Heritage Oil Share Discussion Threads

[rjcdc] 29/3/2014 08:38

Morning...

I think we are saying the same thing scrambled... Yes, $2.85bb for the 45% as per oml 30... But I was saying HOil currently have 45% of that 45% (with share price having the rest) which would be valued at $1.285bn or $870m after shoreline power have exercised their option...

Which works out at £540m....

Happy to be proved wrong..... Whichever way, it's good for heritage and doesn't value the other assets in oml30 or around the world, and $250m cash, shares etc in the current MC.

[scrambled eggmann] 29/3/2014 02:45

RJCDC - If the bid is $2.85B then it is for only 45% of the license in the same way that Shoreline got 45% of OML30. So the read across would be over £1b for our current diluted 30% net interest.


RJCDC
28 Mar'14 - 23:36 - 4327 of 4327 0 0

HOil own 45% of that 45% muscle, so the read across would be about £800m today..

[rjcdc] 28/3/2014 23:36

HOil own 45% of that 45% muscle, so the read across would be about £800m today.. But when shoreline take up their option then HOil own 31% of that 45%, which would equate to approx £550m...

They are not disimilar licenses (30 is better) But the oml 30 license also covers other assets such as the pipeline... So the read across would be more...

Ultimately, oml 30 massively underpins the MC on its own excluding cash, revenue, shares, oml payments, Ugandan tax returns and all the other assets...

A market cap of £1.5 Bn would be a fairer reflection right now.

I thought the results of the licensing round were to be released on the 11 April..so not sure how this has been decided already, if it has...

[chopsy] 28/3/2014 17:55

No mention of HOIL there. Are we out of the running?
OTOH, HOIL and SEPLAT should make a good combo bid, will we sneak in at a bargain price in the face of strong but unsuitable competition?

[muscletrade] 28/3/2014 17:52

If this report is accurate would seem there is a bid of $2.85 bln for OML 29 (although it is not named it is mentioned as the biggest of Shell's blocks for sale , which is OML 29).

So, who wants to do the maths comparing the new "worth" of OML 30(purchase price $850m) when compared to latest reported market price for OML 29?

I would do it myself but I cannot remember exactly how the blocks compare.

for simplicity sake if we assumed they were the same size(which they are not) then the new worth of 45% of OML 30 would arguably also be around $2.85bln which is roughly £1.7 bln.

Compare to HOIL total market value of £645million at close of play today.(technically we still own 45% of OML 30)

Not comparing apples to apples of course but something to think about over the weekend.

[willy26] 28/3/2014 12:11

All oil stocks continuing to fall. Anyone know why?

[tongosti] 27/3/2014 09:48

rjdc - it's more come on 500p by end of this year. massive hidden value in HOIL

[rjcdc] 27/3/2014 07:42

Should give a little boost...

Until 2016...might even be longer for oml 2012-2017 perhaps....They should be swimming in cash at that point!

Come on 250.

[muscletrade] 27/3/2014 07:30

extract from Afren results re Tax.

"An income tax credit for the year of US$157 million (2012: income tax charge of US$380 million) includes changes arising from the award of a five-year tax exemption obtained by the company holding the Ebok asset. The tax credit includes reversal of prior year current tax and deferred tax provisions of US$381 million, following the receipt of confirmation that the tax exemption will apply from mid-2011 to mid-2016.

The effective tax rate for the Group's other producing assets remained consistent with 2012.

In addition, the Group pays other taxes, in the form of royalties, withholding taxes and non-recoverable VAT, locally in the areas in which it operates. In 2013, these amounted to US$419 million (2012: US$249 million)".

[muscletrade] 27/3/2014 07:21

Afren results out this morning. and noticed their comment that they have 5 year tax exemption for their Ebok field, which accounts for roughly two thirds Afren production as far as I can tell..

[rjcdc] 26/3/2014 19:41

Into the 240s.. Hopefully the uptrend is back on... all the way up to the finals...

[xxnjr1] 26/3/2014 11:45

Royal Dutch Shell PLC's (RDSA, RDSA.LN) Nigerian unit said Tuesday it has declared force majeure on the shipping of the Forcados oil blend from Nigeria after it shut an export pipeline due to a leak.

Precious Okolobo, a spokesman of the Shell Petroleum Development Co. of Nigeria, or SPDC, said in a statement that the force majeure took effect from 09.00 hours local time Tuesday, due to ongoing repairs on the pipeline at the Forcados Terminal in the western Nigeria Delta.

He said the subsea line was shut when a leak was discovered on March 4, leading to the suspension of SPDC and third-party crude oil exports through the terminal.

Mr. Okolobo didn't say how much oil may have been shut in as a result of the leak, but stressed that SPDC has "mobilized equipment and materials to the site, and is working to repair and reopen the line as soon as possible."

He said helicopter over-flights showed a slight sheen around the export line, adding that a joint investigation conducted by community representatives, SPDC, regulators and security agencies determined that the leak was caused by unknown persons who had installed a crude theft point in a water depth of about 8 meters.

Force majeure is declared when a company is unable to fulfill its contractual obligations to deliver crude or gas due to circumstances beyond its control.

[dukedosh] 24/3/2014 14:35

Yes my mistake. Post duly edited.

[chopsy] 24/3/2014 14:22

surely hoil was never aim, rather ftse smallcap?

[dukedosh] 24/3/2014 13:46

FTSE quarterly rebalance effective from March 24 means Heritage Oil (HOIL) joins the FTSE250 today.

[rolo7] 21/3/2014 23:58

Hoil goes into the fste 250 on monday the 2.5m buy is tracker funds of iis i expect similar to serv late big buy.

[tongosti] 21/3/2014 20:50

Thanks for the amazing insight pink!

[pinkalltheway] 21/3/2014 18:07

Yes someone bought 2.4m on the Uncrossing ... But remember someone sold 2.4m.. As well..!!

[tongosti] 21/3/2014 17:10

Someone bought 2.5 mln shares bought at the close today! That's what I call confidence in HOIL prospects. As I have mentioned before on this board, this company is a potential 10 bagger from current levels in the next 3-5 years. good weekend all

[dukedosh] 21/3/2014 09:32

Baraka Energy and Resources commences court action against Statoil and PetroFrontier

Friday, March 21, 2014

Baraka Energy and Resources (ASX: BKP) has commenced proceedings in the Supreme Court of Western Australia against Statoil and PetroFrontier to protect its interests in permits EP127 and EP128 in the Georgina Basin, Northern Territory.

The company is seeking to restrain action on the Default Notices and contest the validity of the 2014 Work Program and Budget.

The company said it is confident that it will succeed in preventing forfeiture of its interest in the permits pursuant to the Default Notices.

However, Baraka continues to work towards a negotiated solution.

The company has a 25% interest in EP127 and EP128. Statoil has a 60% interest while PetroFrontier holds 15%.

[rjcdc] 21/3/2014 07:29

Hopefully back into the 2.40s today...

[dukedosh] 21/3/2014 00:19

150,000 shares were bought near the end of the session which sharply pushed up the price.