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

ouch! ..... at the moment at least, looks as though i should have taken profits

Took your eye off the ball cynic, just come in from work and couldn't believe my eyes.

confess i did not see the RNS until sticky digit pointed it out ...... anyway, lots of 2-way traffic and i guess some profit-taking was overdue ..... still reckon it's a load of sabre rattling for the press and hoi polloi

Luckily took a small portion of profits earlier on .....but this is a real knock back !.

maybe .... but buys/sells were level

Hope that this does not drop anymore, still in with a hefty amount of shares...!....it shows that in this market, this year it is good to take profits along the way !.

still nicely in the money here and fully expect it all to bounce back .... just hope it's not too scary in the meantime

Was hanging on and hoping for a drop so I could get in.... got more than i bargained for. lol As cynic says buys and sells level, possible up again quite soon. do i dip my toes tomorrow a.m. or wait and see?? Crystal ball where are you.

crystal balls says yes

Bagdad probably will have to send experts to the Kurdish oilfields to check things over and stamp their approval over it.....then they will work out who gets what in percentage terms but if they are saying it is good for Iraq that there are new oil exports : well it does look like that in the end everybody will be happy....I'm pretty certain that the Bagdad authorities will not want a blocking by the Kurds of exports and money flowing in !.

this last bit of the RNS was the most important ......

Shahristani (he's the geezer what was jumping up and down!) has defended his record against criticism that Iraq's oil output of 2.3-2.4 million barrels per day remains at below the level it was at before the 2003 U.S.-led invasion.
He faces calls to testify before parliament.
The joint news conference with Dabbagh appeared to be a signal that the government intended to stand by Shahristani as he prepares to announce the results of the first round of service contract tenders over two days on June 29/30.
Dabbagh said he hoped new oil and gas laws -- held up in parliament -- will resolve the issue of oil deals.
In a conciliatory tone that suggested the government's stance could be softening despite its rhetoric, Dabbagh also said the launch of Kurdish crude exports was good for Iraq, which desperately needs money to rebuild after years of war.
"It will narrow the gaps between the different points of views," he said.

On this there should be a rebound tomorrow....oil is at the moment in a rising trend : $71.34 when I last looked...producers and explorers with assets should continue to rise.

Cyners, due dilligence as still to be done on this deal, how on earth can auditors give the thumbs up knowing some operations are illegal????????????.

quite easily actually and the (il)legality is patently debatable depending on whether or not you are an iraqi minister!

The bottom line is : Iraq needs exports of oil and the companies that the Kurds have given the go ahead to (AXC, HOIL..etc) are already up and running and doing a fine job....are the Bagdad authorities really going to put a halt to this ?....it would be a major setback for their exports and the relationship between Northern Iraq and the rest of the country would be strained !.

announce the results of the first round of service contract tenders over two days on June 29/30.

prob heavy volatility until then

Does that include Kurdistan ?

yes - see rns above

Interim results also out for HOIL on 18th june. May be glossed over under the circumstances.

Business Financial Newswire
"Heritage Oil has raised 132m gross via a placing of 25.4m shares -representing 9.8% of the existing share capital - at 520p each.
The placing price represents a premium of 2.9% to the closing price on 12 June 2009. "