Nighthawk Energy Share Discussion Threads

[tsmith2] 26/5/2017 17:52

encouraging

[lev61] 26/5/2017 17:32

Very encouraging. Pleasantly surprised by Rick's timing.
Could be a very decent recovery stock q3 q4 2017.

[twodegrees] 26/5/2017 17:07

smokescreen.

[mallorca 9] 26/5/2017 16:43

Yes Phil - very interesting that.

Shows the positive results of the pilot !

First time Rick has ever released anything early !
Clearing the way for positive news June onwards.

If that news had come out earlier I'd have added.

Very surprised at how positive Rick's comments are.

[philmac56] 26/5/2017 16:36

Does the Northern part involve Knutsons ????? Are/will they be onboard $$$$$ talk

[mallorca 9] 26/5/2017 16:34

Wow,
Rick's comments are very upbeat.
I'll be very surprised if this doesn't move up next week.
Water Flood is working. Very upbeat talking about the recommencement of drilling from positive cash flow !

[rockin robin] 26/5/2017 16:31

Encouraged.Risk at .008p, yes, but uplift from here if refinancing gets sorted, hmm ...could be very interesting.:)

[flagon] 26/5/2017 16:29

Re WF - "We have started to see results and, based upon initial estimates, believe that there is significant upside both in reserves and production to be realized later this year."

Additional WF Project -

As we look ahead, the future looks promising for Nighthawk and expectations continue to be high. With the potential of two water flood projects, over 150,000 net acres of undeveloped acreage and oil prices currently stabilizing, increased value creation is within reach. With the successful implementation of our water flood Pilot project, we have begun planning the Northern water flood project and evaluating our acreage position for potential drilling locations with reduced risk from 3-D seismic. Challenges still lie ahead including the refinancing of our existing debt facility, however, we believe we are well positioned to overcome these.

GLA

[maxwell] 26/5/2017 16:29

Most promising details that give an even chance of being true although with a
Jump in shares even at a 1 cent loss gives me greater confidence than yesterday.

[mallorca 9] 26/5/2017 16:25

Love it !

The 2016 financials and the going concern statement we already knew.

Ricks (Chairman's) statement is very upbeat.
They are already seeing positive results of WF and are filing an application to extend it to the Northern acreage.

These results are usually issued end June - so why has he released them now ?

I think so that they are not a June drag on what may be a very explosive month for the share price

Very pleased and reassured.

[mallorca 9] 26/5/2017 16:13

Early results.
Clearing the way for June news flow.
The Going Concern wording is a statuatory requirement.

[twodegrees] 26/5/2017 16:12

RJCDC the words can be secured does not instil a lot of confidence. Nighthawk statement to me is not upbeat.

[rjcdc] 26/5/2017 16:10

But the rest is actually quite positive....

[twodegrees] 26/5/2017 16:06

These lines are depressing......... Whilst the Directors are confident that extensions to the CBA loan facility can be obtained, that alternative funding can be secured and that the waterflood project will prove successful and deliver the necessary increase in oil reserves, the outcomes of these negotiations and the waterflood project are unknown.

[twodegrees] 26/5/2017 16:05

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Final Results for the year ended 31 December 2016

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces its final results for the year ended 31 December 2016.

Operational Summary
-- Sales volumes

o Gross oil sales for 2016 of 483,195 bbls (394,424 bbls net to Nighthawk's net revenue interest(1) ), down from 2015 sales volumes of 653,431 gross bbls (536,972 bbls net)

o Gross average daily oil sales for 2016 of 1,320 bbls/day (1,077 bbls day net) (2015: 1,791 bbls gross, 1,471 bbls net)

-- Implemented and commenced operations of the Company's Arikaree Creek water flood Pilot Project

Financial Summary

-- Group revenues decreased 30.8% to US$18.0 million in 2016 from US$29.6 million in 2015; mainly due to the 26.5% decrease in net sales volumes and a $4.9 million decrease in gains on hedging instruments

-- Normalised EBITDA(2) for 2016 of $5.8 million or US$ 12.10 per gross barrel sold as compared to US$14.5 million or US$22.17 per gross barrel sold for 2015

-- Non-cash impairment of $7.1 million attributable to exploration costs included in intangible assets

-- Obtained bank waivers of all debt non-compliance through 30 June 2017, the maturity date of the Company's reserve based loan facility. The Company is in negotiations over an extension to the maturity date and believe an equitable arrangement can be reached with the bank prior to that time.

