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Last C$0.20 CAD
Change Today -0.025 / -11.11%
Volume 10.0K
HWK/A On Other Exchanges
Symbol
Exchange
Venture
OTC US
As of 3:18 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

hawk exploration ltd-a (HWK/A) Snapshot

Open
C$0.20
Previous Close
C$0.23
Day High
C$0.20
Day Low
C$0.20
52 Week High
07/31/14 - C$0.58
52 Week Low
12/15/14 - C$0.17
Market Cap
9.3M
Average Volume 10 Days
12.7K
EPS TTM
C$-0.01
Shares Outstanding
45.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for HAWK EXPLORATION LTD-A (HWK/A)

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hawk exploration ltd-a (HWK/A) Details

Hawk Exploration Ltd. explores for, develops, and produces crude oil and natural gas in western Canada. Its principal oil and gas properties and production facilities are located in the Plains area of Alberta and Saskatchewan. The company was incorporated in 2009 and is headquartered in Calgary, Canada.

6 Employees
Last Reported Date: 04/14/15
Founded in 2009

hawk exploration ltd-a (HWK/A) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: C$150.0K
Chief Financial Officer
Total Annual Compensation: C$150.0K
Vice President of Land and Corporate Secretar...
Total Annual Compensation: C$150.0K
Vice President of Business Development
Total Annual Compensation: C$150.0K
Vice President of Exploration
Total Annual Compensation: C$150.0K
Compensation as of Fiscal Year 2013.

hawk exploration ltd-a (HWK/A) Key Developments

Hawk Exploration, Ltd. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Production Results for the Year 2014; Provides Production Guidance for the Second Quarter of 2015; Provides Capital Budget for the First Half of the 2015

Hawk Exploration, Ltd. reported earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported petroleum and natural gas sales of $4,136,000 against $3,795,000 for the same period in the last year. Cash flow from operations was $1,816,000 against $1,298,000 for the same period in the last year. Capital expenditures were $3,453,000 against $3,105,000 for the same period in the last year. Comprehensive income was $397,000 or $0.01 per share against comprehensive loss of $1,532,000 or $0.05 per share for the same period in the last year. For the year, the company reported petroleum and natural gas sales of $18,402,000 against $15,394,000 for the same period in the last year. Revenue for the year increased by 20% in 2014 from 2013 as a result of increased annual production and improved pricing in 2014. Cash flow from operations was $7,256,000 against $6,221,000 for the same period in the last year. Capital expenditures were $10,669,000 against $8,894,000 for the same period in the last year. Comprehensive income was $212,000 against comprehensive loss of $1,292,000 or $0.04 per share for the same period in the last year. The company reported production results for the year 2014. The company's 2014 annual production increased 8% to 691 boe/d compared to 637 boe/d in 2013. In 2014, Hawk drilled twelve (11.3 net) wells resulting in nine (8.6 net) producing oil wells in its core area of western Saskatchewan. The theme of the 2014 drilling program was to discover new accumulations of oil in areas where the Corporation had a large existing land base so that discovery wells could be followed up with multiple development drilling locations. In this regard Hawk was very successful. New discoveries were made in the Forest Bank, Yonker, Rush Lake and Eureka areas, all of which will provide for additional drilling. In the Forest Bank area, the Corporation has shot a large three dimensional seismic program which has identified six (3.9 net) additional development drilling locations and ten (6.5 net) recompletion candidates. In Yonker, Hawk's discovery well is still producing at 75 barrels of oil per day and the Corporation has identified four (4.0 net) additional follow up wells. At Rush Lake, Hawk plans on drilling two (2.0 net) horizontal wells and one (1.0 net) vertical well to follow up on its most recent successful step out well. In the Eureka area, the Corporation has identified six (6.0 net) horizontal locations directly offsetting its most recent horizontal well. The company also plans to drill 1.0 net additional vertical well in its core area of Coleville (Eureka) in the second quarter of 2015 which will earn the corporation a 100% working interest in 480 acres of land under a farm-in agreement. The company expects capital in the first half of the 2015 to be approximately $1.5 million. Hawk plans to disclose its second half 2015 budget when it announced it first quarter financial results on or about May 27, 2015.

