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.

i suppose if you get enough wells producing +/-100 bopd you eventually end up with something worthwhile, but today's rns does (should) not set anyone's heart racing

you speak for whole world as usual it seems cynic

market says correctly so .... 34.0/34.25 = no change from friday

ditto!

cynic, the news is excellent to those in the real world, who know a standard waterflood over such a large area is a rather slow process. It looks all the more so to people who don't really understand the oil business, yet hear of 'gushers', '000's of barrels a day' in companies like GKP. Of course, there is simply no comparison, pure chalk and cheese, even though the waterfloods may end up far more profitable.

I think the new reservoir is a pleasant and unexpected bonus, very interesting, as the primary rate over just three wells is outstanding. I think there will be much more to say on this in the very near future - clearly just enough was said about it for legal purposes of the rns.

It really is a case of this week or next (imho) for the first ideas of just what the JR project is capable of delivering on a fracced sideways drill. I have a figure in mind but I will resist lest be called a ramper. But if it does go the way I suspect then it will change everything, as the worry over how much will actually extract commercially from the huge JRP field will be tentatively pointed to enough for fence-sitters to invest.

Pretty poor results for a company with a market cap of around 90m. Revenue of only 300k admin expenses over 1.5m, directors doing very well shareholders not so well!

stick to ur building society halifax.....are u the speccy chap?

seems you and cynic wrong on this but nothing new here......market now up almost 10% since news this week

http://www.growthcompany.co.uk/news/1080047/nighthawk-expands.thtml

speaks for itself - & agree with you marni

Look at the intangible figure in their balance sheet and then you might realise how much their farm land is really worth. Unless of course they manage to produce a few buckets of oil!

have u not been sacked from halifax yet........how many tens of billions is that silly yorkshire building society losing

so are many shares ..... as i have previously posted, i hold these, but with no great enthusiasm or even expectation in the foreseeable .... would be delighted to be significantly wrong

HAWK's latest accounts show a net asset value of 49m of which 38m are intangibles what can justify a market cap of 90m with a turnover of 300k ,investors beware.

Buying in tomorrow.
At least they have a load of cash (over 20m) to develop these $bn assets which in these times is a plus.

i will continue to hold and buy at right price - this is worth a read from independent today: http://www.independent.co.uk/news/business/sharewatch/investment-column-nighthawk-will-emerge-from-the-pack-1799252.html

read it earlier and confess surprise at its bullishness and especially that some broker has put out a valuation of 225 (but without a time limit!)

i've read other reports with higher sp.........who cares about time limit.....suppose its 11am or 3.30pm with you cynic with us other mortals looking at about 12 months ahead but i bet i know who is winning, lol

market digesting this week news and now up more than 5p, more than 15% up now since news

now 40p.........6p up since news

yep onwards & upwards!

41p!
market now sensibly realising news and getting this right.......unlike cynic who reacts immediately with comments