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

is there an ex divi date for the special divi?

edit answered my own question. it is proposed to...

Been in for ages.....the trouble with dividends like this...aka..Amstrad gave one years ago, and then the stock dropped by more than the dividend which you have to pay taxes on...so...Heritage's sp will have to rise by a pound at least to keep me happy....if it remains at current levels and then goes ex-dividend with a diabolical drop : I will be cursing !...

From this week's Shares Mag (Tom Sieber):
"Shares in oil explorer Heritage Oil (HOIL) have slipped 22% since the group disappointed the market with results from an appraisal well on its Miran West discovery in Kurdistan, Northern Iraq (Apr 7). Since the report was inconclusive, and did not represent an outright failure, investors should use this as an opportunity to buy ahead of further activity in the country and exploration and appraisal drilling in Pakistan and Malta later this year.
The well in question, Miran West-2, will be drilled for a further four months to test deeper targets, after Heritage indicated it would be difficult to produce oil from shallower depths. The 1.3 billion market cap also plans to penetrate the neighbouring structure, Miran East, in the second half, and expects to get government approval for the $1.5 billion sale of its Ugandan assets before the end of June.
Shares says: Buy at 454.9p."

Is Hoil a buy and hold whilst below 4 seeing as the deeper drilling of the miran well should be completed in the next few months?

Is anything a buy at the moment I wonder?

don't be so eeyore dd.,.

StockMarketWire.com
Heritage Oil has declared a special dividend of 1 per share. The special dividend of 1.00 per Ordinary Share will be paid by the Company on 27 August 2010 to holders of Ordinary Shares on the share register at the close of business London time on 13 August 2010, the record date. The Ordinary Shares will be quoted ex-dividend on the London Stock Exchange on 11 August 2010.

Well, it looks like that I shall take it...is this taxable ?....and when it goes ex, will the sp plummet ?......reminds me of that Amstrad dividend...hope it's not going to be the same where it drops by the same amount and on top of that you have to pay tax on it !.

Divi is taxed at source. 1 is the net value you will receive. As for the sp once it goes ex-divi, tricky to say, as this divi is the cash from a disposal of assets, so the asset is gone & now is some of the cash.

Special divi of 1 to be paid to holders next week, a rising share price and a busy drilling schedule ahead. I am going to enjoy this.

Have to say that this will be one of the largest dividends I have ever received....in line with the Amstrad dividends that were dished out.....

SP will drop when it goes ex-div. will buy some more hoil with the special div money when the sp drops back to about 3.5-3.75-ish (imho)

In that case, why not sell just before the divi date on the high & buy back in when it drops (to your 3.50 target)?

It will drop back but by how much....and perhaps within just a couple of weeks will climb back to this level again as a lot of activity seems to be going on in Kurdistan..(GKP and SEY).....so I'll bank my dividend (thank you) and stay put for more good news from Heritage....

Ex special divi today. Currently down 89p, up from the day low.

been a downward trend for a long time, any thoughts on how the SP will react to the results tomorrow ?

back up to four quid please.,.

Tullow Oil dropped in line with HOIL the other day
Think because of ongoing uncertainty about Uganda capital gains tax liability.
Oil price is now about $72 from about $80 probably because of USA uncertainties.
Interim results out tommorrow may provide information about CGT liability,
HOIL say funds have been set aside for this $405M if they have to pay it.
Tomorrow we shall porobably find out how much cash they have ?

HOIL presently capitalised at 892m ( 287.87M shares X 3.10 ).
They do not seem to have a lot going on elsewhere other than
Kurdistan and small action in Russia.
Still no Government in Bagdad remember.

My guess is the whole market will drop back further and their may be
better times ahead to buy everything.
There are presently some good yeilds about,
( EMG about 14%, which should be a good recovery share when market sentiment improves, CHU 8% should recover after heavy insurance losses, AV. 7% wide insurance coverage, you may eventually buy this below 250p on a bad day )
if one is prepared to take a gamble for the next 12 / 24 months prehaps ?

Having written the above I have no idea what the hell will happen tomorrow
Why am I writing - just always been interested in HOIL

Should have said AV. below 350p not 250p as above
Any comments ?

thanks for the comments, it wouldn't surprise me if it continued down but this share has so many brokers giving it a buy rating of 5+