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

Here we are.......

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.

No talk of a take over factored in to that broker report.

Surely the arbitrage guys would be falling over themselves if a bid was genuinely a possibility? I have heard nothing from them, only press speculation.

Who cares about a bid.

The stock is way undervalued.

never buy on rumours of a t/o ..... they are often false, and it is also far from uncommon for a tabled bid to fall apart during process

The earlier comment from a broker sums it up, imo:
"The reason for the fall is that a 170km gas pipeline would need to be built to transport the gas which could cost around $1bn. Also production is not expected until 2015. But chiefly it is because the market wanted oil and it got gas."
So why is it undervalued and why is it a possible t/o target?

because nuclear power programmes will now been delayed while the fallout (sorry about that!) from the japanese experience is digested and new safety precautions devised and implemented ...... that implies that gas will be in greater demand as it's simple and clean ..... it also happens that the HOIL gas field is massive, and the market, though often or even usually right, seems to have missed the point

Buyers coming back in now. NICE

Intraday reversal. Blue on IG Index now.

gold they have on several accasions given out the same info on other companys nothing come of these . look at sainsbury they have had several bids but still no one has bid . my self i think it is still a good to hold thiis share

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TANKER - 22 Mar 2011 08:07 - 397 of 418
back to 270p soon be aware......... ends.

Are u sure your not wanting to try to load up on the cheap ????????????????????

yes i would love too

So you are admitting that you have tried a ramp here then?.

Dont forget the FSA are getting really tough on this now. Advfn have had a marked increase in court orders i read going back to those oilys where de-rampers were at play.

Any way Ive filtered you. I dont mind the next man talking a stock down or shorting it as long as hes genuine in what hes doing and he can provide back up, but you have done neither and your last 2 posts are what should be avoided by all posters.

i have not ramped i just said yes i would like to get them at 270p and do not think that a bid is coming . my thoughts

ifr you do not like to think it could fall as well as rise then dont buy shares

more buys than sells and down

He he. 3 posts in very quick succession. Cant see what ur saying bud your filtered, but obviously your rattled. The mark of a man whos frightened.

Wouldnt want it to get out that your a full legit ramper would we LOL. Make no wonder cyners kicked your ass this morning.

Nice to see this back in the blue again. As per broker note from yesterday I fully agree its way undervalued.

Mr T ..... you speak like a politician ...... you effectively say sell but a while later, when sp is clearly not on the slide, you suddenly opine that you are happy to hold .... make your mind up sonny!

Shell seem to think Iraqi gas is significant ...


Iraq to review Shell gas deal next week
Baghdad: 1 hour and 40 minutes ago

The Iraqi cabinet's energy committee has asked the oil ministry to review the economics of a $12 billion natural gas joint venture with Shell and Mitsubishi, the oil minister said.

The ministry plans to report its findings next week. "Next week we will have a meeting to present a clearer vision of the economics of the contract," minister Abdul-Kareem Luaibi told a news conference on Tuesday.

The deal with Shell and Mitsubishi is intended to allow Iraq to use some of the 700 million cubic feet of natural gas it flares each day to fuel urgently needed domestic electricity generation.

Shell chief executive Peter Voser said last week the oil firm hoped the deal would be approved soon, while acknowledging that progress had been "slower than we anticipated".

Iraq is in the early stages of opening up its oil and gas industry to international firms in the hopes of rapidly expanding production, now barely above levels achieved under international sanctions before the overthrow of dictator Saddam Hussein in 2003-Reuters