The audited report and accounts for the year ended 31 December 2016 will be available on the Company's website at www.nighthawkenergy.com later today and will be posted to Shareholders, as applicable, together with the notice of Annual General Meeting and Form of Proxy shortly.

The financial information in this announcement does not constitute the Company's complete statutory financial statements for the year ended 31 December 2016 or 2015 within the meaning of section 434 of the Companies Act 2006, but is extracted from those financial statements. References to 'financial statements' in this announcement should not be considered to refer to the complete statutory financial statements. The Group's Auditor has reported on those financial statements; its reports were unqualified, but did contain an emphasis of matter paragraph in respect of the material uncertainty in respect of the going concern disclosure set out in Note 2.

The Auditor's Report did not contain statements under sections 498(2) or (3) of the Companies Act 2006. The emphasis of matter is set out below:

Emphasis of matter - Going concern

The audited statutory financial statements include an emphasis of matter (without modification of the audit opinion) concerning the group's ability to continue as a going concern. The Group's and Company's cash flow forecasts indicate that its ability to meet its liabilities as they fall due for next 12 months is dependent upon successfully extending the Commonwealth Bank of Australia ('CBA') existing loan facility which matures on 30 June 2017 on terms acceptable to the Company whilst alternative funding is secured. The ability to secure alternative funding is expected to depend on the success of the waterflood project and associated oil reserves upgrade. Whilst the Directors are confident that extensions to the CBA loan facility can be obtained, that alternative funding can be secured and that the waterflood project will prove successful and deliver the necessary increase in oil reserves, the outcomes of these negotiations and the waterflood project are unknown. These conditions indicate the existence of a material uncertainty which may cast significant doubt as to the Group's and Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group or the Company was unable to continue as a going concern.

[philmac56] 26/5/2017 10:12

imo i think we all had hoped turnaround from WF was going to be quicker than we have geared in for!!

Lets also hope that none of the tracer fluids have shown up where they are not needed, only where they are expected, if they have shown up as yet!!

[balbains324] 26/5/2017 10:07

Phil I have been waiting on the sidelines with the ammo ready but Rick is definitely a chocolate tea pot. I'm hoping the reversal will start soon but good luck to all holders I'm rooting for hawk to fly again.

[philmac56] 26/5/2017 08:28

Blackieboy....looks like the poo trend falling will reverse from today.


Well obviously Rick still has nothing to update the markets with!!

He will also by now have a dam good idea if we will NOT be in compliance for May!!

Also, strange how when our share price dropped we seemed to loose all the P&D merchants...

It won't be long before they will be back!!!

[blakieboy7] 25/5/2017 19:47

I'm hoping the current oil price is an over-reaction

[rockin robin] 25/5/2017 13:49

All helps.Details are coming through of the 9 month Opec reduction in production.US Summer driving season and Saudis burning Crude for Electricity from here on.. . every little helps ('wrong B&B?).

[rockin robin] 24/5/2017 18:17

What's that colour, next to Hawk's sp?'Don't recognise it.B Red?BL ed?BLU d?Omg.It's that colour, that other BBs talk about..BLUE. Amaz - balls.

[philmac56] 24/5/2017 15:20

Oh Maxwell, totally agree

[maxwell] 24/5/2017 15:07

Without reserves upgraded and Bank sorted the share price is not going anywhere soon...

[reallyrich] 24/5/2017 15:06

3p is ok for me

[mallorca 9] 24/5/2017 14:48

Sudden surge through 2p