Heritage Oil Share Discussion Threads

[goofy1] 20/2/2014 09:24

Muscle, apparently he was a bit too honest and outspoken re corruption. You can be confident that a more suitable candidate will be appointed.

[muscletrade] 20/2/2014 08:42

CNBC reporting that Nigerian central bank governor has been suspended.

[brucie5] 19/2/2014 16:55

This has been doing well. The promised re-rating could start once it breaks resistance at 2.20?

[mattd1] 18/2/2014 14:05

I'd rather they actually delivered some jam today on OML 30 rather than making more promises for jam tomorrow.

[buffythebuffoon] 18/2/2014 07:43

Interesting times...

I always cringe when I hear someone use that phrase.

Partly because it sounds like it's been extracted from a Chinese proverb, and we've lost the context; partly because it's often used inappropriately, and partly because periods when the stock market has crashed are also 'interesting times'!

I think the opportunity has come a little too early for us.

Buffy

[craig t2] 17/2/2014 23:24

Really interesting article which states:-In addition to these insiders, other pre-qualified companies include Glencore E&P in conjunction with Nigeria's Yinka Folawiyo and Nestoil; and South Atlantic Petroleum owned by former defence minister Theophilus Danjuma in conjunction with Russian firms Vertex and Pamplona. Huhuonline.com learnt that for all his efforts keeping Jonathan's second term bid alive, PDP Chairman Bamanga Tukur will get an oil block through his son-in-law, Sheriff, who is married to Tukur's daughter born with his 4th wife, Mariam, an Ijaw like Jonathan. Sheriff is the son of Bola Shagaya, one of Nigeria's wealthiest women and a close friend and confidant of Jonathan's wife, Patience; who is involved in Bayelsa Oil Company, Britain's Heritage Oil partner in the brand new JV Petrobay Energy; through which Heritage is expected to win several Shell fields in the Niger Delta, including the oil-rich OML 29 in Bayelsa state.

[rjcdc] 17/2/2014 22:47

Yes, 220 is quite crucial...

Question is, if they are successful with oml 29 for eg, how do they fund it? Trying to raise 750m for half of the 45% is a big ask... Even if they can put $200m down. Maybe borrow against the production income...

Interesting times...

[chopsy] 17/2/2014 22:14

Still need to go over 220 for confirmed breakout from the 120-220 horizontal channel. Go HOIL go!

[rjcdc] 17/2/2014 20:36

OML 29 is the most coveted asset, producing a peak of 62,000 barrels per day (bpd) of oil and 40 scf/d of gas and holds reserves of 2.2 billion barrels of oil equivalent (boe), the report said.

The 45 percent stake in this block could earn $1.5 billion to $2 billion, the sources said.

So, very similar then to production levels at oml 30... And shoreline paid 800m for their 45% stake?

That's good business if you ask me....

[craig t2] 16/2/2014 15:22

Should have said wife.

[craig t2] 16/2/2014 14:36

Also the presidents with is involved with Petrobay! No brainer

[craig t2] 16/2/2014 14:14

Agree re Tony Buckingham. He got out of Kurdistan in time. He sold Uganda. Now he's producing. I'm pretty sure the JV with Bayelsa will have a lot of clout given that the main government official is a boss! No brainer. Must admit though I'd love to see Lekoil get a small percentage of any pie. They will then be a rocket to the moon with their huge ogo find.

[2hoggy] 16/2/2014 13:35

Tony is the man for doing deals in africa,as I have said before to catch a poacher you use a poacher.

[muscletrade] 16/2/2014 12:57

@Rjcdc, thanks for the link. Well put together article.Will be interesting to see what happens next. Glencore would be hard to beat in a bidding war if they really wanted OML 29 badly enough...much deeper pockets than HOIL, but as the article points out,it is not just all about the price.

[hectorp] 16/2/2014 12:51

Remarkable steady rally, much further to go.

[craig t2] 16/2/2014 12:46

I managed to get it. No need to paste.

[scrambled eggmann] 16/2/2014 12:38

The read across for the expected 45% of OML29 does make HOIL's acquisition appear a relative bargain as the gross output/reserves figures seem similar.

Let's wait and see what the actual bids are.

[craig t2] 16/2/2014 12:36

Could you paste the contents of the link. I've had trouble opening it. Ta

[rjcdc] 14/2/2014 17:00

V positive day... Glad it came back a bit, set up very nicely for next week... And some news.

Good weekend all... 220 round the corner.

[fangorn2] 14/2/2014 13:53

It will be if there's a decent Nigerian devaluation...

[gucci] 14/2/2014 13:10

is it strong enough to break out of 220p

[saucepan] 14/2/2014 13:06

Looks like a perfect technical re-test of 'big round number' 200p and now up and away?

[kazz] 14/2/2014 12:58

Looking that way :)