is hawk bworth buying into today?
is hawk bworth buying into today?
See how it reacts next hour or so.
The RNS was deffo a good shout, but HAWK is a bit of a bitch on good news
yea i noticed that...rbs is down a good whack so thinking of just putting it in my share isa nad leaving it to mature...decisions decisions lol
Anyone still holding? finally a bit of good news - hopefully the oil flow is solid. Im not too worried about these guys, think i will eventually claw my money back (few years!)
Nighthawk Energy plc
Jolly Ranch Craig 15-32-L Lateral Well
The directors of Nighthawk Energy plc ("Nighthawk") (AIM: HAWK), the US focused hydrocarbon production and development company, are pleased to announce that the Craig 15-32-L well, the first lateral well to be drilled at the Jolly Ranch Group project, has reached Total Depth of 8,554 feet of which 2,006 feet was the horizontal leg through the Cherokee formation. The well is currently being cased and the horizontal leg will be fracced ahead of production.
The Jolly Ranch project is located in Lincoln, Elbert and Washington Counties, Colorado. Nighthawk holds a 50 per cent. working interest in the project and the operator, Running Foxes Petroleum Inc. holds the remaining interest.
Tim Heeley B.Eng (Hons) a member of the Society of Petroleum Engineers, Fellow of the Geological Society of London and Chartered Energy Engineer, who is Commercial Director of Nighthawk and has over 12 years of experience in the hydrocarbons industry has approved the technical information contained in this announcement.
Starting to build momentum now.
BUY Tipped by Investor Chronicle.
Nighthawk close to transformation
Created:15 October 2009Written by:Martin Li
■ Substantial, independently-assessed oil reserves
■ Stable operating environment
■ Growing production
■ Development programme financed
■ Needs to confirm production flow rates
■ Share price volatility
Nighthawk Energy aims to develop sizeable oil and gas projects in established oil producing regions of the US. These should benefit from existing infrastructure and from the stable regulatory regime that the US offers. At Nighthawk's principal project, Jolly Ranch in Colorado, a recent independent evaluation by consultant Schlumberger estimated oil in place of about 1.46bn barrels (although the actual oil recovered will be lower than this).
Jolly Ranch covers an area about the size of Surrey, across which multiple oil-bearing reservoirs are believed to extend. To date, 12 wells have been drilled, all of which found multiple pay zones (layered, distinct reservoirs from which oil can be produced). Eleven wells have been completed for production and the other will be used to get rid of water.
Although Nighthawk has been selling oil for nine months, the focus of drilling to date hasn't been to maximise production. Instead, the company has been drilling and fracturing (ie, injecting water and fine sand to stimulate oil flow) to determine which is the best pay zone from which to target large-scale production. It could produce from several pay zones, but this would be expensive.
One of the Jolly Ranch pay zones being evaluated is the Marmaton, from which companies such as BHP and Norsk Hydro previously produced oil for many decades (until low oil prices made it uneconomic). It would be easy enough for Nighthawk's bosses to focus on Marmaton, but they believe that other zones could flow even more productively using modern fracturing technology which wasn't available to earlier operators.
Nighthawk is currently drilling a horizontal well (which can produce much greater volumes than a vertical well) targeting the Cherokee pay zone. This is testing to what extent production from that zone can be improved by fracturing, and results are expected in November. While a successful result would obviously improve Jolly Ranch's prospects, Nighthawk will need to drill further wells, including perhaps another four horizontal wells over the coming 12 months, to demonstrate this. Each horizontal well costs some £0.75m to drill (vertical wells are cheaper), and £22m raised via a share placing in July will finance this plus other projects through to the end of 2010 at least.
NIGHTHAWK ENERGY (HAWK)
ORD PRICE: 46p MARKET VALUE: £152m
TOUCH: 45-46p 12-MONTH HIGH: 61p LOW: 20p
DIVIDEND YIELD: nil PE RATIO: na
NET ASSET VALUE: 18p† NET CASH: $5.93m†
Year to 30 Jun Turnover ($m) Pre-tax profit ($m) Earnings per share (¢) Dividend per share (p)
2007 0.13 -1.48 -1.31 nil
2008 0.14 -2.49 -1.34 nil
2009 0.50 -1.70 -0.72 nil
2010* 2.07 0.03 0.01 nil
% change +314 - - -
Normal market size: 20,000
Matched bargain trading
*Daniel Stewart estimates
†Before £22m share placing
More share tips and updates...
