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

see GKP post

If they are going to return cash to shareholders : it will be one hell of a dividend....with tax to pay on it....better of with a share buyback or a takeover bid for Gulfkeystone.

I'm always happy to pay tax - the more I can pay the better.

Yes....but the sp will drop when it goes exdividend.....and many a time the sp takes ages to come back......if I was HOIL : I would retain some serious working capital, it will be needed.

long article intoday's FT that is well worth reading .... i assume it's in london FT as have only seen the international edition here

Heritage Oil & Gas is selling its 50% interest in Blocks 1 and 3A in Uganda to Eni International.
Heritage will receive $1.35bn in cash and a further contingent, deferred consideration of $150m in cash or an interest in a mutually agreed producing oil field independently valued at a similar amount.

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TLW have pre-emption rights on these blocks and it will be interesting to see if they exercise same .... they merely(!) have to match ENI's price

The Iranians have taken a well from Iraq, down in the south.....perhaps they could pretend to be at war and get the price of oil rocketing once again.

the story seems to be true, but it does rather feel like "Small earthquake in Chile; few injured" ..... though oil price is up a bit, it's hardly dramatic .... ditto the rise in gold, considering its recent retrenchment ..... and Dow has shrugged its shoulders

the "kids" in Iran are obviously trying to provoke a reaction to divert attention away from their internal problems, you really can't take this bunch of "gangsters" seriously.

This is looking quite good and I presume that an update is not far away.

Tremendous news on 2 fronts today !...why the sp knock down ?.

prob because the miran2 well extension will not be done until later this year, so immediate excitement is now over

the gov't approval of their sale is no news

Ridiculous drop....more oil than predicted plus 10000 barrels production per interval, deeper drilling for more discoveries plus Ugandan sale to be completed within 2 months and the stock slumps....I don't get it....

I would have put the sp up...not down on the future production figures...

XXXX&^%*(!)$$$---------minus,minus,minus...grrrrrr....dry well ?, no of course not : discovered more ! oh ! let's drop the sp then...makes sense....the world's gone nuts....

Check the broker notes. They reckon 5-6 months to finish drilling & re-evaluate.
Drop seems to be a knee jerk reaction to the 'recoverable reserves' figure, which understandably has been knocked back as they are NOT currently recoverable.
Sit tight rf. Should come good eventually, imo. Short term pain for long term gain!

500 would be a really good entry point

any thoughts on where this is going, do we think it will go to the next support level of 420 ?

likely especially when cynic thinks 500 is a good entry.

so it would have been if 200 dma had not failed so easily - along with the rest of the market :-))