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

Should have Miran 2 news later this month.

maybe, but sp could just be following general market sentiment ....

Fkying...broker upgrade....

I reckon that this is going back to 400p....and there should be good results from the well shortly.....

StockMarketWire.com
"Heritage Oil is UBS's top pick in the European E&P space. Analyst Melanie Savage initiates coverage with a buy rating and 430p target price.

She says the company has high-impact exploration projects in Iraqi Kurdistan and Malta, as well as ongoing leads and prospects in Pakistan, Tanzania and Mali.

It currently produces around 600b/d of oil in Russia and reported 2009 2P reserves of 60Mboe. Around 40% of group NAV is from Iraqi Kurdistan.

'Heritage provides exposure to relatively low-risk high-impact exploration upside in Iraqi Kurdistan and Malta in the near term; we see 92% unrisked upside over the coming year.

'At 79%, Heritage's historical exploration and appraisal success rate is high relative to peers. Additional NAV upside would be provided by a positive resolution of a tax dispute in Uganda and a licence legality dispute in Iraqi Kurdistan.

'Heritage gains access to low geological risk exploration by operating in areas of relatively high political risk. The company seeks to enter countries where it believes it can manage specific country risks.

'We believe Heritage is unlikely to lose its Miran licence in Iraq, in contrast to the market-implied 80% chance of loss.'

JPM lowers price target!

From what to what?

If and I think there are good results coming,.... 400p plus is a very strong possibility...perhaps a lot more....

sorry harry but can't find - need to ask IG what they have done with their reuters bit
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prob at reuters end

Bought a few more...even though oil is slipping....this has to rise..

Excellent day here....

Top of the ftse 350 board....

thanks for the heads up on this one RF .... bought a 50% stake on friday

This one looks like it has further to go, what's the spread like cynic? Never traded it before, if not too volatile may be worth a wee punt.

ask me in the morning when the markets are open as can't tell now ..... from memory, it's pretty tight

Cheers cynic, on my watch list.

Performing today....good news coming ?....nice upward trend....

HERITAGE OIL INTERIM MANAGEMENT STATEMENT
Heritage Oil Plc issues its Interim Management Statement for the period from 1 July 2010 to 17 November 2010, in accordance with reporting requirements of the EU Transparency Directive.

Highlights
The Miran West-2 well, in the Kurdistan Region of Iraq, has reached a total depth of 4,426 metres

The well has encountered indications of hydrocarbons from intervals within the Cretaceous, Jurassic and Triassic in excess of 2,500 metres

Numerous zones for testing have been identified and testing operations have commenced

Production in Russia averaged 516 bopd for the third quarter of 2010

As at 30 September 2010, Heritage's cash position was $614 million, excluding reserved amounts related to the tax dispute in Uganda.

FT sector watcher's view on this today:
"HOIL has finally reached TD of 4,426 metres with its Miran West exploration well in Kurdistan, almost a full year after spudding. Whilst there have been indications of hydrocarbons in the Cretaceous, Jurassic and Triassic zones, these have yet to be proved commercial. In order to do this, the group says that it will test a number of these zones over a total 2,500 metres, with testing having already commenced and expected to take another couple of months to complete. Hence the jury is still largely out on HOIL, although we would take the existence of numerous zones as being encouraging. Valuation-wise it is difficult to make a definitive call on Miran West given the pre-drill estimate of 1.15-2.94bn barrels of recoverable oil, as well as uncertainties over recovery factors, but if we assume the lower end of this range and 50% recovery we get to around 450p/share net to HOIL's 56% assumed diluted interest. Add in $600m of cash and we get to almost 600p/share. There's also a disputed sum of $400m held in Uganda, worth a further possible 90p/share. On balance then I think I'd continue holding the stock, although the shares may not do much until we have a definitve result from Kurdistan."

Going really well here...nice....