Nighthawk's other high-profile project is the Revere waterfloods on the borders of Kansas and Missouri. There, the company is injecting water into low-pressure fields to stimulate oil flow. This project essentially consolidates several smaller ones and is a numbers play, where hundreds of tiny wells spread over 40,000 acres will each produce small amounts of oil per day. A recent evaluation by Oilfield Production Consultants estimated most likely oil in place of 210m barrels (again, actual oil recovered will be lower), based on just two projects within the Revere region.
There are currently 140 Revere wells in production, 65 wells await
Another punt after the sales of my BARC shares. Back into old faithful. Got in at 43p yesterday, so could of timed that better. This holding is my biggest investment on the stock market to date, so fingers crossed for all holding. Not sure if I had a target price, but last time I sold HAWK it was at 81p, and since then the world has gone mad and HAWK have so much more potential.
We all ready for the AGM tomorrow? Could do with HAWK finally being let of its 40p leash.
Heard about a rumour over on ADVFN.
Was some heavy buying late play yesterday also.Weflyhigh - 10 Nov'09 - 20:05 - 72339 of 72344
Recent post on advfn.....number 72339
There has been a little bit of noise this evening regarding one of the lateral wells being drilled at Craig Ranch. The suggestion is that it has been on full flow test for several weeks after completion of the 4-stage frac. Flow rates are said to be between 300 and 400bpd.
I do not however know the reliability of the source here as it has passed through several channels before I have heard it. Therefore it should be heavily discounted.
We are hoping to see some positive action tomorrow on the back of this.
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
JOLLY RANCH UPDATE
The directors of Nighthawk Energy plc, the US focused hydrocarbon development and production company (Tickers: AIM: HAWK and OTCQX: NHEGY), are pleased to announce an operational update in respect of the ongoing drilling, well completion and other development activities at the Jolly Ranch project.
PRELIMINARY SWABBING OPERATIONS FROM TWO OF THE FOUR STAGES ON THE CRAIG 15-32H LATERAL WELL HAVE PRODUCED IN EXCESS OF 100 BOPD, BEFORE COMMENCEMENT OF SAND FRAC OPERATIONS
TWO FURTHER VERTICAL WELLS, THE CRAIG 12-33 AND CRAIG 4-33, HAVE REACHED TOTAL DEPTH AND ARE BEING COMPLETED AS PRODUCERS AFTER ENCOUNTERING SIGNIFICANT HYDROCARBONS DURING DRILLING
NUMBER OF WORKOVER RIGS ON-SITE INCREASED FROM ONE TO THREE TO ACCELERATE COMPLETION OF PREVIOUSLY DRILLED WELLS AND INCREASE PRODUCTION
TWO 3-D SEISMIC ACQUISITION PROGRAMMES UNDERWAY
The Jolly Ranch project, covering approximately 370,000 gross acres, comprises three areas, Jolly Ranch, Middle Mist and Mustang Creek, situated in Lincoln, Elbert and Washington Counties, Colorado. Nighthawk holds a 50% interest in the project and Running Foxes Petroleum Inc. ("Running Foxes"), the operator, holds the remaining percentage interest.
To date, approximately US$50 million gross has been invested in the Jolly Ranch project by Nighthawk and Running Foxes in respect of land and seismic acquisition, drilling, well completion and infrastructure. In addition, during June 2009, Schlumberger Data & Consulting Services ("Schlumberger") completed an independent evaluation of the hydrocarbons in place at Jolly Ranch and concluded the P50, or most likely, oil in place over 246,000 project acres, using probabilistic methods, was 1.462 billion barrels gross. Schlumberger also concluded that the regional continuity of the formations was such that the resources in place are likely to be laterally continuous.
