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.

Can someone smarter than explain what is up with this stock. I have heard rumour of a re-rating and a target price north of 200p but looking back through trading statements I can't see any way that number can be justified.

I have traded it a few times for modest gains but is it worth holding in the long run?

All type of rumours circulating today after gains on th SP >>>>>>>>>.

DB is in the US on Osceola business
A larger 'W' formation arriving
There is one RNS forthcoming
L2 gone heavy and stronger on the bid
there to be resistance at 40

likely answer .... freak rise followed by usual doldrums and gradual subsidence

news out

What news?

News Here.

26 January 2010

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

JOLLY RANCH UPDATE


Nighthawk Energy plc, the US focused hydrocarbon development and production company (Tickers: AIM: HAWK and OTCQX: NHEGY), is pleased to announce an update in respect of the winter drilling programme on the Jolly Ranch project.

The Jolly Ranch project, covering approximately 370,000 gross acres, comprises three areas, Jolly Ranch, Middle Mist and Mustang Creek, situated in Lincoln, Elbert and Washington Counties, Colorado. Nighthawk holds a 50% interest in the project and Running Foxes Petroleum Inc., the operator, holds the remaining percentage interest.

In July 2009, Schlumberger Data & Consulting Services completed an independent evaluation of the hydrocarbons in place at Jolly Ranch and concluded:

The P50, or most likely, oil in place over the 246,000 project acres evaluated, using probabilistic methods, was 1.462 billion barrels gross

There is reasonable certainty of reservoir and source rock continuity at least in the detailed model area that includes the Craig and Jolly Ranch fields

Five new vertical wells and one horizontal section, drilled using an existing vertical well, have been drilled on the Jolly Ranch project during the winter drilling campaign. This brings the total number of deep wells drilled on the Jolly Ranch project to 15, two of which will be utilised as water disposal wells. In aggregate, the 15 wells encountered in excess of 150 oil bearing horizons in conventional and non-conventional zones.

The results from the recent drilling programme have demonstrated source rock and reservoir continuity of the Atoka and Cherokee shales. In addition, the estimated oil in place figures per well confirm or exceed those indicated within the independent report, thus reinforcing confidence in the financial viability of the Jolly Ranch asset.

The project has now advanced to a stage where completion techniques, refined over the past twelve months will now be applied to all the drilled wells. This will promote optimum production from this new oil play in the carbonaceous shales of the Atoka and Cherokee formations of the Denver Basin, the main focus of the project.

The current status of the wells drilled during the winter programme is:

Craig 4-33

The Craig 4-33 well has been cased as a producer and completed in the Lower Atoka formation between 6,839 and 6,977 feet and tested at an average rate of 130 bopd over a sustained two week period. The well will now be placed on full production.

The Cherokee formation, which also encountered significant oil during drilling, will be completed at a later date to enable co-mingling of production.

Craig 10-28

The Craig 10-28 well has been cased as a producer and is currently undergoing completion in the Lower Atoka formation between 6,885 and 7,132 feet and will be placed on production in early February 2010.

The Cherokee formation, which also encountered significant oil during drilling, will be completed at a later date to enable co-mingling of production.

Craig 12-28

The Craig 12-28 well has been cased as a producer and is currently undergoing completion in the Cherokee and Lower Atoka formations between 6,540 and 7,014 feet and will be placed on production in early February 2010. Oil production will be directed into a centralised tank battery for ease of shipment of sales, together with output from the Craig 10-28.

Larger volume centralised tank batteries are being deployed on the Jolly Ranch project in parallel with the expected increase in full-scale production as development continues.

Craig 12-33

The Craig 12-33 well has been cased as a producer, is currently undergoing completion in the Lower Atoka and Cherokee formations, between 6,543 to 7,077 feet, and will be placed on production during February 2010.

Craig 15-32H

The Craig 15-32H, a 2,006ft horizontal section, was drilled off the existing Craig 15-32 vertical well. Three of the four zones were sand fracced with oil coming back during completion operations.

The well requires some mechanical remediation following these exercises which will be undertaken subsequent to the production focused completion exercises in the Cherokee and Atoka zones on the vertical wells.

Craig 6-4 SWD

The Craig 6-4 SWD was permitted and drilled as a salt water disposal well to reduce the operating costs of production and development. During drilling excellent hydrocarbon formations were encountered within the Cherokee and Atoka shales between 6,489 and 7,079 feet. Subsequently a twin production well has been permitted to be drilled at a later date.

Optimum completion methods for the wells have been refined over the last 12 months. It is intended to apply these techniques, where applicable, to the wells drilled prior to the winter campaign. Nighthawk intends to publish a full project status report during February 2010, encompassing an update on all wells, production profiles and a review of the ongoing 3D seismic programmes.

David Bramhill, Managing Director of Nighthawk, commented: "We continue to be encouraged by the appraisal drilling results. Strong progress has been made and our understanding of the project has evolved. We anticipate regular news flow in respect of the project over the coming months."

I just posted that.......

anyone have any views on this?

Little or no oil actually being produced and sold.

Had to get some more at this price , i think the sp will push into the mid 40s very soon .

Why?

"cynic syndrome" is beginning to look more and more like the swine flu pandemic!

bad drop

RNS oil production 150bopd to increase to 1000bopd by end of 2010.Not a lot!

Holding 100k of these at 29p, think it has been oversold today,thought the update and rise in output quite good.

Boy oh boy !....are they slow at getting production going or what !?...I remember thinking this time last year that by now they would be pumping 10000 barrels per day...and they're not up to 1000....

as with EME and similar, a stock that continues to disappoint, or more to the point, fails to deliver against promises, should be chopped

I will sell my small holding but I will wait until the sp is a bit higher than it is now...

Another one to watch is little-known USfocused oil and gas group Nighthawk Energy, which has been drilling at its Jolly Ranch project. Bar-room gossip has the firm on the wanted list of American giant Apache Oil, and unusually high volume on the stock did little to dispel the rumours. A bid could see Read more: http://www.dailymail.co.uk/money/article-1255251/MARKET-REPORT-Unite-banking-student-boom.html#ixzz0hBxIRclZ