Nighthawk Energy Share Discussion Threads

[mallorca 9] 03/7/2017 21:54

blakieboy,

cheers -
see you on the PMG board ?

[mallorca 9] 03/7/2017 21:50

Troutisout,

this mornings RNS was the final straw for me.
I'm sure that the noteholders know exactly what is going on. Unfortunately shareholders are told as little as possible as late as possible.
What I wanted to read today ... WF a success, increased reserves now proven at .. , as a result the reserves based loan is increased back to its original $30m level, the extra $7m to be used for a multi drill explo programme, better terms obtained from the bank etc. Also Chuck's recent RNS was almost cryptic. Was that really the WF update we've been waiting for all year !!

Re PMG, yep understand your comment, but, in my opinion, PMG reaching £1 billion M/C is a certainty (and then £2b). It's just how long it will take.
With Hawk, it can ALL be gone at any time - also they just don't have the oil - WF is just a desperate attempt to extract the last drops from a depleting well.
I've been in this for years and the last couple of years have been terrible.
I feel better to be out and in PMG.

[rockin robin] 03/7/2017 21:01

AMP - 1 hour ago - US crude prices rise 2.2%, settling at $47.07 for best winning streak since 2012.We are already €300k revenue wise better off in one day...Another $4 a barrel and we've cleared enough to fund the bank's claimback...Let's see the WF pilot / June's numbers and get this sack of s going...

[blakieboy7] 03/7/2017 20:47

Good luck Mallorca! Wish you all the best. Will miss your input on this bb

[troutisout] 03/7/2017 20:45

Mallorca,
I was tipped PMG a few years back by someone that I respect as a very astute investor, he said the same as you about Dana, etc.....
I am glad I didn't invest it has been downhill ever since (there was a brief period it went up in price after he spoke with me....)

Two things I would like to pick up with you, firstly you seemed quite bullish before trading opened this morning, what changed you mind or was that to help you exit???

Second anyone buying into a new share hoping it will 20 bag is really in cloud cuckoo land, trying to make up losses with 'a 20 bagger in the making' sounds like just compounding the investment mistakes that caused the original loss....

[mallorca 9] 03/7/2017 20:38

All proceeds into PMG

[mallorca 9] 03/7/2017 20:36

blakieboy ..

sold balance in last hour.
Now completely out.

[blakieboy7] 03/7/2017 20:30

Mallorca, I wish you all the best. Question though - why did you decide to retain 25% of your holding if you feel they will go bust?

[sleveen] 03/7/2017 19:10

M9

Sorry to read about your loss.

HAWK debt is the killer, totally agree. Suspension and administration beckons.

I may pop my head into PMG occasionally, it's one I've been following for a while, without buying.

[twodegrees] 03/7/2017 18:30

philmac 56 reflec now paid it's 15th dividend, even though no longer listed

[blakieboy7] 03/7/2017 18:27

Empyrean energy is looking pretty tasty do. Dyor etc

[mallorca 9] 03/7/2017 18:08

Buy a few PMG Phil, then we can enjoy the ride up to £1b market cap together.

[philmac56] 03/7/2017 17:50

Mallorca..I was in Reflec, when they delisted.
So I fully understand what may happen if that does occur here..I came out of Reflect the other end a happy chappy.

[ranald] 03/7/2017 17:22

Mallorca9

At the end of the day it is all about opinions - I do not think that your assessment on the outlook for the business is as gloomy as you think, but as none of us can foretell the future, it might be - the dangers of it being taken private are present although this is not a concern for me as I have been here before and aside from the shares being difficult to trade you still retain an ownership share in the business - the bottom line is that the oil that was their before is still their to be exploited by someone - good luck with PMG - I have a (small) holding there myself.

[mallorca 9] 03/7/2017 17:01

I mention PMG and I have invested there because there is NO DOUBT that it will increase it's market cap by 20 x plus over time. Research it.
No debt at all there. 20 x current m/c is £1 billion which it will fly past once Tom Cross decides the time is right to develop their fantastic asset base in oil and gas.
They have current revenue from the Netherlands gas fields too.
I know that I will get my money back there in time.
Hawk on the other hand could delist and dump on it's shareholders any day.

