I think my original investment was about £300 but I managed to profit a while back when I sold the offer shares at 12p (bought at 2p????) so overall loss is less than a quarterly dividend from Barclays which I can live with.
Cant remember the last time I bought AIM - apart from Sound energy.
AIM is just far too high a risk.
K2 - its a very sad story, and past directors have not been honest with guidance, and caused uncertainty and bad feeling among investors - someone needs a stint at her majesty's pleasure, but its all rather late in the day now, as directors rarely end up in custody! Commiserations to all holders. AR
CBA are calling in their bank loan, which HAWK cannot repay.
$21.25m owed, but only $1m in the bank.
SP crashed to 0.12p after awful RNS released this morning.
"Whilst there can be no certainty the Company will proceed with the asset sale route, it is likely that any such sale would be effectuated through a series of voluntary Chapter 11 bankruptcy filings by the Company and its US operating subsidiaries and would yield no residual value for shareholders whose interests are subordinated to the claims of creditors and expenses of administration."
No1S - well faith and belief still thrive, even for Nighthawk, BUT, unless there is a remarkable recovery for oil (always a possibility! Or some really good news arrives to lift the SP!!!) its hard to see that HAWK has much of a future, if any... will it still be hanging on by late 2018 I wonder? Clearly the market is pretty sceptical, having market the SP down to a fraction of a penny!
I wish you luck nevertheless - ATB and Have a good Christmas break AR
I don't know that I'd welcome a takeover at the current SP, if there is value in the assets then a sale at a realistic price might be more desireable. However, what a realisticv price is in the current market is open to speculation but I'd be happy with a return of capital 8 - 10p range. That's probably optimistic in the extreme...
If one wants to speculate, I'd observe that as a major creditor, any deal that might be made between the company and it's creditors clearly represents a conflict of interest for JC while he is on the board. I'd say we are now close to reaching the end game on this sorry saga.
We are still in business.
We are still producing.
Failing to get Knutson's onboard!!
Failed JV with Cascade.
A fine of approx $1.5 for not drilling all JV wells.
Plus the cost of $75k for up-hole on Monarch well, production has dropped drastically, and we get 16% of the kitty.
Failing to get Knutson's onboard for bigger WF!
An SP of approx 13.5p when he joined, an SP now of 0.0025p.
Our largest shareholder holder seeing a value of $21.5 m fall to $400k.
Our 2nd largest shareholder seeing a value of $13m fall to $250k.
Our chairman seeing a value of his holding
$15.4k fall to $2750....why should he be worried, his holding has not hit the cents yet!
Why should he be rewarded with his current salary.
CB - well! poor old Hawk - it has been a thorough going disaster, (and having a dodgy director (thankfully departed, BUT escaping HMs pleasure I think!) - that didnt help confidende one bit) So poor old Chuck has had a nigh on impossible task, (and there will be those who say he should have known better!!). As to those shares he bought falling in value, to add to his woes, well he would have been criticized if he hadnt bought, so he couldnt win either way.. so its good to see a bit of sympathy for his plight!
You have to wonder how long the HAWK can limp on from here? It's demise cant be that far off (and with the death knell of the petrol diven car not far off too!!!) its all very sad, Hope all goes well elsewhere for you anyway...... ATB AR
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