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.

Said it was worth a punt.

Sorry off thread but ROS Ramco may be worth looking at this week. DYOR.

RNS Number : 2488T
Nighthawk Energy plc
03 June 2009

Nighthawk Energy plc

Quantification of the Devon Oilfield and Buchanan Group Waterflood Projects

Well Status at Devon Oilfield and Buchanan Group Projects

The directors of Nighthawk Energy plc ('Nighthawk' or 'the Company') (AIM : HAWK), the US focused hydrocarbon production and development company are pleased to announce the quantification of the Company`s subsurface assets in respect of the Devon Oilfield ('Devon') and Buchanan Group ('Buchanan') waterfloods and a well status report on both projects.

Nighthawk holds an 80 and 50 per cent. working interest in the Devon and Buchanan projects respectively. The operator, Running Foxes Petroleum Inc., holds the remaining equity.

The last 18 months has seen ongoing major drilling campaigns being conducted on both projects. Numerous wells have been drilled and in-house evaluations completed. Nighthawk is now in a position to mandate third party expertise to provide an independent review in respect of the Devon and the Buchanan projects as part of the overall strategy to define value within the portfolio.

Oilfield Production Consultants Ltd ('OPC') has been commissioned by Nighthawk to complete this exercise which will also include the calculation of the oil in place ('OIP') in the core areas of the projects as well as in the peripheral areas where development is ongoing. OPC are calculating the OIP in the reservoir intervals using both probabilistic and deterministic methods. These exercises include the review and assessment of open hole log analysis, core and production data, reservoir rock petrophysical properties and the determination of reservoir fluid saturations and productivity.

In addition, 3-D Petrel petrophysical models are to be generated. These models will provide information to calculate the OIP, provide 3-D visualisation of the prospective waterflood intervals and assist in the compilation of structure and net isopach maps.

Analysis for the first of these reports covering the Devon project is well advanced and the current preliminary results are considered to be well in line, if not markedly better, than Company expectations. Final results are anticipated before the end of June.

Evaluation for Buchanan, which is a considerably larger project area than Devon, is underway. Results of this study are expected during Q3 2009.

Well Status at Devon Oilfield and Buchanan Group Projects

Devon

The Devon project covers an area of approximately 3,000 acres and is located in Bourbon County, Kansas.

138 wells have been successfully drilled or currently permitted on the project, of which the status is as follows:

* Producing 54

* Awaiting completion 43

* Shut in 7

* Injection 16

* Permitted 18

Buchanan

The Buchanan project covers approximately 32,000 acres and is located in Vernon and Bates Counties, Missouri.

109 wells have been successfully drilled or are currently permitted on the project, of which the status is as follows:

* Producing 39

* Awaiting completion 36

* Injection 7

* Permitted 27

Both Devon and Buchanan projects are at various stages of water injection. Primary oil and natural gas production continues on both projects and product is being sold. Once the impact of this water injection process takes effect the expected production rates range between 5-20 barrels of oil per day per well.

For optimum recovery, wells are orientated in a 'five spot' pattern on ten acre spacing at Devon and Buchanan. On this basis there are in excess of 3,500 potential well sites within the current project area.

Pipelines, surface facilities, pump jacks and other production infrastructure continue to be installed at both projects and drilling is ongoing.

Managing Director, David Bramhill, commented 'To now be in a position with Devon and Buchanan to be able to obtain independent opinion in respect of our subsurface resources is a major step forward and a further milestone in Nighthawk`s project development plan. Preliminary indications of oil in place at Devon, as calculated by OPC are particularly pleasing and support the pace and magnitude of the development programmes being seen at Devon and the nearby Buchanan project.

BUY HAWK at 43p...seriously undervalued now.

Says who?

omg......this muppet is back again......no info but just silly predictions which are usually wrong

some strange and arguably nasty things happening here ...... not only has sp bombed, but volume is 14m already against a daily norm of just 3.5m

the knife jugglers may perceive this is as a total anomaly and thus an excellent buying opportunity ..... and imo, they could well be right, but not convinced i want more

all quite curious ..... albeit far from 100% accurate, the trades shown on this site indicate buys/sells pretty much in balance and certainly IG's book still full.

pays yer money, takes yer choice

Could be the MM's trying to force price down to the intersection between 200 and 50 ma lines and now they are trying to kid you that the sp isn't going to rise again ie they want you to panic and sell.

That's the only explanation I can think of, unless there is a big seller in the market.

Not much production...that could be the problem.....!.

david bramhill doesnt have intention of that yet.....he's proving up the various fields and he needed money for that which he now has.

bad call yesterday cynic.....thankfully i bought in 20s so still chilled out.....still think thjis will be 60p plus in good time

Stopped out yesterday at 41p - Next support could be around 35p where I have my buy order. But of course I could be completely wrong, 40p is roughly a 50% Fib retracement, so may find support here. Price will tell us in due course.

yes marni, my buy at 49 was certainly bad timing, and even the further knife-catching attempt yesterday at 41.25 was a bit premature, but recovery seems to be underway, and volumes again are huge ...... strange selling yesterday; perhaps forced for some reason, but certainly clumsy

i can assure you david bramhill is VERY ANGRY AGAIN with share price and city reaction......he assures that jolly alone is 50p min from rns this week and thats without anything else.

41p is decent buy, actually in a few weeks it will be a good buy.

my advice is hold to this one as its not a share that will rocket, it sort of nudges up and down but now in uptrend this year

You are right, marni. I bought yesterday, now in profit.

also, he predicts 500 million to 1 billion $ company at LEAST........so i dont care what happens day to day

i bought these babies in the 20s

DB can get as cross as he likes, but a pretty infantile reaction it has to be said

silly statement cynic...........anyway db hates mm's etc. he was angry from last year but i doubt you know anything about the company even though you buy shares.

also, he is lot more powerful than your man and dog company......i assume the dog does all the work.

at the end of the day DB is merely CEO and does his and the company's image no favours at all by throwing his toys around .... as i said before, totally infantile

as for me, in many ways you are right, for i care not whether the company is into falconry or donkies ..... my only concern is to try to determine whether the share price is more likely to go up than down ...... if you are honest with yourself, you will concur that that is the whole (only!) point of buying or selling shares in the first place.

cynic that was a bad statement to make, calling DB that.
I expected more from you and hope you'll edit that off.
Nash.