Nighthawk Energy Share Discussion Threads

[philmac56] 30/8/2017 08:16

Obviously Rick has shown those concerned CBA & major shareholders that WF is starting to work.

We however won't see some of this data till mid September, when Cogcc updates again with July figures.

I would like to know which are the three wells..must be Snowbird & 2 Blackcomb wells.

[tsmith2] 30/8/2017 08:11

If they can ramp up production from here...

[broncowarrior] 30/8/2017 08:11

They are not in a strong bargaining position, let's face it. Strike price on the options is low but at least higher than now.Need to get that production up next.

[marmar80] 30/8/2017 08:08

Why have they agreed this 1-1 conversion rate on the top of all of this, no idea.

[philmac56] 30/8/2017 08:02

marmar...as i said a big ouch in there for us!!

[marmar80] 30/8/2017 07:59

Win win for creditors. 15%pa repayment of the loan or extra 39% shares at 0.8p instead. What will the do when the shareholding increases significantly is my main worry now..

[philmac56] 30/8/2017 07:52

June Coggc production data

I have looked at all our producing wells.

10 wells are slightly up
6 are slightly down
3 are unchanged all on BOPD.

I STILL WONDER IF FLOW RATES ARE BEING MANIPULATED, SOME WELL SHOW RISES FOR NO REASON!!!

WF WELLS..... i thought we had four wells producing S B; BC 5-14 ; BC 3-14 & C Butte but RNS suggests three!!
so of the four..
3 are up one is down.
for my four wells for
Jan...356 in total bopb
Feb...294 in total bopb
Mar...386 in total bopb
Ap...270 in total bopb
may...314 in total bopb
June...310 in total bopb

The RNS suggests three wells have hit 425 in total...so i must assume whichever the wells are they have hit theses figures in July & August!!! But which three, have this discounted C Butte!!!

[philmac56] 30/8/2017 07:51

i see a big ouch in there!!

They are certainly going to have their reward!!!

