest in Jolly Ranch, while current operator Running Foxes will stay on in its current capacity. Going forward, all drilling and development costs will be funded in line with each partners project interests 40% Nighthawk, 40% Running Foxes and 20% Ascent/San Severina. Nighthawks managing director David Bramhill is understandably delighted at the agreement with the new partnership intend(ing) to accelerate the development of Jolly Ranch, which we believe to be a world class project in the making.
The sale and option agreement, although diluting Nighthawks holding in Jolly Ranch, brings in another partner to help fund what is turning into a major project. The transaction offers an initial attractive benchmark for the Jolly Ranch project and values it at $399.8 million - $199.9 million net to Nighthawk, based on its pre-deal 50% interest. It is feasible that further transactions will be executed at a multiple of this price when development expands to the Middle Mist area and an independent review of the resource base of Jolly Ranch is compiled. With 265.5 million shares in issue, Jolly Ranch (and the cash received from this transaction) alone is worth $0.75 per share (47p at a USD/GBP exchange rate of $1.6) to Nighthawk. With net cash (excluding this deal) of 5p per share on the Nighthawk balance sheet, the remainder of Nighthawks projects, a number of which offer the prospect of material near term production, are effectively valued at nil. This is now a low risk investment given the concrete, proven, asset backing and our stance remains buy with a target price of 101p. GE&CR is set to produce a detailed note on Nighthawk shortly, and we expect to increase our target price in that note. Buy.

am now rather happier that i topped up yesterday