Nighthawk Energy Share Discussion Threads

[sleveen] 27/5/2017 14:39

I did but not anymore.

Just following HAWK out of interest.

[philmac56] 27/5/2017 14:32

blakieboy..Bank Holiday..well that's what retirement does to you, you cant distinguish different days..lol

[twodegrees] 27/5/2017 14:31

I am ...but very very worried

[philmac56] 27/5/2017 13:35

Blakieboy​...now that question is interesting, the answer I await to see

[blakieboy7] 27/5/2017 13:27

Sleveen, are you currently holding Hawk if you don't mind me asking?

[sleveen] 27/5/2017 12:59

rr

POO is a factor but 1,077 bbls/day net 2016; 2015 net 1,471 bbls/day

Here's the thing, Q1 2017 net production is down circa 20% on 2016.

April's GROSS production of 36000 or NET circa 30000 doesn't look to me like a huge improvement.

Net April production in 2016 was 33000 bls still 10% above 2017 net April production.

Perhaps net production will improve further in May & June due to WF?

As the Going concern statement identifies a lot rests on WF project success.

[mallorca 9] 27/5/2017 11:48

Sleeven,

pleased to see that you've read some detail.
Re the Going Concern statement, please remember that this is added by the auditor - it is a statutory requirement - these were year end results.

If we can believe Rick then WF is beginning to produce significant results.

I'm still puzzled as to why RNS results released a month earlier than usual and at 4pm.

Makes me wonder whether another RNS will follow shortly behind - probably with an extension of the CBA loan facility.

The message from Rick seems to be ' some challenges still ahead but we're at last turning the corner'.

[blakieboy7] 27/5/2017 11:36

Phil, bank holiday Monday!!

[reallyrich] 27/5/2017 11:24

But Sleeven was that not down to the price of oil?

[philmac56] 27/5/2017 10:22

Marmar..I will plump for up on Monday.

We will have an idea once the pilot comes online with regards to production, how long the Northern area could take... depending upon voids to be refilled.

I can't see Cogcc objecting, Knutson's must be on board.

[reallyrich] 27/5/2017 10:15

Well I think Monday it not move :-)

[marmar80] 27/5/2017 09:37

Monday up or down guys?

[sleveen] 27/5/2017 09:08

NEBITDA per net barrel $14.83/bbl for the year ended 31 December 2016, as compared to $26.98/bbl, for the year ended 31 December 2015.


Margins per barrel down almost 50%.

[sleveen] 27/5/2017 08:55

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.


5 weeks to D day (debt day)

[rockin robin] 27/5/2017 08:09

The remaining 700 acres provide an opportunity for development and the Company expects that in 2017, an application will be filed with the Colorado Oil and Gas Conservation Commission for development of the Arikaree Creek Northern acreage as a water flood project. Once approval is received, the Company expects to be able to capitalize on additional water flood volumes at a reduced price, as much of the infrastructure already exists within the Pilot Project. 

[philmac56] 27/5/2017 06:47

So they must be planning next year to drill..Mary Jane gives two further drill location permits to develop that area if need be.

But if the next stage is to add the Northern area to pilot WF, as was the original application, Knutson's must be on board.

The application should be easier this time, as Cogcc hearing ok'd the original previously.

Just hope RF don't stick their nose in again.

June could be interesting, chooks away!

[reallyrich] 26/5/2017 23:41

Did they give an outlook statement or current cash? Not the cash as per results.
I want tosee if it is still generating cash.

Sorry if i missed it lookong on a small.mobile makes it hard to read

[marmar80] 26/5/2017 22:56

Results are quite bad unfortunately. Hope the bank won't switch the lights off...

[sleveen] 26/5/2017 18:39

Financing cost of $8m.

Ouch and triple ouch (to say the least).

[sleveen] 26/5/2017 18:34

The Company reported a Net Loss of $14.2 million for the year ended 31 December 2016 as compared to a net loss of $70.3 million for the year ended 31 December 2015.


Go HAWK go.

[sleveen] 26/5/2017 18:26

It gets better:

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

[sleveen] 26/5/2017 18:25

Friday pm RNS in the best traditions of Friday pm RNSs.


(394,424 bbls net to Nighthawk's net revenue interest, down from 2015 sales volumes of 536,972 bbls net)

[philmac56] 26/5/2017 18:22

Well all, has Rick finally lit the blue touch paper.

Will our turnaround start sooner than expected!!
Gla

[blakieboy7] 26/5/2017 18:16

An excellent rns! What a nice way to end the week!!