Nighthawk Energy Share Discussion Threads

[troutisout] 30/5/2017 09:42

Well I have read all the comments and can see a clear division between some posters, myself, I thought the comments sounded promising and therefore worthy of a bit more of a punt at these levels, seems like I was the only one.....Got 0.81p and the offer is now at 0.85p. Will it more than double on positive refinancing and WF news? How much will it drop if the news means more hanging around and uncertainty?
I think the outlook statement gave us a massive heads up.....

[blakieboy7] 29/5/2017 20:30

Completely agree Bronco. The bank could already have pulled the plug it it had wanted to

[broncowarrior] 29/5/2017 20:20

Pretty bullish statement from Rick. Water flood results are clearly the key, of that has worked i don't see any issues with the bank, who have been supportive to date.

[mallorca 9] 29/5/2017 20:05

Try doing a bit of your own research or call Rick.

[reallyrich] 29/5/2017 19:19

Mallorca
that was not my question. I know what is was 3 months ago, I was talking about now. I wanted to know how much cash it was generating

[mallorca 9] 29/5/2017 13:43

rr,

see the RNS dated 15/2/17.
Year end cash $5.6m with $1.2 m of that required for WF.
Confirmation that there is enough cash / revenue to carry out normal operations for the rest of the financial year.

Revenue this year will also exceed $20m with hedging in place at $56.
We're now cash flow positive.

Once the CBA extension is confirmed along with reserves increase confirmation we'll be on a solid footing.

A market cap of only £50m (which I think we'll fly past this year) represents an share price of circa 5p.

It's all about confidence here which, hopefully, will return.

[mallorca 9] 29/5/2017 13:34

rr,

it's around $5.5m now.

[reallyrich] 29/5/2017 13:30

Was that the cash as of 31st December? I am more interested in cash NOW

[ranald] 29/5/2017 11:41

Well all in all that was pretty good I think given the operating conditions that hit the oil business in general over that period causing the loss of income compared to prior years.
They have:
Achieved an operating Profit of $2.1m before finance costs.
Reduced borrowings by some $3m
Reduced Staff costs by 34%
Cash on hand at $5.569m stable
Payables stable

The JDA while costly due to the 4 dusters has resulted in the gaining of complete control over the whole area which may or may not be good but at least it is something for the money spent.

The "Emphasis of Matter" is just that and not a "qualification". The distinction is important. It highlights the obvious but as has been stated it is not thought important enough to put any contingent sums in the Accounts.

The costs of borrowing is a concern as it eats up funds ($8.1271m) in this instance. The management however have expressed unabashed confidence that this will be resolved in the not too distant future which would be a stupid statement to put in the accounts if it were not the case.

This management gets a lot of criticism on this board, but by any measure it shows that they know what they are doing in difficult conditions. The way that they dealt with the CBA under very difficult circumstances while at the same time reducing costs and keeping other financials stable including cash on hand are not the skills always displayed by managements of other companies in these circumstances.

[mallorca 9] 29/5/2017 10:22

Sleeven,

spot on. The 2016 results have been released one month earlier than expected (very unusual for our Rick). 2015 & 2016 have been terrible years for this sector ... over 100 USA oil Co's filed for bankruptcy last year.
I'm very much hoping that June marks an upturn in our fortunes with positive news flow and with the share price beginning to turn upwards.
Therefore I'm glad that he has decided to draw a line under 2016 now. We all knew that the 2016 results would be bad.
We're still standing though and Rick's forward looking statements are very encouraging.
Revenue this year will be $20m plus, and we currently have over $5m cash at bank.
We could see another RNS tomorrow or next Monday advising of the CBA extension.

[philmac56] 29/5/2017 10:04

mallorca..yep got it thanks..if i recall when he retired Rick bought his current holding from SG

[mallorca 9] 29/5/2017 09:01

Phil,

its way down in the financials ... section 7 'Staff Costs'.

[sleveen] 29/5/2017 06:38

...Bury bad news

[philmac56] 28/5/2017 10:17

Mallorca...which page was this on, I missed that
"I was also surprised to read in the results that Steve Gutteridge (former CEO)took up options on 1.7 million shares."

[blakieboy7] 28/5/2017 09:52

Only one explanation?!

[philmac56] 28/5/2017 09:38

Rick instigated later release of results, possible turn of fortune going forward

[sleveen] 28/5/2017 08:51

A late Friday pm RNS and on a BHW too: there's only one explanation.

[mallorca 9] 28/5/2017 08:25

I was also surprised to read in the results that Steve Gutteridge (former CEO)took up options on 1.7 million shares.

[mallorca 9] 28/5/2017 08:22

With the current oil price, revenue this year will exceed $20m verses $18m 2016.

2015/16 were horrible years for the oil sector and Hawk. The earlier than usual release of these results puts this period behind us.

Still puzzled by the earlier than usual and 4pm RNS. Seems they wanted to get this RNS out of the way and put 2015/16 behind us.

Will we get another RNS Tuesday morning. Confirmation of an extension to the CBA loan would be nice - certainly that cannot be far away.

[marmar80] 27/5/2017 17:57

Wonder if average down now or after Q2 results in 2 months when the financing is known.. Still can go lower. Sad times for old hawk.

[rockin robin] 27/5/2017 17:57

Considering we have been mushrooms for months, that was some (very welcome) update..

[tsmith2] 27/5/2017 17:28

Outlook..Also POO massive difference 2016 comparatives useless

[reallyrich] 27/5/2017 17:23

Phil I near choked on my dinner when I read that about shareholder communication.

As a separate point, I was looking at the average price of oil so far this year. It is about 52$ as against 38$ which was our average sale price in these results. Big difference.


Just really waiting on financing as the WF seems to be looking good according to Rick otherwise they would not be looking at increasing the area.

GLA