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

Yep !, the Kurdistan ones are doing fine except SEY mainly because drilling is 6 months away.

have a look at DGO ..... has been performing well for the last week or more

Any thoughts on this one after yesterday's results. I was hoping for some timeframes for the results from the well test but nothing. Any ideas how long these type of results may take ?

on HOIL? ..... i think it's a cracking company and am very happy to be holding, though i regularly traded in/out too

Cynic, thanks don't disagree, I will be holding long term with AFR

woohoo!!! ..... though note the inevitable and legitimate caveat at the end


UK oil explorer Heritage Oil said it had discovered up to 4.2 billion barrels of oil in the Kurdish autonomous region of Iraq and that production could begin as early as this year.

Heritage said in a statement on Wednesday that its Miran West field would be low cost and straightforward to bring on stream.

However, disputes between the Kurdish regional government and Baghdad over revenue sharing mean existing oil projects in Kurdistan are currently stalled because their oil cannot be exported to international markets.

Tremendous news....great discovery !.

hope you have some of these in your portfolio already!

Quite a few, been in for some time now.....question is where does the sp go from here ?, 2 to 4 billion barrels....crikey !.

sp could go anywhere as it is now in uncharted waters ...... i may even add a few more today on the basis that there is surely still plenty of upside

Well, it's gone quiet here except for the sp which has just sailed through the 500p mark !.

At the moment : the graph cannot keep up with the sp and still the buying continues !, where is the top ?, I wonder !.

Daily Mail

"
Yesterday's trading: Iraqi Oil strike boosts Heritage Oil
By Geoff Foster
Last updated at 9:56 PM on 06th May 2009

What a gusher! Founder and chief executive Tony Buckingham saw the value of his 33 per cent stake in Heritage Oil soar above 410million as shares of the independent upstream exploration and production company closed 99p higher at 500p after striking it rich in Iraq.
Broker Evolution called it a 'truly company changing discovery' which had dealers wondering whether it would do for Heritage what the Rajasthan find in India did for Cairn Energy, 66p better at 2294p. Remember, it catapulted Cairn's shares above 20 and Sir Bill Gammell's group into the Footsie.
Heritage's major discovery is in the Kurdistan region of Iraq. The Miran West structure is estimated to have between 2.3-4.2billion barrels of oil in place and have recoverable reserves of up to 3bn barrels.
Heritage hopes to be producing 10,000 to 15,000 barrels of oil per day by the end of the year, using trucks to move the crude to a pipeline in Kirkik to export. The Miran West field will be low-cost and straightforward to fast-track.
Heritage Oil has struck it rich in Iraq Evolution's analyst Richard Griffith said the potential for Heritage's share price is massive and moved his target price up to 8 from 5, but would not be at all surprised if the shares over the coming months move in the same way as they did for Cairn in 2004.
Rival broker Ambrian raised its Risked Exploration Net Asset Value (RENAV) for Heritage by 238p to 585p and said that if the high assumptions of 4.2bn barrels is applied to RENAV, the value per share increases to 1241p. "

It's like climbing the Sears tower (Chicago) on the outside !.

not often that i call it this correctly ...... if i did, i wouldn't be on this board ...... who said, "Wish you bloody weren't!"?

Not me, if this is anything like Cairn : we are in the foothills at the moment !.

whereas i bought the last 2k (i now hold 5k) really as a trading position, i shall almost certainly hold, if not indefinitely then at least for a good while.

it also occurs to me that HOIL are not that flush with cash and also hold a 50%(?) share in TLW's Uganda field (Kingfisher? - or is it Jubilee) ...... gues what; that must surely make them a prime t/o target

whereas i bought the last 2k (i now hold 5k) really as a trading position, i shall almost certainly hold, if not indefinitely then at least for a good while.

it also occurs to me that HOIL are not that flush with cash and also hold a 50%(?) share in TLW's Uganda field (Kingfisher? - or is it Jubilee) ...... guess what; that must surely make them a prime t/o target

Going nicely cyners going nicely.

There is still buying, no stopping this, in the short term could go above 600p !.