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our BB fairy hasbeen at it again and used the magic wand to delete some posts!!! A pity the same fairy had not cast a spell on our management board at Hawk
All we can do is to spread the news about assets sale and hope another company will come up with a higher price. Price higher than debt would need to be paid back to shareholders in form of dividend or kept for the company future, if decide to continue. This is our company and our money. Let's don't forget about it!!!!!
mariog I completely agree.They probably paid a fortune to those so called investment advisors just to be told sell it for anything you can get! There was no evidence of exploring all avenues like mergers/partial sale of assets/more farm outs etc.They have known for ages about the loan deadline unyet seemingly left it all to the last minute.I think they were just praying the Waterflood would work and save them, but had no back up if it failed.I honestly cannot see any hope now.It is such a shame for all us LTH and such a waste of a company that was still producing etc.GLA
Because Hawk is generating this amount in just 10 months!! They simply can't agree to sell all assets that cheap lads. Must be a way to stop that robbery!!
... I would definitely buy this company. Paying even $50m would give me a return of all invested money in just 3 years!!!! Then healthy profit $20m per annum.
that gives us 930 bopd x 31 days x 65 dollars per barrel === 1,800,000 approx...still alive...just
21 wells returned records Snowbird which wasinjection, 0 days injecting!!! as we have found out. C Butte sealed in! 8 wells are up on BOPD, whilst 11 wells are down of BOPD. the three wells in WF area with a target of the magic 425bopd, produced 244, down from 279bopd. cant say much more than the board should have been changed a long time ago, they are still drawing a tidy wage each month!!!
Surely they must have tried to renegotiate the CBA loan as their first option.i assume they are not listening and just want there money back.The problem i suppose is as the WF seemingly failed and production is on the decline there is little to negotiate with.As you say mariog a rights ssue at these levels would be more or less wipe out,but if the company was to be saved from almost certain demise as is, it may rally somewhat .It depends what the terms were.Either way it is not looking good for us SH.GLA
JC offered them a solution in a form of rights issue, which would wipe all of us nicely too. It would save the company but we would lose a almost all as well. The only solution is to TALK TO THE CBA people, pay some penalty and extend loan.
http://www.simmons-simmons.com/en/news/2014/10-october/firm-advises-nighthawk-energy-plc-on-a-new-$100m-reserve-based-loan-facility 02 Oct 2014 International law firm Simmons & Simmons has advised Nighthawk Energy plc, the AIM listed US focused oil development and production company, on its agreement with Commonwealth Bank of Australia (�CBA�) for the $100 million US Dollars Reserve Based Lending (�RBL�) facility, including the restructuring of some of its existing debt.
Main problem is the time, they are in a such a hurry...
Signed by Chuck WIlson. Did they say that they are exporing other options, incl. new loan secured on produced OIL"? NO!!! Management failed. Court will agree with Chuck of course, as there is no pressure from any side to investigate more possibilities. They are selling NIghthawk assets in a hurry like there were some private money behind this lucrative deal!!
Am I right in assuming the deadline we have now is the 1st July when they intend to auction the assets? You would really think JC would have loads of financial contacts/clout to refinace this.Surely even Rick would sooner find a solution to help all shareholders and save face for himself.It does not make sense why him and Chuck seem almost determined to finIsh the company.It is quite obvious now why they never bought more shares when everyone was calling for it.Their shareholdings are peanuts,so they will lose hardly anything.I have been unfortunate [like many] to be involved in several 'wipe outs'.Unless something happens soon i fear this will be another.GLA
No. Better think who could provide emergency loan to Nighthawk now as this is the last chance for us.
Is anyone actually in contact with JC or know if he has had any dialogue with any of the other institutional major shareholders?
nex year report would be even better, because report for 2017 will be based on lower oil prices
Ann report is due possibly this week...that could hold some suprising figures...if we have a small amount in the bank!!!
all we need now is hegding all production at this price and extend CBA loan!
WTI at $72.72 !!
I doubt CBA would discuss anything about Nighthawk debt with other than the bankruptcy court or the board. From what I can gather CBA are sort of where UK banks were 8 years ago with regards to being in financial do do. Calling in the 20 million Hawk owes is like them tipping over the sofa looking for loose change. They must be desperate for the cash.
You got more than me - I didn't get any response.
Wonder if CBA is really demanding all money. Would like to speak to them. Do we have a contact name in CBA or a team that is maintaining Nighthawk's loan?
I had a reply off the NOMAD which was a fob off so I hit them with both barrels and haven't heard back since. I will fire one off to AIM Regulation too then. The more the merrier.
Thank you for providing AIM Regulation with your email of 11 May 2018, copied below, addressed to the board of Nighthawk Energy plc. AIM Regulation considers all enquiries as regards the conduct of AIM companies and nominated advisers in respect of their compliance with the AIM Rules for Companies (�AIM Rules�) and for Nominated Advisers (�Nomad Rules�) and takes action where appropriate. Please note that AIM Regulation's remit does not extend beyond the AIM Rules and Nomad Rules. Further information regarding the remit of AIM Regulation and that of other regulators and competent authorities can be found at the following: AIM Regulatory Landscape. As indicated, we can assure you that we consider all enquiries and investigate alleged breaches of our rules. However, you will appreciate that confidentiality is essential in maintaining the integrity of our work and, accordingly, please note we are unable to comment on individual enquiries. Thank you for bringing your concerns to our attention. Kind regards AIM REGULATION
By someone working in Delaware. A letter in traditional form sent to the Clerk in court is required. Address posted before.