Heritage Oil Share Chat (HOIL)

Heritage Oil, an independent upstream exploration and production company, has enlarged its stake in PetroFrontier with the purchase of 1.8m common shares.

The shares, which were purchased for CDN$166,320, are equal to 2.27% of the outstanding shares and will take the group's stake to 17.58%.

The company also holds 2.3m warrants of PetroFrontier, which are convertible to 2.3m shares on exercise. If exercised Heritage will own about 19.91% of the outstanding shares of PetroFrontier.

06 December 2012

Heritage Oil Plc

("Heritage" or the "Company")

HERITAGE OIL ANNOUNCES ACQUISITION OF COMMON SHARES OF PETROFRONTIER CORP.

Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company, today announces that the Company acquired 1,800,000 common shares ("Shares") of PetroFrontier Corp. ("PetroFrontier") representing 2.27% of the outstanding Shares. Together with Shares already held by Heritage, the Company now holds 13,960,467 Shares, representing approximately 17.58% of the outstanding Shares of PetroFrontier. Heritage also holds 2,311,767 warrants of PetroFrontier ("Warrants") which are convertible into 2,311,767 Shares upon due exercise thereof. If these Warrants were duly exercised, Heritage would hold approximately 19.91% of the outstanding Shares of PetroFrontier.

The Shares were acquired through the facilities of the TSX Venture Exchange for an aggregate price equal to CDN$166,320. Heritage may increase or decrease its ownership of securities of PetroFrontier depending upon future market conditions.

All Shares acquired and/or held by Heritage in PetroFrontier were acquired for investment purposes.

Heritage Oil Plc

Fourth Floor, Windward House

La Route de la Liberation

JE2 3BQ

Jersey

Channel Islands

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£200 now that would be nice! £2.00 should've been.

Hi all, can any one give a bit of a synopsis as to where HOIL is at the moment, tax position, drilling, the large gas find that destroyed the SP the other year? I used to watch this quite closely but have put it away for a while as my SP buy in was far from here and therefore waiting better days. I saw it rise over £200 a while back but here we are again going down. Would really appreciate an overview from someone.

Thanks to all who reply and GL

thanks for that. I am somewhat puzzled as why it is taking so long to come to a decision as where the tax is to heard.

Not a lot of movement really:

http://screencast.com/t/6pkUqKB5p

In fact the whole thing is a bit of a bore atm eh?

Do you know the latest regarding the number of shares out on loan?

Good morning

Yes indeed these are my two Oil Stocks, thanks for link

Morning.

I see you are in NEW as well. Thought we may have had an RNS first thing there......heyho....it will come when it comes I guess.

Broker note link:

http://dcms.canaccordgenuity.com/ResearchNotes/d84cd2bc9bdf42f3b087bf26cefeb396.pdf

It doesn't appear to be being excessively shorted with only 8.2m (2.87%) of stock out on loan.....but it does feel like it when you see the sp drift down as it is....

http://screencast.com/t/Hlpm127z4