Hawk Exploration, Ltd. Announces Operating Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Production Guidance for the First Quarter of 2015

Hawk Exploration Ltd. announced operating results for the fourth quarter and full year ended December 31, 2014. The company reported record quarterly production in the fourth quarter of 2014 of 751 boe/d. The company increased total proved plus probable reserves by 59% to 2,875,000 barrels of oil equivalent ("MBoe") from 1,814 MBoe, increased total proved reserves by 17% to 1,335 MBoe from 1,145 MBoe, added total proved plus probable reserves in 2014 at a finding and development cost of $15.68 per Boe, including the change in future development costs, added total proved reserves at a finding and development cost of $28.98 per Boe, including the change in future development costs, achieved a recycle ratio on a proved plus probable basis of 2.2 times based on estimated 2014 operating netback of $34.57 per Boe, achieved a recycle ratio on a proved basis of 1.2 times and replaced 2014 production on a proved plus probable basis by 527% and on a proved basis by 177%. Despite the shut in wells, the company expects another record quarter of production of approximately 780 boe/d in the first quarter of 2015.

Hawk Exploration Ltd. Announces Operational Update

Hawk Exploration Ltd. announced an operational update. The company drilled three (3.0 net) oil wells in western Saskatchewan in the fourth quarter of 2014 all of which are now currently on production. At Rush Lake, the Corporation drilled one (1.0 net) slant well in the fourth quarter of 2014 which encountered oil pay in the Waseca and Sparky/GP formations. This well is directly offsetting an existing Sparky/GP pool and a proposed SAGD thermal development in the Sparky/GP formation. Hawk's well has been on production since the start of December 2014 from the Sparky/GP formation and is currently averaging approximately 55 barrels of oil per day. At Eureka, the Corporation drilled its first horizontal well (1.0 net) on its developing Basal Mannville play. This well has been on production for approximately three weeks and is currently producing 60 bopd. Hawk is very encouraged by this initial production rate and is evaluating future drilling plans using horizontal wells to fully develop the Corporation's land in this area. The producing horizontal well was drilled on crown acreage and is eligible for a crown royalty holiday of 2.5% on the first 38,000 barrels of produced oil. Hawk expects to drill an additional well in the first quarter of 2015 to evaluate the potential on the northern portion of the play. Lastly, at Yonker, the Corporation drilled a McLaren discovery well that encountered three meters of net pay. This well has been placed on production and is currently producing 65 bopd. Hawk plans to acquire some additional two dimensional seismic data on this play in the first quarter of 2015 and expects to drill further development wells on this play in the second half of 2015. The Corporation has set a first half 2015 budget that will see Hawk drill two (2.0 net) vertical wells in western Saskatchewan both of which are expected to be drilled in the first quarter of 2015. Hawk is planning on drilling its second earning well at Forest Bank in the first quarter of 2015 whereby Hawk will pay 100% of the capital costs of the earning well to earn a 65% working interest in one section of land at Forest Bank. The Corporation's first earning well at Forest Bank is currently producing 65 (42 net) bopd. The Corporation also plans to drill one vertical well at Eureka which will earn the Corporation a 100% working interest in 480 acres of land. Hawk has chosen to decelerate drilling on current prospects, but is taking advantage of the current low price environment to drill two wells that earn significant additional acreage and add to inventory of future opportunities. These wells are Hawk's only remaining commitment locations. The company will determine its second half 2015 capital budget during the second quarter of 2015 which will be dependent on the oil price forecast for the second half of 2015. Hawk will remain disciplined and flexible with its second half 2015 capital budget as it monitors oil prices and business conditions. The Corporation has developed an inventory of development drilling at its four core areas of Forest Bank, Rush Lake, Eureka and Yonker, all in western Saskatchewan for the second half of 2015 and into 2016. The Corporation has also identified several well recompletion candidates at Forest Bank where the Corporation anticipates it can add production with low capital costs and anticipates one (0.65 net) recompletion in the first and second quarter of 2015. All of the Corporation's planned capital projects for 2015 are operated and controlled by Hawk. The Corporation will control the pace of development of its projects and accelerate or delay capital spending depending on the price of oil and the Corporation's cash flow.

 

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Valuation HWK/A Industry Range
Price/Earnings 39.8x
Price/Sales 0.7x
Price/Book 0.4x
Price/Cash Flow 1.3x
TEV/Sales -- Not Meaningful
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