[tsmith2] 30/8/2017 07:36

Excellent news

[blakieboy7] 30/8/2017 07:08

Nighthawk Energy plc Amendment of Loan NotesIntraday Nighthawk Energy ChartIntraday Nighthawk Energy Chart30/08/2017 7:00amUK Regulatory (RNS & others)TIDMHAWKRNS Number : 2306PNighthawk Energy plc30 August 201730 August 2017NIGHTHAWK ENERGY PLC("Nighthawk" or "the Company")Amendment of Loan NotesNighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces that it has executed amendments to two existing unsecured facility agreements and an existing loan note to defer the payment of cash interest and royalty payments as required by the eighth amendment to the facility agreement between the Company and the Commonwealth Bank of Australia ("CBA"), announced on 3 July 2017.On 30 June 2017, the Company executed a new amendment to the existing facility agreement with CBA that renewed $21,250,000 million of the principal amount of the financing (inclusive of a required $1,750,000 principal reduction payment). The amended facility agreement required the Company to meet two conditions. Firstly, existing unsecured note holders were required, by 31 August 2017, to agree to defer all cash interest and royalty payments due to them until 31 March 2018, and secondly, to meet minimum production volumes of 425 bbls per day from the 3 producing wells in the Southern water flood pilot project for the month ended 30 September 2017 (together, the "Amended Agreement").The Company is pleased to announce that it has now satisfied the modification of existing loan note agreements condition.As outlined below, the arrangements involve Johan Claesson, a Director and the largest shareholder of the Company, and one of his related companies who, among others, are deemed to be members of a Concert Party in relation to the Company, as defined in the Company's circular sent to shareholders on 15 March 2017.Amendment of Facility Agreements and Unsecured NotesThe Company has amended the terms of certain of its existing unsecured facility agreements and loan notes on which interest will now be deferred until 30 June 2018.The deferral applies to interest and royalty payments on the following loan notes and facility agreements currently in issue ("Existing Loans"): - Interest on the GBP3,800,000 9% convertible unsecured loan notes.- Interest and royalties pursuant to the Facility Agreement dated 23 July 2013, as amended, between the Company and Fastighetsaktiebolaget Korpralen, a Company controlled by Johan Claesson, a director of the Company.- Continuing royalty payments of 10% on profit sharing pursuant to the Facility Agreement dated 23 March 2013, as amended, between the Company and Kattrumpan Fastighets AB.In return for accepting the interest and royalty deferral, the noteholders/lenders will be given the option, exercisable at their discretion but subject to the conditions below, to elect to receive the deferred sums owed to them through either of two routes:Cash Payment: payment in cash on 1 September 2018 of the deferred sums together with interest on those deferred sums applied at a rate equivalent to 15% per annum.Share Payment: subject to the approval of a waiver of the obligations of Rule 9 of the UK Takeover Code by independent shareholders and the disapplication of statutory pre-emption rights, payment through the issue of new ordinary shares in the Company of 0.25 pence each ("New Ordinary Shares"), with the deferred sums converted at 0.8 pence per New Ordinary Share. No interest shall be applied to the deferred sums if the Share Payment option is exercised.If the noteholders/lenders all elect to receive the deferred sums in ordinary shares, at the conversion rate of 0.8 pence per share, this would equate to the issue of approximately 617 million New Ordinary Shares, or c.39% of the issued share capital as enlarged through the new share issue (using a minimum exchange rate of $1 to GBP1, as specified in the terms of the Existing Loans (the "Minimum Exchange Rate")).For information purposes only, using the current exchange rate of $1.3 to GBP1, at the same conversion rate of 0.8 pence per share, this would equate to the issue of approximately 529 million new Ordinary Shares, or c.35% of the issued share capital as enlarged through the new share issue.The relevant members of the Company's Concert Party have agreed to the above amendments to Existing Loans held by them. Election by them for the payment of the deferred interest and royalty to be satisfied via the Share Payment will require a waiver of the obligations under Rule 9 of the Takeover Code (the "Waiver"). The election of the Share Payment option would increase the Concert Party's interest, and Mr Claesson's interest individually, in the equity capital of the Company from less than 30% to more than 30% (but under 50%) (using the Minimum Exchange Rate), assuming that no other ordinary Nighthawk shares are issued until the exercise of the Share Payment option.If the Waiver is not approved by the independent shareholders then the Share Payment option will not continue to exist, and the Company will be required to make an aggregate cash payment of approximately GBP5.6 million (using the Minimum Exchange Rate) to the holders of the Existing Loans. This figure includes the approximately GBP2.6 million of deferred interest and royalties due to noteholders/lenders as set out in the Company's circular sent to shareholders on 15 March 2017. In the Board's opinion, the Company has limited working capital resources and, should the Company be required to make the Cash Payment, this could have a significant negative effect on its available cash and working capital potentially including jeopardising the ability of the Company to continue trading.The Company and its advisors are preparing a Circular and related resolutions for consideration by its independent shareholders in order to obtain the Waiver and expect to be posting the Circular, scheduling a General Meeting, shortly.Related Party TransactionsThe amendment of the terms of the Existing Loans by Johan Claesson, and related companies, is considered a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies. The independent directors, being the Directors other than Johan Claesson, having consulted with the Company's nominated adviser, Stockdale Securities Limited, consider that the terms of the transaction as fair and reasonable insofar as the Company's shareholders are concerned.

[philmac56] 30/8/2017 06:03

Balbains...we already new the figure for June, it was in last RNS of 3rd August.

I wanted to see individual well data... which I will look at later, to compare WF production impact!

I can see roughly 2k less oil from previous month, with 3k more water produced.

Need to reverse the water produced into oil... Skye's limit then, great for a HAWK

[balbains324] 29/8/2017 23:06

June looks better than the 29k expected.

[philmac56] 29/8/2017 22:01

June coggcc updated

June 33,444 Bo for month, water...121,573
May 35,388 Bo for month, water...118,214

I did have a prompt reply again from Cogcc earlier..I don't think they were amused by my 2nd email!!!

[rockin robin] 29/8/2017 18:52

Big late buy today..someone's keen. interesting.

