Another newcomer to the main market...anybody any idea what the production figures are ?

Well, well, well as they like to say in the oil industry !.

sold out this morning with a profit following the sudden rise but it may have been premature [or poss a good thing depending upon the news]

Oh dear, trading is suspended on reverse takeover talks. Anyone know what this means if the takeover happens or not? I am sitting on a nice paper profit on these.

Camel .... you cannot possibly know if it is a t/o of HOIL, a reverse t/o or even something totally different

I hope it's not suspension of activities by the Kurdish local government because of Bagdad......heavens help those with heavy long positions !, if that's the case....

Could be Tullow oil....see latest RNS...!

i take it you mean the one from 2nd June .... anyway, if TLW was the target that share would also be suspended, or more to the point, would have rocketed away ..... if the predator, i suspect they too would have had to put out an announcement

cynic, I can possibly know :)
It says so in the press release:
"Heritage Oil Limited ('Heritage' or the 'Company') notes the recent movement in the Company's share price. The Company confirms that it is in preliminary discussions with a third party regarding a possible merger which would be treated as a reverse takeover..."

new rns then .... well done

i guess happens what next to sp relates to the perceived or potential or actual terms of any t/o, reverse or otherwise.

of course what would be jolly would be to discover that you held shares in both parties

some more news via Reuters .....

Heritage did not name the third party but said any deal would be classed as a reverse takeover, which analysts said suggested a private company or a one seeking a London listing.

Credit Suisse analysts said in May that Heritage would be a logical purchase for one of the Chinese state oil companies which in recent years have been snapping up energy assets across the globe to fuel China's economy.

==========

on the basis of what ONGC paid for IEC, i hope it is not just wishful thinking that the ultimate price will be at a considerable premium to today's 580 ....... all will be revealed in due course

7 or even 8 a share minimum I would like to think, possibly much more !.

It says in the last RNS : that they are taking over a company.....would this be : SEY or even GKP ?,.... the mystery deepens !.

So a company wants to buy Heritage, it gets HOIL to say it wants to acquire itself......this is all very confusing and we could see more dramatic ups and downs if the sp is unfrozen !.

DJ Update 3

" Ambrian analyst Werner Riding said potential suitors could include Norway's DNO International ASA (DNO.OL) or Canada's Addax Petroleum Corp. (AXC.TO). Both have assets in Kurdistan, and Addax also operates in Africa, he said. Neither company could immediately be reached for comment.

Riding said he wasn't surprised by news of merger talks. "One of the key investment rationales for Heritage was the possibility of a takeover down the line because of the quality of its assets," he said.

Panmure Gordon & Co. analyst Peter Hitchens agreed, saying Heritage's assets in Uganda and Kurdistan are "world class" and would be attractive to a major oil company.

Heritage said in May it was reviewing options to fast-track development and start production in Uganda as soon as possible. It said it had been approached by a number of parties interested in financing the needed infrastructure. Options included a development using an existing railway in east Africa, a 1,200 kilometer pipeline to Mombassa, Kenya and a refinery.

China National Petroleum Corp. and China Petroleum and Chemical Corp. (600028.SH), also known as Sinopec, have shown an interest in joining the Uganda project, a person familiar with the matter told Dow Jones Newswires last month, and there has been speculation they or other Chinese firms like PetroChina Co. Ltd. (601857.SH) might be interested in acquiring Heritage or its assets.

Hitchens said a Chinese company would be more likely to simply make a straight offer if it wanted to acquire Heritage, so a merger classed as a reverse takeover suggested it was someone else.

Malcolm Graham-Wood, director at brokerage HansonWesthouse, said Middle Eastern sovereign wealth funds might also be interested in Heritage and its assets."

NB, one other report touts 7 to 8 per share take out value.

the more in the melting pot the better .... anyway, should more than than compensate for my dumb call on WOS!

in a word DOH!!! a profit is a profit but a big profit is always better.

Be gentle with cynic first thing in the morning..:))

you're right .... i respond well to a gentle fondle and some tlc!

7 to 8 seems a bit mean especially when brokers were calling this one up to between 10 and 14 only about a month ago on the good news re ... find.

Any thoughts cyners fellow thread posters??.

Heritage might turn the first offer down.