[mallorca 9] 03/7/2017 16:55

Balbains & Phil,

I really worry that Hawk may be about to go bust. Think carefully.
Basically the bank has said that it wants it's $21.25 million back at end December and it wants to know how Hawk intends to find that money, by 31st October.
They have no chance of raising it.
The $3m borrowed for WF is due to be repaid end October too.
What a mess.
That's a reason I think they might delist.
You list on AIM to be able to raise funds.
Hawk cannot raise funds anymore.
Delisting saves them cost plus removes the tiny bit of regulation that they have to adhere to.
You can tell that they have no interest in encouraging small pi's.
Their focus now is in trying to get noteholders to defer calling in their loans.
They have been paying those guy's 15%pa interest too.
The have warned shareholders as to the possibility of not being able to continue.
Filing for bankruptcy and delisting may look like an attractive option to the owner.
I just don't want to be in a share that could go bust and be delisted at any time.
Are you aware of PMG ?
Research it tonight please, and also its largest shareholder Tom Cross. He built and sold Dana Petroleum.
Sorry for the gloomy outlook but Hawk does not deserve your support.

[balbains324] 03/7/2017 16:00

Rockin I will second that but trust me Rick isn't that bad. My other holding is also ridiculously bad at communication. I hold just over 1% of the issued shares!!

[rockin robin] 03/7/2017 15:41

AMP - 38 mins ago - Oil prices rose for an eighth day on Monday, their longest rally in over five years after data  ...-.. A $1 rise in Poo at today's production rate generates $300k+ extra revenue annually for Hawk. $5~ in Poo more pays today's Bank repayment.So we're not in LaLa land just yet.I would really like Rick to communicate away to keep us all onside, things - new permits, new WF areas - are obviously planned.

[balbains324] 03/7/2017 14:53

Yes I think so too. Sells going through at 0.67 so looking strong for now

[philmac56] 03/7/2017 14:37

Balbains...looks like you may well have caught the bottom here with your buys, I bought at similar price b to Ave down...but may well use those shares to trade in and out as soon increases (hopefully)

[balbains324] 03/7/2017 13:44

Just for your info Phil, I'm currently holding 2 million of these at an average of 0.73p so not that much in it. Real sorry to hear about your loss mallorca and wish you well in your other investment. I am going to hold if not increase my holding here.....with market analysts predicting a rise in oil prices for the latter half of this year it should be wise for me to hold and see what happens. My risk to reward ratio on this is high but I have been here before and today's announcement is not as doom and gloom as we are making out. I'm a naturally glass half full type of person but this company is about to turn around.

[philmac56] 03/7/2017 12:51

Well in my case I am way over exposed, so no intention on my behalf of selling any, at this level.

IF it takes 12-18 months so be it.

Quite possible that we all expected a quick reaction from WF..guided by comments from Hawk!!

They also have moved goal posts from Q2 to Q4 or even Q1 in 2018.

POO rising would help!

[rockin robin] 03/7/2017 11:56

- $23 Million principal amount; -- Matures on 31 December 2017, with Nighthawk to provide CBA with a refinancing plan on or before 31 October 2017;-6 months to play and £ to do it with.An Oil price recovery in the background would be nice..

[mallorca 9] 03/7/2017 11:55

Ranald,

fair comment and for the sake of others here I hope that I have sold at the bottom.
However, if you do not trust Management or feel that they do not in any way care about private shareholders, then you're better off somewhere else.
How did Hawk get into this state ? It's not just the fallen oil price.
Only a couple of years ago the owner injected $10m and it was all trumpets blazing as we embarked on a 6 drill exploration programme.
Rick used the money to take us into a JV with Cascade and agreed terms that we would fund the first 6 drills 100 % and any oil found would be split 50/50.
This was a disaster and coincided with the fall in the oil price and declining well output.
We ended up paying cascade $500k just to get out of the final drill, and had to assign 84% revenue rights to them of the only oil found - Monarch 15. All others were effectively dusters after 3D seismic !
A disaster.
Total debt is now $54m and revenue this year around $18m.
I'm amazed that Rick and Chuck are still in employment.

[ranald] 03/7/2017 11:35

Well that was a bit of a disappointment I think. The Bank seem to have become a reluctant participant (if they were not so before). They are clearly worried about their investment hence the interest being payable monthly and the loan note holders deferrals. The $1.75m "sweetener" to CBA only results in a reduction in the cash available for further drilling. From the earlier statements made by the company one would have expected to see at least some significant upturn as affected by the water flood process but it is not obvious from the statement made on 23 June in which CW said that "preliminary indications of a response" for the water flood could be seen - this is about as cautious a statement as could be made. I have said before that all successful companies in the shale area have drilled horizontals to gain production. We prefer to focus on conventional oil and water flood expenditure which may or may not be the right course to take - only time will tell. We are all free spirits here and I do not blame Mallorca9 for selling 75% if he sees better prospects elswhere and wish him well with PMG - I just hope that he has not sold at the bottom as on a wider view "Big Oil" is looking for cheaper per barrel production and shale is set to become an ever growing influence on world production because they can produce at levels that only the Gulf states can undercut so farms and or takeovers are not beyond the realms of the possible.