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

Today's FT


"Heritage Oil gained 2.4 per cent to 512p following this week's oil find in Iraq, which has reheated speculation that Heritage could be a target for a Chinese resources group."

Topped up myself as well......probably now will just tuck them away and monitor them for some time now....must good for more than 600 to 650p this one perhaps even more in a few months time.

They were talking of 10 plus in all the papers wednesday RF.

You might be a little conservative their.

Fingers crossed anyway.

"Announcement Dr Ashti Hawrami
Minister for Natural Resources
Kurdistan Regional Government

8 May 2009

On behalf of the Kurdistan Regional Government (KRG), the KRG Ministry of Natural Resources announces that crude oil exports shall commence officially on 1 June 2009 from the Tawke Field, at an initial rate of around 60,000 barrels per day. This follows the completion of all the metering instrumentation and the tie-in of the field pipeline with the Iraq-Turkey main export pipeline at the border town of Fishkhabur."


http://www.krg.org/articles/detail.asp?rnr=223&lngnr=12&smap=02010100&anr=29333

Should stimulate a bit of interest in Kurdistan Oilers.

Just bought a few to see how it goes over the next 6 months or so. should be interesting !

Here's something to cheer cynic up...

Outstanding successes for Heritage Oil
Business Financial Newswire
Oil explorer and producer Heritage has performed exceptionally since the start of the year with outstanding successes in Uganda and the Kurdistan region of Iraq.

It said it had a 100% drilling success rate with substantial oil volumes discovered in the Albert Basin, Uganda, sufficient to exceed the commercial threshold for development.

It also discovered the world-class Buffalo-Giraffe field in Block 1, Uganda and the Miran field in the Kurdistan region of Iraq.

Chief executive Tony Buckingham said: "Our success reflects both our technical and managerial expertise in selecting high impact exploration opportunities, which can enhance the company, and our demonstrated first mover advantage.

"The remainder of 2009 should continue to be very exciting with drilling programmes scheduled in both these core areas which have further potential to generate excellent value for Heritage shareholders."

Money in the bank. :))

there are some very strange things happening here today ...... sp is all over the shop and has been as high as about 590.

there have certainly been rumours of a t/o floating around for some time, but current volumes show nothing dramatic and there is no announcement anywhere ..... however, if there is a large order only partially filled, it will not show.

It looks like the seismograph records of this government's unpopularity !.

clench your buttocks chaps and chapesses!! .....

TEMPORARY SUSPENSION
Heritage Oil Limited
The Financial Services Authority ("the FSA") temporarily suspends the securities
set out below from the Official List effective from 3/06/2009 1:45pm at the
request of the company pending an announcement:

Well, well, well as they like to say in the oil industry !.

sold out this morning with a profit following the sudden rise but it may have been premature [or poss a good thing depending upon the news]

Oh dear, trading is suspended on reverse takeover talks. Anyone know what this means if the takeover happens or not? I am sitting on a nice paper profit on these.

Camel .... you cannot possibly know if it is a t/o of HOIL, a reverse t/o or even something totally different

I hope it's not suspension of activities by the Kurdish local government because of Bagdad......heavens help those with heavy long positions !, if that's the case....

Could be Tullow oil....see latest RNS...!

i take it you mean the one from 2nd June .... anyway, if TLW was the target that share would also be suspended, or more to the point, would have rocketed away ..... if the predator, i suspect they too would have had to put out an announcement

cynic, I can possibly know :)
It says so in the press release:
"Heritage Oil Limited ('Heritage' or the 'Company') notes the recent movement in the Company's share price. The Company confirms that it is in preliminary discussions with a third party regarding a possible merger which would be treated as a reverse takeover..."

new rns then .... well done

i guess happens what next to sp relates to the perceived or potential or actual terms of any t/o, reverse or otherwise.

of course what would be jolly would be to discover that you held shares in both parties

some more news via Reuters .....

Heritage did not name the third party but said any deal would be classed as a reverse takeover, which analysts said suggested a private company or a one seeking a London listing.

Credit Suisse analysts said in May that Heritage would be a logical purchase for one of the Chinese state oil companies which in recent years have been snapping up energy assets across the globe to fuel China's economy.

==========

on the basis of what ONGC paid for IEC, i hope it is not just wishful thinking that the ultimate price will be at a considerable premium to today's 580 ....... all will be revealed in due course

7 or even 8 a share minimum I would like to think, possibly much more !.