PA28 PLT OBSERVED AN L39 PERFORM ACROBATIC MANEUVERS WITHIN THE CLASS G ARPT AREA AT HIGH SPD.

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MY STUDENT AND I TAXIED TO RWY 31. WE STOPPED IN THE RUN-UP AREA NEXT TO COMPANY TFC. I HEARD A C152 CALL FINAL AND WATCHED HIM CROSS OVER THE NUMBERS AND LAND ON THE AIM POINT MARKERS ON THE RWY. I THEN SAW AN L39 FLY LOW AND FAST OVER THE RWY AND OVER THE CESSNA AT ABOUT 100 FT AGL. THE PLANE THEN PITCHED UP AND BEGAN A LOOP OVER THE RWY; ENDING HIS LOOP AT ABOUT THE SAME ALT HE BEGAN IT AT; ABOUT 100 FT AGL. HE THEN TURNED R IN WHAT LOOKED LIKE 90 DEGS OF BANK AND CIRCLED BACK AROUND XING OVER THE RWY PERPENDICULAR; ONCE AGAIN; ALL AT ABOUT 100-200 FT AGL. HE FOLLOWED THIS UP WITH A L TURN AT ABOUT 90 DEGS OF BANK TO THE L COMING RIGHT BACK DOWN ON THE CTRLINE OF THE RWY. AT ABOUT MIDFIELD; HE PITCHED UP AND BEGAN DOING BARREL ROLLS TO THE L; 2 TOTAL. THEN HE PERFORMED A WING OVER TO THE SW. THE WHOLE TIME NEVER MAKING A RADIO CALL. I CALLED ARPT MGMNT AND HE WITNESSED THE SAME EVENT. AS I DEPARTED THE PATTERN TO THE S; I WATCH AS HE ENTERED IN TO A 5 MI FINAL FOR RWY 31 AT ABOUT 100-200 FT AL. HE THEN LANDED AT THE ARPT. HE IS A LCL HERE. I TALKED TO THE LCL SHERIFF'S OFFICE AND WAS TOLD THAT HE HAS DONE THIS BEFORE AND HAS BEEN WARNED ABOUT IT. HE HAS ALSO BEEN WARNED BY THE ARPT MGMNT NOT TO DO THIS EITHER; BUT YET HE STILL DOES WITH LITTLE REGARD FOR THE ACFT TRAINING IN THE PATTERN OR NEAR THE ARPT.