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

Yep, and when was it rejected ? 2010 ? Jan 2011 ? 2009 ?

does it actually matter?

Very much so, if it was before they found gas (and not oil) then the offer means nothing and is possibly just being used by someone to try and ramp the price up a bit.

Pump and dump ?

Pot and kettle??

clearly Mr P is gefruntzled that RKH refuses to climb

http://uk.wrs.yahoo.com/_ylt=A7x9Qbt0r4FNjmcAqlNLBQx.;_ylu=X3oDMTBsZ3ZhODNnBHNlYwNzYwRjb2xvA2lyZAR2dGlkAw--/SIG=12p4kmnmd/EXP=1300366292/**http%3a//uk.news.yahoo.com/22/20110317/tbs-uk-heritage-oil-03c9bed.html

Pros hope your not calling me a pump and dumper.

This good enough for you????? 17 mins ago.......

Heritage Oil rejects $1.9 billion approach - report
17 mins ago


Email StoryPrint StoryExploration company Heritage Oil has rejected a 1.2 billion pound takeover approach from a Middle Eastern company, the Financial Times reported on Thursday. The Abu Dhabi-based suitor, whose name was not known, recently sent Heritage a letter offering to pay 425 pence per share, the FT said, citing a source familiar with the situation.

Shares in Heritage, which declined to comment on the report, were up 6.9 percent at 309.8 pence at 9:45 a.m., topping the leaderboard of mid-sized companies .

Arbuthnot Securities analyst Dougie Youngson said the stock looked cheap following news on January 26 Heritage found gas but not oil in the Kurdistan region of Iraq. Heritage stock had been trading at 437 pence before the announcement.

"Heritage has had a pretty bad run since the announcement that the Miran West field is gas rather than oil," he said. "I think the sell-off is arguably overdone. Whenever a company has been hit to the extent that Heritage has been hit recently then the perception of cheapness makes them look attractive."

(Reporting by Karolina Tagaris and Paul Sandle; Editing by Dan Lalor)

GF, no not you.

Recently ? Last month ? 2 months ago ? year ago ? yesterday ?

Probably before the big "gas" find that upset the market as it was not oil.

Ahhhh right sorry mate Im with you. Got worked up with all this selling going off over last couple of weeks. Tends to get me stresfull after a while especially in a morning first hour.

Anyway I thought it was gas the Japs were calling for now ?.

Still think they are undervalued, but 425p ? who knows I dont.

Latest news........

MARKET REPORT: Heritage rises after bid snub
By Geoff Foster
Last updated at 9:22 PM on 17th March 2011
http://www.dailymail.co.uk/money/article-1367369/MARKET-REPORT-Heritage-rises-bid-snub.html?ito=feeds-newsxml

When you are already worth a small fortune, there is obviously no way you are going to accept a bid which you think undervalues your company.

According to reports, the board of oil and gas explorer Heritage Oil has rejected an informal 1.2bn, or 425p per share, cash offer from a Middle East group. Chief executive and 29.7pc shareholder Tony Buckingham, who would trouser a mouthwatering 340m should he accept an offer at that price, apparently wants a lot more for his 80m shares.

Last August Buckingham banked 84.5m after announcing a 1-a-share special dividend following the sale of the groups 50pc stake in a series of oil exploration assets in Uganda to Tullow Oil. The speculation certainly got punters interested again as they chased the shares up to 317.5p before they closed 23.8p or 8pc better at 313.95p. On Tuesday the stock dropped to 277p as several heavyweight CFD (contract for difference) speculators had to respond to margin calls. In other words, cough up more cash or sell stock.



In January, Heritages shares crashed 126p in one crazy session after an oil prospect in Iraq turned out to contain gas. Heritage had previously hoped it would strike oil at the Miran West 2 well in the Kurdistan region of Iraq. Elsewhere, Bank of England banknote printer De La Rue jumped 32p to 807.25p on rumours of another bid approach. The stock lost 15pc in January after French suitor Oberthur walked away from a bid. It had made its first offer of 905p a share, or 896m, in November and said then it was prepared to raise its offer to 935p a share, a level suitably below the 10 a share level that many dealers in the City believe would be required to coax agreement from De La Rues major shareholders.

Looking for another blue day.

Going nicely.

GF Sorelly tempted to buy in a 33% min upside? But holding back,market to unprodictable at the moment due to rhe Japanese situation.Best of luck.

PS.
Ref to post 378
How'd you manage to highlight in such a way,tried messing with my font with no luck? TIA

cyril, just highlight selected text and then click on the "B" above the message box symbols.,.

GF Sorelly tempted to buy in a 33% min upside? But holding back,market to unprodictable at the moment due to rhe Japanese situation.Best of luck.

PS.
Ref to post 378
How'd you manage to highlight in such a way,tried messing with my font with no luck? TIA

BB thanks,what a clever boy i've become?lol

i was not in hoil before the no oil find
however took a risk on gas only find
whst do you think

a bit of fun below
http://www.youtube.com/watch?v=L5YUCygMBiE

hmmm
http://www.bbc.co.uk/news/

lol

http://www.youtube.com/watch?v=INSW12-771o

18/03/11

Brokers note from Evolution Today.


In our current sum of the parts model for Heritage we estimate that Heritages
core value is 193p/sh based on own cash on the balance at YE plus its Russian
assets based on their CPR value (in the December 2009 circular). This excludes
the cash held in escrow (61p/sh) pending the outcome of the CGT dispute with
the Ugandan government (which looks close to being resolved now Tullow has
signed a Memorandum of Understanding with the Government of Uganda) and
before we factor in any risked upside from the exploration potential offshore
Malta, Tanzania, Mali or in Pakistan.

In effect, if we ignore the escrow account and risked exploration upside the
implication is that the market is factoring in just 97p/sh for Miran, implying pretty
much the most bearish case in our modelling (less we assume no monetisation at
all). If we add back the escrow account cash then the implied value for Miran all
but disappears (36p/sh). Hence we believe it is important to fully model Miran to
see the valuation implications.

Our new fair value for Heritage is 467p/sh. This is based on a core value of
193p/sh, 61p/sh for cash held in the escrow account and 212p/sh for Miran where
we have assumed a pre-development sale of the asset at a 20% discount to our
DCF valuation. Our 467p/sh target price no longer assumes any risked exploration
upside from Malta, Tanzania, Mali or Pakistan. So even with this conservative
approach to the valuation, investors still have a 64% upside to the current price.