[reallyrich] 29/8/2017 11:21

As per usual Rick leaving things to near the last moment. you would think the major shareholders would agree quickly

[marmar80] 29/8/2017 10:03

Apparently recent weather in US should add to the oil price shortly. Many operations and wells in US has been closed. Lets wait and see if POO can climb higher this week.

[philmac56] 29/8/2017 09:08

Well I have again this morning sent an email to Cogcc.

Inquiring why they have delayed making public, individual well data for Nighthawk June production.

Bringing their attention to their email reply of a week ago...shortly!!!

Something is behind this, but what/who!!

[rockin robin] 29/8/2017 08:48

Early rns please...

[philmac56] 27/8/2017 07:30

Another Edited version
Updated shortly!!!

Well we will see how shortly pans out!!!
1) Overnight... certainly not!
2) Over the next day...certainly not!
3) Over the next two days...certainly not!!
4) A week later... definitely not!!

5) Certainly looks like after an RNS is released (WF & Agreement)... we will have sight of June data from Cogcc!!!

But why!!!

[rockin robin] 25/8/2017 10:10

RAILROAD COMMISSION OF TEXASOil and Gas DivisionOversight and Safety DivisionSurface Mining & Reclamation Division___________________________________NOTICE TO OPERATORSTropical Depression HarveyThe National Hurricane Center is tracking Tropical Depression Harvey in the western Gulf of Mexico. Landfall is forecast later this week along the Texas Gulf Coast, with possible severe weather impacting the entire Texas Coast and areas inland.From the Texas Division of Emergency Management:This system is likely to slow down once it reaches the coast, increasing the threat of a prolonged period of heavy rainfall and flooding across portions of Texas and Louisiana into early next week. Harvey could also produce storm surge and tropical storm or hurricane force winds along portions of the Texas coast later this week, and Tropical Storm or Hurricane Watches could be required later today for portions of the coast of northeastern Mexico, Texas, and southwestern Louisiana. Interests in these areas should monitor the progress of this system and refer to products issued by your local National Weather Service office for moreinformation.The Railroad Commission of Texas (RRC) advises all operators under the RRC's jurisdiction in areas of potential impact to take the following actions:• Monitor local, state and national weather reports for updates on potential severe weather impacts, including the National Weather Service, National Hurricane Center and Texas Division of Emergency Management;• Heed all watches, warnings, and orders issued by local emergency officials;• Secure all personnel, equipment, and facilities to prevent injury or damage; and,• Monitor operations for potential impacts, as safety permits.In the event of a leak or spill, operators are reminded RRC rules require:• Immediate notification of a leak or spill into water;• Containment of a leak or spill; and,• Clean up and remediation of any area impacted by a leak or spill.The RRC maintains a 24-hour, toll free emergency line; 844-773-0305 to report leaks or spills.____________________________________________________________________PLEASE FORWARD TO THE APPROPRIATE SECTION OF YOUR COMPANYAustin, Texas August 23, 2017

[rockin robin] 23/8/2017 16:09

US crude stockpiles notched their eighth straight weekly decline, albeit smaller than last week's draw, largely erasing gains in the US oil price.US crude inventories dropped by 3.3m barrels during the week ending August 18, according to the latest data from the US energy department. That was a hair lower than the 3.25m draw that analysts surveyed by Bloomberg had expected and far less than the nearly 9m barrel decline registered the week before.

[rockin robin] 23/8/2017 09:15

We know the Investor's Relations person is on holiday until Mon 4th Sept. I would agree Phil.We'll see..

[philmac56] 23/8/2017 08:25

I am quite sceptical here that we will get an RNS before Cogcc update completely the June data.

Why start an entry for a Co then stop!!!
Aimo

[rockin robin] 23/8/2017 08:07

..making Hawk look Communicative..

[philmac56] 23/8/2017 07:14

Re Edited version
Updated shortly!!!

Well we will see how shortly pans out!!!
1) Overnight... certainly not!
2) Over the next day...certainly not!
3) Over the next two days...we will see!!
4) After an RNS... quite possible!!!

Time will tell.