HAWK EXPLORATION LTD. CL. A V.HWK.A

$1.15 NAV; 0.40 sp

[UptownGirl]

In the latest Brian Mills Iradesso report, he calculates Hawk's NAV at $1.15.  HWK is undoubtedly undervalued when also considering:

- trading under 3 X projected annual cash flow

- is profitable, earning 0.01/share in latest quarter

- debt:cash flow ratio of 0.8:1; remember most analysts consider under 2 attractive

- growing production profile...up 29% year over year in latest quarter

[MikeOxLong7]

Called CEO a couple days ago and had a good chat.  Steve mentioned they are currently railing about 60% of volumes through a company out of Lloyd.  From a cash flow perspective he mentioned the railing vs pipe was pretty much equal in September but rail will help netbacks in current high diff environment and have provided up to $12/boe upside in the past.  They also have about 300