During the last six months the previously drilled vertical wells that have been tested have demonstrated economic production rates from a number of horizons, including the Marmaton, Cherokee and Atoka. In particular, the Craig 4-4 was completed in early July 2009 and continues to produce at an average rate of 65 bopd from the Cherokee formation with no significant decline in production noted.
Vertical wells, on a stand-alone basis, remain integral to the economic development of Jolly Ranch and offer the potential for significant financial returns for the project. The directors are of the belief that lateral well technology, as demonstrated in the Bakken shale oil fields, should also be applied in parallel with vertical drilling at Jolly Ranch, potentially providing enhanced rates of return over and above those already demonstrated.
The current drilling programme comprises five vertical wells and one lateral well for which a summary follows:
On 1 October 2009 Nighthawk announced that that the first lateral well on the Jolly Ranch project, the Craig 15-32H, reached a total depth of 8,554 feet, of which 2,006 feet was horizontal through the Cherokee formation, and had been cased ahead of fraccing and production.
Two of the four stages of the lateral section of the well have been subjected to acid fraccing to date and even at this preliminary phase of completion 109 bopd have been swabbed from the well.
Acid fraccing, which is undertaken prior to sand fraccing, is a process that etches the reservoir and provides an enhanced pathway for the sand fraccing operation, typically enlarging the effective drainage area of the well, thus increasing production.
The 15-32H will now be put on pump and, following a period of production testing, all four stages will be sand fracced at a later date.
These early results at this stage of development are indicative of the performance seen from analogous wells in the prolific Bakken shale oil developments in North Dakota.
The Craig 12-33, a vertical well targeting the Atoka and Cherokee formations, has been drilled to a total depth of 7,602 feet into the Mississippian. Significant oil was encountered during drilling in the Atoka and Cherokee formations.
Production pipe has been successfully run on the 12-33 and the well is being completed as a producer. The 12-33 has swabbed up to 40 bopd from the Atoka formation following a small acid fraccing exercise. This will be followed by sand fraccing into the Cherokee zone and placed on production pump by the end of next week.
The Craig 4-33, a vertical well targeting the Atoka and Cherokee formations, has been drilled to a total depth of 7,572 feet into the Mississippian. Significant oil was encountered during drilling in the Atoka and Cherokee formations.
The 4-33 well has been cased for production and completion operations, including fraccing, will commence in the near future.
The Patterson-UTI ¿190 drilling rig has now moved to the Craig 10-28 drill site where vertical drilling is currently underway.
The Craig 6-4 well, the fifth and final well of the 2009 drilling programme, will be drilled to the Arbuckle formation and used as a water disposal well. Following State approval, water disposal lines from the existing Craig wells will be tied in to this well.
Number of workover rigs on-site increased with emphasis on increasing production
Following testing of various production horizons in the previously drilled wells, the number of workover rigs operating on-site has been increased from one to three. The objective of this exercise is to accelerate the completion process of these wells, leading to increasing production levels over the coming months.
3-D seismic acquisition
Nighthawk and Running Foxes are currently planning two 3-D seismic acquisition programmes. One will expand the existing 3-D coverage in the area of the Jolly Ranch acreage; the other will be shot in the vicinity of a competitor's recently discovered oilfield, producing from the Cherokee formation, near the Company's core project area.
David Bramhill, CEO of Nighthawk commented:
"We are very pleased with the current results from the ongoing programme, which we believe will create further significant value across the wider project area. Although early days, we are particularly encouraged by the similarity of these findings to those encountered in the Bakken formation, the only other shale oil play in North America. We believe this progress will continue to delineate Jolly Ranch as a world-class hydrocarbon development."
Tim Heeley B.Eng (Hons) a member of the Society of Petroleum Engineers, Fellow of the Geological Society of London and a Chartered Energy Engineer, who is Commercial Director of Nighthawk and has over 12 years of experience in the hydrocarbons industry, has approved the technical information contained in this announcement.
Nighthawk Energy plc
Someone just bought 3,126,908 shares in hawk at 35p.
Fingers crossed someone knows something big, as they have been pretty stagnant the past couple of months.
Well this just got fucked in the arse, down near 20% today.
