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

just about on way to airport, but i must be very thick indeed or missed something ...... HOIL seem to release a very excting RNS and sp slumps ..... what's going on????????????

I sold just a few days ago...perhaps it's that ?....market expecting oil instead of gas ?....

Good point cynic.

I'm astonished!

Bought back in.....difficult to time....but it's a massive discovery......

StockMarketWire.com
Heritage Oil has revealed a major gas discovery in the Kurdistan region of Iraq.

Heritage estimates the Miran West structure has P90-P50 gross in-place volumes of gas of between 6.8-9.1 trillion cubic feet with 42-71 MMbbls of condensate and 53-75 MMbbls of oil, following testing at the Miran West-2 well.

The well was initially designed as an appraisal well for the Cretaceous section and was subsequently modified to assess the exploration potential of the deeper formations, eventually being drilled to a total depth of 4,426 metres.

The well results have confirmed three additional pay zones within Lower Cretaceous and Jurassic formations, in addition to the pay zone identified in the Upper Cretaceous in the Miran West-1 well.

CEO Tony Buckingham said: "The discovery of a major gas field of up to 12.3 TCF in-place with exceptional flow rates makes this one of the largest gas fields to be discovered in Iraq.

"This well has substantially de-risked the field so we have the confidence to accelerate the work programme on Miran.

"We are considering various development options including a tie-in to planned infrastructure that will achieve first production for both oil and gas in 2015.

"This discovery has the potential to generate substantial further value for our shareholders and benefit the people of Kurdistan and Iraq."

Broker target (based, I assume, on HOIL data) was "the pre-drill estimate of 1.15-2.94bn barrels of recoverable oil." The actual HOIL estimate has come in at 53-75 MMbbls of oil.

Still.....massive amount of gas.....drop overdone....

Gas doesn't have the same effect on sp as an oil find.

No....but...more discoveries to come......drop overdone....same with CEY....time to buy....

This doesn't make sense but I just bought in at 349p.

The fall is terrifying... 341p now.

ive just bought some at ..... 3.42 am i a clown?.

now 327p

now 315p

we're all doomed ..

bad investment today

.

Sold much earlier on......could sense it slipping....only lost a small amount....in the nick of time it seems...the worst thing is that tomorrow morning : further drops are possible....

or a bounce back to reality....

Way overdone...that's why I bought some earlier but it started to slip...and the drop now looks crazy but it's happening....the odd thing is that Sterling Energy might discover a large reservoir of gas or such and the sp would then rocket....