Nighthawk Energy Share Discussion Threads

[grannyboy] 01/5/2018 11:29

The shareholders will be wiped out..they will be diluted to zero..that's IF they survive..

[pr100] 01/5/2018 11:18

It's hickfromthesticks I worry most about as he has had rotten luck backing loser after loser on AIM…or maybe he's just no good at it. Either way, my condolences to him and all who are feeling the pain here. Most of the smart money got out when the current CEO was appointed. And the rest of it got out when HAWK farmed into an adjacent asset rather than invest that cash in developing their own. That was an obvious red flag - and would have been even if the farm-in hadn't been an abject failure.

[marmar80] 01/5/2018 11:09

Agree Phil. This would also stop me from averaging down again. Honestly fingers crossed now for the good outcome. If JC has money, he will buy the company now. If not, the bank will decide if wants all money back in installments or half money guaranteed thru assets sale. Problem with CBA, they need money urgently as the bank is also not in a good shape..

[mallorca 9] 01/5/2018 11:03

Good post Ranald.

Phil, your contribution is particularly uninspiring this morning.

To Ranald's point ... I'm sure that other avenue's of finance are very much being explored.

[philmac56] 01/5/2018 10:56

suspension of shares should have happened when the RNS of 24/4/18 was released, it would have prevented many "gamblers
" being suckered in, imo

[ranald] 01/5/2018 10:55

Well well - because the bank set an arbitrary date regarding the loan that has not been met they cause this mayhem even although the company is generating cash and the Bank are getting paid interest and the capital amount is reducing - that's Banks for you - these are the people who took taxpayers money after causing the 2008 financial crash and carried on paying themselves bonuses with it - no sense of anything except themselves - the only hope would be that if the Bank see that they are going to lose from a failure they might decide to restructure the loan and carry on for another while - would not hold my breath - but it is a bit strange that with the climate looking increasingly brighter in terms of demand and POO no other bank are interested in taking over the loan.

[mallorca 9] 01/5/2018 10:51

Phil,

at least you're getting your wish that the 'can isn't kicked down the road again'.
Now it's either debt write down and recapitalisation, or closure.
Don't forget the current $1m per month in revenue though and the money that has just been spent on workovers and in the assignment of the JV acreage.
Chapter 11 protects Hawk and allows them to continue for now.
I only have a small punt here now as I moved my funds into PMG some months ago.
I still think that there is hope for Hawk shareholders though.

[mallorca 9] 01/5/2018 10:45

I'm not so sure RR,
they are generating $1m per month in revenue.
All is not lost yet.
CBA will be looking to CP members to write off their losses.
Personally I don't think they will sell assets - it still doesn't clear the debt.

What a waste of money WF has been though ... $3.5m which could have been spent on drilling or a farmin somewhere.

The strong oil price might just throw Hawk a lifeline.
We'll know in a month.

[philmac56] 01/5/2018 10:44

Mallorca...we have no idea which asset they may sell!

All assumption on your part

[reallyrich] 01/5/2018 10:39

Read what it says you wont't get anything too many times this has happened.

[mallorca 9] 01/5/2018 10:01

Phil (or anybody else with a bit of knowledge of Hawk)
what do you think of this ....

The Co are considering 1 asset sale which will go a long way to clearing the CBA debt ..

That asset has to be the Arikaree Creek field (it's current main producer and the subject of WF).
This could make sense as it is depleting. It may also help explain why WF has been stopped.

This would strip us of our revenue but would remove most or all of the debt.
This leaves the balance of Smokey Hill and Jolly Ranch for exploration, plus of course the JV acreage with Cascade.

[mallorca 9] 01/5/2018 09:34

Nighthawk Production LLC

I've just re read the RNS just for clarification.
As above .. Chapter 11 is a defence mechanism and allows Hawk to continue operating without fear of foreclosure by the bank.

Hawk's operating arm ... Nighthawk Production LLC has not filed for bankruptcy and continues to trade as normal.
IF the Co chooses to go down the asset sale route (not restructuring) then Chapter 11 will be filed for this operating arm and it will be the end - closure.

So ... Hawk is still producing as normal today and it's major stakeholders will decide which option to take.
All will be decided by June 1.

[mallorca 9] 01/5/2018 09:21

Rick is also playing a good game here - 'the Company are still open to discussions with major shareholders'
for example ... the CP members who funded WF to the tune of $3.5m are still paying themselves 15% interest ($475k per year) and have been for nearly two years now.
They need to accept that loss and write it off.
To give the Co any chance , lots of debt will need to be written off.
As somebody else on here said .. CBA needs to take a haircut.
It's better for all if the company continues trading and recapitalises allowing growth.

I have never experienced a share that I own going into Chapter 11 ... does anybody here have any experience of this ... what happened ?

[mallorca 9] 01/5/2018 09:14

Does anyone have any experience of this ?

My read is that it doesn't change much - other than you can't trade the shares.
Chapter 11 is a defence mechanism - it stops the bank seizing the assets / foreclosing.
The Company is still trading and the addition of $1m cash from one month production is good.
One thing I'm not clear of also ... the RNS states that the offer under consideration is for ONE of the companies assets !
Personally, I still think that there is hope - they come out of Chapter 11 with a deal in place.

[minja19] 01/5/2018 08:45

oh dear oh dear oh dear oh dear,
another absolute dud

Mrs Minja is so very pleased

[chesty1] 01/5/2018 08:16

Well that's my bottom drawer full of dead stocks hopefully something can be sorted out!!!

[marmar80] 01/5/2018 08:13

hTtps://www.investopedia.com/terms/c/chapter11.asp

[marmar80] 01/5/2018 07:48

Personally I believed in a deal with a bank, that's why I averaged down lately. If it won't come out of this, I'm done with aim.

[balbains324] 01/5/2018 07:30

I hope so Phil, I don't have any shares...took the loss

[philmac56] 01/5/2018 07:10

Well our shares are SUSPENDED as from today!!!

Can we also do a TRIN, and come out the other side!!!

[philmac56] 01/5/2018 06:16

Hawk also rented for 84months a WF injection system!

They stopped injection into both wells from December, without any explanation!!

[mallorca 9] 30/4/2018 22:36

Hawk have just paid for well workovers, production is rising.

[marmar80] 30/4/2018 12:13

We don't know about March yet