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And the BOD have not issued an RNS stating 'no known reason'......perhaps the reason is known and includes the following; Another massive investment from JC CBA delaying for 6 months Internal reserves updated based on existing WF Farm out. Today has shown it won't take much to lift this above 1p
HAWK would need to release an RNS if this is a false dawn... will be a very interesting day.
Back into recovery mode...come on Hawk release those latest well figures..
SP rising very easily...
And we are off ...
There was an increase to the hedging referenced on 3rd August but the end date again was Dec 2017. So unless we have not been told.. hedging has most likely ended.
I can't see any new hedging since the company update on 3rd January 2017.
Hi Hicks - Unless we have news ones I believe the last hedged deal ended in Dec 2017?
Annoying as cannot get a firm price via ii.
.. we go. At the very least the monthly revenue should be higher now that the price of oil has risen somewhat.
I still see this in a slightly different light. CBA could have agreed to extend as the reserves now cover the debt. Hawk have said on a few occasions that the lending base was based on reserves not including the water flood. Hawk carried out an internal reserves report using a 3rd party.. was this enough to convince CBA? The inclusion of the investment bank will help Rick find other methods of funding and manage the ‘financial relationship’ with our Swedish investors. The farm in is a cost effective way of exploring potential producing zones outside the WF area when you don’t have your own spare cash. I see the SP rising..IMO. Monthly income will be more since the price of oil has increased.
Unable to get a firm price on ii trading.
The price of oil / wf progress will determine new drilling. Hawk also has the farm in which could take place anytime.
Great news. I did suggest this could happen a few posts back. Another 6 months, so suggests CBA have taken onboard the updated internal reserves report. Shame the news is out during a trading quiet period.
In the half year report Rick uses the following words regarding CBA 'However, the Company reserves, as determined by external reservoir engineers, do not include any potential incremental reserves as proved developed producing reserves and as such, our borrowing base continues to fall short of the reserve base loan lenders outstanding loan balance' Interesting how Hawk engaged with 'iReservior.com' to update their 'Internal' estimates. The results are attributed to the WF. CBA will have been presented with this information and maybe, just maybe will seek confirmation themselves. .. If the revised data covers the loan...could we see another revision in the pipeline?
Hi Hick, Happy to agree it is wishful thinking...
If only the news was presented in a different way... It does appear to be confirming the WF is working. The Daily production could have increased 'significantly' at some period during October this giving an average we have been presented. It also could be that there was a drop then an increase... I will accept the monthly. Now if the rise in production was towards the end of October...
No reaction - I realise trading slows during this period of the year but Hawk is off the radar. They need to send a big message out to the market 'that all is well' to prevent a return to the recent lows. The confidentiality of monthly figures is intriguing - who is dictating this?
It would appear obvious that this engagement to look at the reserves has been required by either the Investment bank or CBA or both. I still take this as positive in relation to the future of the company post 31st December. Failure is priced in so let�s see what the reaction is.
I have been asking the company direct if there is a waiver of 31st October with CBA and Nighthawk have been tight lipped. They had been responding previously so judge as you may... good news or bad news on the way. L&G I am hedging on good news. Have a good weekend.