required field
- 04 Apr 2008 22:45
Another newcomer to the main market...anybody any idea what the production figures are ?
gibby
- 27 Jan 2011 17:55
- 321 of 593
cynic - you would think so wouldnt you - strangely enough he did not mention
Balerboy
- 27 Jan 2011 18:11
- 322 of 593
Gibby ask cynic what he does with all his gas............he might have the answer.,.
cynic
- 27 Jan 2011 18:35
- 323 of 593
i was and remain an old fart, so now you know
gibby
- 27 Jan 2011 20:33
- 324 of 593
lol balerboy & cynic - have a good evening chaps
irlee57
- 15 Feb 2011 14:30
- 325 of 593
your opinions would be much appreciated on this share.
HARRYCAT
- 15 Feb 2011 14:47
- 326 of 593
.
irlee57
- 15 Feb 2011 14:54
- 327 of 593
the chart says it all, but even with the gas find rns it suddenly has'nt become a bad company overnight.
cynic
- 15 Feb 2011 15:05
- 328 of 593
that was also my thought, but the market seems to believe otherwise
i've posted the 5 year chart below, and for what it's worth, one would surely think that a bounce is seriously o'due - but are we/you brave enough?
irlee57
- 15 Feb 2011 15:15
- 329 of 593
that is the $64000 question.
hlyeo98
- 15 Feb 2011 15:16
- 330 of 593
It takes a brave man to catch a falling knife.
In fact, I'm tempted to short it looking at the graph.
irlee57
- 15 Feb 2011 15:18
- 331 of 593
there is a minor bounce on at the moment.
cynic
- 15 Feb 2011 15:18
- 332 of 593
it's suddenly recovering very fast so shorting might prove much more dangerous than the knife trick
irlee57
- 15 Feb 2011 15:29
- 333 of 593
bought in at 3.42 then again at 2.93.
what to do?
cynic
- 15 Feb 2011 15:34
- 334 of 593
293 can't be all wrong i think .... assuming equal quantities then b/e = 3.18 which isn't to terrifying ..... once it recovers to that, it becomes very much your choice as to what to do
irlee57
- 15 Feb 2011 15:52
- 335 of 593
thanks
HARRYCAT
- 15 Feb 2011 16:26
- 336 of 593
I thought it was all down them spending shed loads of money in Kurdistan on the basis of finding oil, but recently admitting they have only found gas?
cynic
- 15 Feb 2011 16:30
- 337 of 593
can't remember exactly where this gas find is, but apparently it is seriously HUGE, though yes indeed they (and the punters) were hoping for oil .... checking back, it seems that most of the brokers subsequently downgraded the stock, but i wonder if they're entirely right in this instance
irlee57
- 15 Feb 2011 20:31
- 338 of 593
there is a rumour says, the guardian newspaper off a 450p bid from whoever.
this might have caused the spike.
hlyeo98
- 21 Feb 2011 22:26
- 339 of 593
The rumour has been squashed today.
goldfinger
- 07 Mar 2011 13:40
- 340 of 593
::Comment
Buy Heritage at 295p
Says Lucien Miers, the Bard of the Boleyn
The markets preference for oil over gas was demonstrated forcefully the other day at Heritage Oil (HOIL 295p) The stock was trading around 460p awaiting drilling results at its Miran prospect in Kurdistan Iraq. On 26th Jan the company announced that it had made a major gas discovery, equivalent to 744mn barrels of Oil (6.8 to 9.1 trillion cubic feet) After a knee jerk rise on this news the market spanked the stock and it has fallen steadily since then to a recent low of 280p.
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.
I think the fall is overdone as I am told that on the basis of what majors have paid recently for similar assets a gas find of this size could be worth $3bn. Even after the cost of the pipline and allowing for the five year wait till production you could be talking a value for the gas alone at around 320p per share.
Given that HOIL has 135p in cash following the sale of its Ugandan assets to Tullow Oil, (in a deal which demonstrated its expertise at finding value in exotic places) and that it also has other projects in Africa, Pakistan and Malta as well as a small producing asset in Russia (an average rate of 580 barrels a day: small but must it pay a few bills) it can be argued that the falls have been overdone even taking into account the discount currently being accorded to anything with a middle eastern bias.
I am sure that Heritage would rather be involved in oil rather than gas but I feel confident it will extract maximum value for this significant discovery, and feel that at 295p the fall has been overdone. I have bought around these levels with a target of 400p plus in the next 12 months.
Posted by ShareCrazy on Feb 18, 05:42 PM in Comment