Heritage Oil Share Discussion Threads

[bountyhunter] 30/4/2014 13:46

Header updated with the bid details for future reference.

[sm001] 30/4/2014 13:43

I've held on for years - unfortunately with an average above 320.. It has been my worst buy ever!! However, many many times in the past tb hasn't stuck to his word, so I wouldn't expect to keep his word now either.. Extremely bewildering as to why he would accept an offer whilst refusing any counter bid for 4 months?.. What is he anticipating here..

[eipgam] 30/4/2014 13:20

not much expectation in the FT for a counter bid

[eipgam] 30/4/2014 12:46

Think I will wait for the dust to settle for a day or so.... there's a story here for the financial papers, so I will see what they come up with and what they predict... it will be interesting to read if they can see another bid, or what the major shareholders opine.

There is nothing to lose by waiting a day or two, as the 313 currently on offer in the market is likely to go up slightly as the days go by. Although I must admit that it doesn't look as if the market is expecting a counterbid.

[fangorn2] 30/4/2014 12:43

Wasnt there going to be a Analyst meet at 12.30 which was to be a live webcast. Or did I imagine that. Cant see the link on the homepage of Hoil

[spacetomato] 30/4/2014 12:08

We should start a rebellion here.... a revolt against coup d'état as they seem to have orchestrated.

[spacetomato] 30/4/2014 12:05

Well...TB was a mercenary they say, right? Wrong, he still seems to be! He seems to work for the Arab Sheik now. Disgusting it is, but it will teach me to listen to my instincts and common sense. Anyway, I shall wait for a while to see how it goes. This is not a done deal, as the company is "managed" by these guys and not owned 100% by them. There are shareholders here and at least they can have a say and change the course of this boat, or at least be courted by other companies till September. For the time being the Arabs will be scooping as much shares as they can till then so they can have 50% plus 1 and hence the majority vote. Hopefully not!St

[holts] 30/4/2014 12:04

what happens with the shares bought on buyback if they are still in treasury , do they have any voting rights ?

[flyingbull] 30/4/2014 12:01

Too late for HOIL I guess but the monthly oil stock ">20%" challenge is still on! Deadline for entries is midnight tonight! Good luck!!! fb

[muscletrade] 30/4/2014 11:35

@tongosti, agree yr view that there is still large hidden value here(notwithstanding the short term probs with Forcados terminal). TNAV is about 360 I believe. Why else would Mr Bucks still hold on to 20%?

Maybe the low price is intended as being used as a stalking horse...stranger things have happened.

[tongosti] 30/4/2014 11:19

Still think there is a large hidden value in HOIL so 320p comes as a dissapointment. However, if TB is happy to get paid that for a part of his holding, we don't have much of a choice though, do we? Still, have made 110% on my original investment which is definitely not to be sniffed at. Time to move on and look for other deep value opportunities!

[corrientes] 30/4/2014 10:36

To say in an RNS that the future of HOIL is looking good, dividends etc, when you know the company is being taken over for a song, is nothing short of disgusting.

[scrambled eggmann] 30/4/2014 10:31

muscletrade - I accept the inevitable as it is likely to happen, and I think the price will move close to the offer of 320 pence in a few days. I think there is an outside chance of 350 pence so will wait.

However all the management statements, presentations, divis etc about long term growth are now meaningless.

[2hoggy] 30/4/2014 10:21

As a long term holder I am gutted,my average above 320 I did say that I had a suspicion he might take the co private,which is happened.

He still has a ongoing interest which we will not benefit from,this co was worth in the near future at least 4.00 to 4.50 a share.

I hope the money bloody sticks in his throat.

[tom111] 30/4/2014 10:05

Well I had a punt anyway,cant really lose here I guess

[scrambled eggmann] 30/4/2014 09:58

Buyers at 312 pence are as good as guaranteed a 2.5% return in a short time!

Almost like a divi for them as there is almost no uncertainlty that the takeover will complete.

I bet the share price is 319 pence in a few days!

[eipgam] 30/4/2014 09:57

It's the bidco or agents buying at 312 instead of 320

[tom111] 30/4/2014 09:55

Silly question but why are their a lot of buyers at 312p

[mattd1] 30/4/2014 09:47

The Employee Benefit Trust will, I expect, also vote this in - being "in the best interests of the beneficiaries" (perhaps after someone requests the trustee votes that way if required at EGM or SGM or whatever). So, 34% plus a few million more votes from the ESOT will probably make it unassailable.

And, if TB sells out, he pretty much IS the company, so without him it may not be as successful anyway ...

Gutted, but £3.20 better than kick in teeth.

[muscletrade] 30/4/2014 09:46

@scrambled/spacetomatoe.....share your frustration and for the record I am still holding, no rush.
The counterfactual is that the results were just ok and already expected, but the reduction to 2014 production was probably not and I think we could have taken a bit of a battering this morning especially as there would seem to be little progress in getting the Shell terminal up and running again.(again, how long does it take to fix a pipe 8 m below the waterline.....Macondo was a little deeper as I recall)

This has sort of sell out happened to me before. I was an early and long term holder of Cafe Nero, which turned out be by best investment ever, but was taken private by the CEO/Chairman at far too low a price. It was hard to be too critical considering my gains but I would have been far better off if it had remained a public company...look at Whitbread(costa) today. Am i bitter...yes.

Come on Ophir take a look.

[dukedosh] 30/4/2014 09:45

Just read into this take over a bit more. This is a done deal and our Tony is in concert with Al Mirqab and will continue to work with them for 5 years. Furthermore, Tony has agreed not to accept any competing offer. One can only imagine the rewards Tony will receive for his loyalty to the the new regime.

Good luck to him but I can see why the longer term holders feel a tad betrayed here. However, there's nothing that can be done. I'm out and time to move on.

[scrambled eggmann] 30/4/2014 09:45

Branhco - it only means that Buckingham's 34% cannot vote. The other 66% can vote and if an offer comes in at 350 pence who do you think the 66% will vote for?

Certainly the higher bid.

[blueflex2] 30/4/2014 09:43

would Shoreline make an offer also? Considering they already partnered with Hoil, working on OML30

[rjcdc] 30/4/2014 09:42

The only way it can't happen is for shareholders to vote it out, but as 40% are already in support! and we don't know how many the buying party already own! it's massively unlikely.

I don't think that statement above could be any stronger.

We've been done.