Nighthawk Energy Share Discussion Threads

[philmac56] 03/8/2016 08:01

Marmara, permits are in awaiting approval, surely forgone conclusion, as Cogcc hearing approved water flood.
Let's get this court case sorted next, hopefully with compensation awarded to Hawk

[marmar80] 03/8/2016 07:48

Another approval required?

[philmac56] 03/8/2016 07:39

RNS....

Water Flood Pilot Project Update
Wed, 3rd Aug 2016 07:00
RNS Number : 0528G
Nighthawk Energy plc
03 August 2016

3 August 2016



NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")



Water Flood Pilot Project Update



Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces the Company's latest Water Flood Pilot Project ("Pilot Project") update.



Pilot Project Update



Nighthawk announces that it has signed an agreement with SNF FLOQUIP ("SNF") to engineer, manufacture, deliver, and install all of the water storage and polymer equipment necessary to implement the Pilot Project. The agreement calls for a monthly rental payment of $17,665, with an 84-month term. At the end of the term, the Company has the option to purchase the equipment for approximately $74,000.



The Company has submitted the application for the Unit underground injection control permits for the water injection wells to the Colorado Oil and Gas Conservation Commission. Regulatory approval is expected to be received by late September 2016.



Chuck Wilson, COO commented, "This arrangement with SNF, which is a major international manufacturer of this specialised equipment, is a major initial step of our implementation of the Arikaree Creek Water Flood Pilot Project."

[twodegrees] 02/8/2016 19:29

so we get two good rn's and we are lower than we have been for many a year. It would seem to me that the market does not see the potential in this which can only see the share price fall further. Also oil has had a 22% fall since June. If hawk do not pull enough from the water flood project to pay the quarterly interest then I fear that we may not have a company will all the debt that hawk is servicing.

[philmac56] 02/8/2016 16:57

Max..taken my ave down on many occasions.
But the will to do it more is draining!!!

[maxwell] 02/8/2016 16:23

Spread appears worse than actually happens and value per trade not effecting very much. When something dose actually happen then movement will be immediate!

Is this the bottom or not - your choice if any funds to take a pop.... as
100k shares approx £825 and average down would be sensible if confident!!!!!!!!!

[philmac56] 02/8/2016 16:10

The share price Just keeps getting worse!!

[marmar80] 01/8/2016 10:48

Toggle, fair comment. Similar situation to the company called Atlantic Coal. After collecting enough shares at low price, securing private loan with director's wife at 15% interest, the company was delisted from UK.Hope it won't happen here!

[togglebrush] 01/8/2016 10:35

My abbreviated note on the RNS
'
Company has a Market capital of roughly US 8 million and 965 million shares
Accounts to end of 2015 it had Assets of 52 million and borrowings of 25 million in US dollars
‘
Simplified notes on RNS
'
Water Flood Financing and Amendment of Loan Notes
No comment Agreed by all
‘
Concert Party … - Red Flag
'
Water Flood Financing through $3 million Second Lien Notes
$3 million second lien notes bear interest of 15% per annum, payable quarterly, and include a 1% overriding royalty interest,..to Concert Party … - Red Flag
'
Amendment of Facility Agreements and Unsecured Notes
deferral applies to interest and royalty payments by two routes
either: Cash Payment: deferred sums together with interest at a rate equivalent to 15% per annum.
'
Or Share Payment: subject to the approval of a waiver. issue of approximately 211 million New Ordinary Shares, or 18% of the issued share capital as enlarged through the new share issue. … - Red Flag
- would increase the Concert Party's interest, and Mr Claesson's interest individually, from less than 30% to more than 30% (but under 50%)
‘
posting the Circular shortly and scheduling a General Meeting during August.
'
Related Party Transactions
No Comment.
'
Fifth Amendment to the facility agreement
if CBA proposes to assign all or a portion of its rights and obligations under the facility agreement to a proposed assignee, then prior to such … CBA shall provide Korpralen a right of first refusal to acquire such.

[marmar80] 01/8/2016 10:03

It will, but at what cost to shareholders!

[jotoha2] 01/8/2016 09:37

It certainly will survive , it is essentially a private company due to the concert party . City slickers will not invest here until insti invest , and that is most unlikely.

[awise355] 01/8/2016 08:16

Amazing that hawk could well survive more or less in the current corporate structure dilution is a problem though as there are millions and millions of shares that are exercisable already

[sleveen] 01/8/2016 08:12

Everything rests on the success or otherwise of the water flood project.

[jotoha2] 01/8/2016 08:11

Market clearly loves this amazing deal , for some!

[maxwell] 01/8/2016 08:11

Can only pay if success which is good for us all, and to be fair
they are the ones prepared to add further investment without a long drawn out
rights etc.

[togglebrush] 01/8/2016 08:02

Share price was priced to go base over apex. That prospect, in the short term, has now been removed.
'
It now depends on OIL FLOW and OIL PRICE to finance this complex deal.

[marmar80] 01/8/2016 07:53

"In the best interest of all our stakeholders". They did not say "shareholders". Why? 15% cannot be the dream deal. In some countries you pay this interest on your credit card!

[marmar80] 01/8/2016 07:41

But 15%?? Who wouldn't agree to participate! Don't forget that we will pay this interest to them.

[chesty1] 01/8/2016 07:31

Morning all.....

We have to expect high interest rates, its risk reward with small oil co's at the moment.

Not a problem though HAWK will deliver.

Be lucky to all & bring on the blue.

[philmac56] 01/8/2016 07:23

Two degrees

Nothing really, but Imo it would show his faith in hjis plan!!!!

Just hoping really

[togglebrush] 01/8/2016 07:22

Long and complex RNS but summarised by:-
'
Rick McCullough, Chairman of Nighthawk, commented:
'
"This completes two major steps in our previously announced debt restructuring plan. The $3 million funding from our principal shareholders not only speaks to their support of the Company and the Pilot Project, but it also gives us the necessary capital for Chuck Wilson, Chief Operating Officer of the Company, and his team to move forward to implement the project. This and the amendment of the Existing Loans, meets the two conditions we agreed to in the new CBA facility agreement and further illustrates the support of the bank and our lenders and noteholders. We thank them for this support and vote of confidence.
'
We will soon be calling on our independent shareholders to approve the Waiver and will be seeking approvals for the authorisation to issue the necessary new shares. Our Board is very supportive of this proposal and believes the entering into these agreements is in the best interest of all our stakeholders."

[twodegrees] 01/8/2016 07:20

philmac56 surely rick could has had his chance to buy shares on so many occasions and never done so. What makes you think he will do now.

[blakieboy7] 01/8/2016 07:18

15% interest on the 3 mil?!

[reallyrich] 01/8/2016 07:16

Bloody hell looks the most complicated loan deal I think I have ever read.

Anyway good news. If this spikes I will be out of this as I cant see it paying down its debt.

Good luck all