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

I don't know anything about this company myself but the share graph indicates another exploration company which is not living up to its shareholders hopes and dreams .
Investment in such shares is not for the faint-hearted.

good news sp should rise steadly over thee coming weeks

HOIL has halved its sp since the beginning of this year.

currently buying back 10% of shares in issue at a cost of $100m, they have bought around 15m shares with around 10m to go yet their sp continues to fall, is this an exercise in wasting shareholders cash?

Nice rise from today and long overdue.

is the share buyback beginning to help their sp?

I doubt it...Griffin mining have been doing the same for ages and it has not made a bit of difference....market probably thinks the company has prospects which it has...

maybe there is some news relating to the settlement of the outstanding monies that Heritage us being owed. That would be very good news.

nice rise in sp, RNS coming?

RNS interesting move into Libya.

Now, .....in better times this would have soared.....just shows....good move I'd say.....another red of mine but I will stay put......

http://www.investegate.co.uk/Article.aspx?id=201110050700225675P

http://www.investegate.co.uk/Article.aspx?id=201111010700302100R

Back to 2008 prices

Don't I B****y know it!! hey ho.,.

lol Balerboy.

StockMarketWire.com
Heritage Oil will appeal against a ruling by the Uganda Tax Appeals Tribunal in the wrangle over the assessments on the companys wholly-owned subsidiary Heritage Oil & Gas Ltd.

Heritage says the ruling from the tribunal is part of the domestic process and is not final and determinative.

HOGL has challenged the assessments on the disposal of its entire interests in Blocks 1 and 3A to Tullow Uganda in July 2010.

HOGL has at all times disputed the jurisdiction of the Ugandan courts and tribunals, in view of the existence of valid and binding arbitration provisions in its production sharing agreements with the Uganda government. Heritage and HOGL remain of the view that no tax was due or owing on the sale.

Chief financial officer Paul Atherton said: "Given the publicity this case has generated in Uganda, it was always going to be difficult for the tribunal to rule against government but we believe firmly in our position that no tax was due in Uganda as a result of the sale of Blocks 1 and 3A.

"We instigated arbitration in London as provided for in the PSAs as we consider this to be the appropriate avenue and that process is ongoing.

"We will also continue to vigorously pursue all legal forums open to us against this fundamentally flawed ruling."

HOIL mentioned at the end of article.

Investec bullish on Genel Energy as Kurdistan risks diminish
10:58 am by Sergei Balashov Genel's 2012 drilling programme is targeting more than half a billion barrels of oil of unrisked reserves
Investment bank Investec (LON:INVP) says the political and financial risks in Iraqi Kurdistan are shrinking, which bodes well for oil explorers operating in the region such as Genel Energy (LON:GENL).

Investec analyst noted Stuart Joyner sees the recent news flow from the semi-autonomous Kurdistan region of northern Iraq as positive with export payments being processed and ExxonMobil (NYSE:XOM) signing exploration contracts in the region.

“Whilst a permanent Oil Law for the country as a whole is a ways off yet, we are cautiously optimistic that the political and financial risks are diminishing and it is against this backdrop that Genel's growth will come,” said Joyner.

The 2012 drilling programme planned by Genel, which is led by former BP (LON:BP.) boss Tony Hayward, is targeting more than half a billion barrels of oil of unrisked reserves.

According to Joyner’s estimates, the Genel’s production, mainly from Taq Taq and Takwe fields, could double to 260,000 barrels of oil equivalent per day net to the group.

Furthermore, he said the current estimate of the company’s resource base of 1.3 billion barrels of oil equivalent is “conservative” and the 2012 drilling programme represents an organic upside of 85 pence per share.

The analyst has set a target price 1,175 pence for Genel based on a Brent crude price of US$100 per barrel, a substantial premium to Thursday’s closing price of 746 pence.

This estimate does not include potential M&A activity, while Genel has US$2 billion in the bank that it could spend on value enhancing acquisitions.

Calling Genel an “obvious regional consolidator”, Joyner named Longford Energy, Shamaran, Dana Gas and Heritage Oil (LON:HOIL) as possible takeover targets for the group.

I've dropped a long bet on Heritage, lets see how it does. Agree this has been a potential takeover target for some time now.

HSBC summary note on Oil Co's in Iraq:
"We initiate coverage on Genel Energy (Neutral (V), TP 810p) and Gulf Keystone (Underweight (V), TP 280p)
We also reappraise the potential of Afren (TP 175p from 179p), Dana Gas
(TP AED0.64) and Heritage Oil (TP 250p from 282p), on which we maintain Overweight (V) ratings".