Not a 'bad' RNS per say but nothing new and shows that they have not actually to this point done a great deal. Similar promises that were made in 2008 that are yet to happen.RNS Number : 5135H Nighthawk Energy plc 23 February 2010
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
Jolly Ranch Update
Nighthawk, the US focused hydrocarbon and production company (Tickers: AIM: HAWK and OTCQX: NHEGY), announces an update in respect of the Jolly Ranch project ("Jolly Ranch") in which it holds a 50% working interest with Running Foxes Petroleum Inc., the operator, holding the remaining 50% interest.
Jolly Ranch comprises both conventional and non-conventional oil producing horizons targeting primarily Pennsylvanian age formations, namely the Marmaton (conventional) and Cherokee and Atoka (non-conventional) shales.
The project covers approximately 370,000 gross acres located in Lincoln, Elbert and Washington Counties, Colorado. In July 2009 Schlumberger Data & Consulting Services ("Schlumberger") reported that the P50, or most likely, oil in place in the three primary formations across approximately two-thirds of the acreage is 1.462 billion barrels gross. In addition, the assessment stated that there is reasonable certainty of reservoir and source rock continuity over the project area and surrounding acreage.
· Jolly Ranch is a potentially world class shale oil project located in the southern part of the Denver Basin
· 13 vertical development wells targeting the Cherokee and Atoka shales (including one well which was sidetracked horizontally), three shallower wells and two salt water disposal wells have been drilled on the project. In addition, an existing production well completed in an Atoka sandstone reservoir has been acquired from the State of Colorado
· The project is producing oil from the Atoka and Cherokee shales at depths of 6,500 to 7,500 feet
· The operator anticipates an upward trend in production from current average test production levels of approximately 150 barrels of oil per day to an initial target of 1,000 barrels gross per day during 2010
· The operator has completed three new 3-D seismic surveys that are presently being interpreted. Re-evaluation of the previous 3-D seismic surveys has indicated a number of conventional targets, basement faulting and areas of potential sweet spots
· Schlumberger has been engaged to complete an extended modelling and reservoir simulation to allow development of production and recovery profiles, with the results to be used as the basis of an independent reserves assessment
· Companies that are actively leasing in the area are Unit Corporation, EOG Resources, Newfield Exploration, Sundance Energy, Wiepking-Fullerton Energy and McElvain Oil and Gas
· As at 22 February 2010 Nighthawk had US$18.3 million in cash and liquid investments and remains debt free
David Bramhill, Managing Director of Nighthawk, said: "Nighthawk's primary objective is to build value around Jolly Ranch, a sizeable low risk, high reward asset. We are focused on increasing production levels, in conjunction with proving up the extent of the asset in order to generate maximum value. We believe that Jolly Ranch can be established as a high value shale play similar to prolific shale projects such as the Bakken, Barnet and others throughout the US Mid-continent. These shale plays can command exceptional exit prices once producibility and economic parameters are exhibited."
The market hates HAWK, its tough enough for good news to make it move upwards so anything that has a negative spin will crash it like a lead weight.
I have been following HAWK attentively after reading all the posts on here about it. In fact today I freed some cash into my ISA shareholdings to purchase some shares at 25p (lowest in 6 months by my research). But they cannot be put into an ISA so that fucked my plans, now I have the cash ready to put into Lloyds unless something better comes along soon.
I am stunned the way the marker reacted to this news. Its hardly bad, but I guess expectations are high. Tempted to dump some RBS to top up.
Dropped over 26% today, down to 14.75p! Not sure if this is due to a couple of high profile retirements. Tempted to stick some in and see if they rebound to 20p for a fast 30% or so take.
EDIT: I think my iPhone app StockWatch has messed up, it reports a 6.19p fall whereas digitallook reports 1.75p fall for today.
Last edited by evilsatan; 1st October 2010 at 11:41 AM.
SP as of 1st July 2011 1454hrs: 5.09p
Only thing theses are good for are off-setting capital gains..... : /
28/7/201 1400hrs: 5.093p
Anyone get a letter about these shares being split today??
i got a letter about buying new shares and the split. going to take up the offer - sitting on huges losses with this, so any extra £10 to average down significantly is well worth it!