Member Info for jaskk

Wait for the news to hit outside the markets if you want to gamble this, another fall tomorrow and possibly next day before dead cat bounce.

There's going to be a lot of margin calls soon and anyone holding cash in these companies should be careful as I m not sure its covered if they go bust on the back of this as this could quite easily snowball.

There is an article in Bloomberg just released, explaining why this type of trading has been banned in the US amongst other countries. It is only a matter of time before it happens here and in Europe. This is the opening salvo.

I understand and accept your point, but owning shares with borrowed money along with stop losses etc are VERY easily manipulated and the problem is that it can and sometimes causes huge problems to the companies caught in the cross fire, especially when it comes to raising finance, which can effect the real economy and jobs. That not to say that IG are solely to blame, but more the financial system itself which needs much tighter regulation against abuse. I would like to see a ban on leverage full stop and for those companies/pension funds lending shares for shorting to declare this as often it is done without permission from the actual people that own the share ie pensioners/private investors. My suspicion has always been that nominee accounts are also involved.

100% agree. Stock markets should be for long term investing and these companies along with their counterparts in the banks create huge mistrust. Now we need to get rid of nominee accounts.

Not good and stinks of a mechanism to allow Tony Pidgeley to cash out now that he is nearing retirement. This is near to if not the peak of market and he knows it and it would cause panic if he sold, but with a buy back he can manipulate the price he gets. I might be wrong.

Bovis are a really good company operating in the south east away from the bubble that is London. Someone wanted to hit stop losses and accumulate. This is a safer investment than Barratt, which in effect went bust, which along with a few other company's says a lot about there management failures. This is now in bargain territory.

Its the traders buying the rumour selling the news brigade.

Good solid diversified company well placed to take advantage of a strong dollar and a Chinese economy transitioning to a consumer based one, with a pipeline of new drugs and a good dividend. I always get suspicious when people publicly slam or ramp a company's shares. If you don't like what the company is trying to achieve or believe in the management then sell up, but why moan publicly unless of course you have a reason to do so.

My opinion is that the ftse is due a correction and therefore the income fund will react accordingly. The patient trust is in effect a cash shell at the moment and therefore will be very well placed if this happens as it will be able to pick up some companies at a better price.

Strength of the dollar is causing a massive deflationary effect. With problems in China, Russia, Europe, Middle East and Africa, things don't look good. This could be the long overdue reality check markets are about to get. Better right now to be in cash or gold which is holding up quite well.

Now at a similar price to after Lehman collapse when the capitalist system was going under. Yes it has its problems but at this price its now worth a punt.

I could be wrong but there is a lot of talk about a counter bid coming forward. An awful lot of shares have traded hands near to the offer price which seems odd if it was a done deal. Maybe I'm getting ahead of myself but although the book is closed there is another company that is currently raising money and has an extensive knowledge of Heritages assets and that is Genel who provided the original loan. Who knows , they certainly would have the money and if a share swap, it would be a good fit for both companies, diversifying producing assets.

Just a quick not to say thanks for the link. I guess that although a rising oil price due to uncertainty is therefore bad for the share price, if Heritage lock in that price and the situation in the Ukraine eases, it should in theory increase profits.

Stuigee, thanks for the reply. I assumed a high oil price would be more profitable for the companies unaffected. After all, even with the uncertainty in the Ukraine, Heritage are not going to stop pumping / selling oil and people are not going to suddenly stop filling up their cars to go to work, yes it might be more expensive, but frankly most people have little choice. I could understand airlines or company's that need to use oil would suffer as margins would be squeezed, but whether this would lead to another recession is open to debate.

Can someone explain to me how the price of oil rises and yet oil producer shares fall !!!

Noticed UBS reduced their target price by 25p recently, so whilst your calculations might be correct, they may well have factored in a longer delay to be on the safe side. Certainly good news that's it working again, there seems to be a lot happening in Nigeria at the moment, which is positive.

From reuters africa link:- http://af.reuters.com/article/angolaNews/idAFL5N0MO1U220140327 It appears there will be little if no exports for some time. You will need to copy and paste above link for information.

Big bang, from reading the article it says another attack has been made last night, to stop the repair work. As Shell have now declared force majeure do you know if Heritage have been paid since the original attack ? My worry is that this will push any dividend out should this be the case and provides uncertainty.

I have traded this shares for a number of years, but I think the market now is finally waking up to the fact that they are fundamentally undervalued. Just as proof of this there was an update in investors chronicle which now has the net asset value of the company at 16.5p per share excluding no doubt maoming and it seems the price is purely based on the share holding in china gas. I have copied and pasted the article below:- Fortune favours the brave Fortune Oil (FTO) announced a special dividend of 2.36p a share at the half-year stage, as total revenues (including jointly controlled entities) moved up by 10 per cent, but the market is still ascribing no value to Fortune's ongoing business. In fact, Fortune' current market value of £175m and net debt of £69.3m is more than covered by the $400m (£258m) cash and share consideration that Fortune is set to receive for its gas business from China Gas Holdings (CGH), which was announced last December. Final regulatory approval has now been received and completion is expected in the current quarter. Fortune will issue around 600m shares to indirectly fund a $12m working capital loan, and the $60m purchase of the residual 15 per cent stake in its gas business that was held by Wilmar International. Excluding gains on disposals, Fortune's operating profits were down by 10 per cent to £12.8m, partly due to aviation fuel price movements that resulted in an inventory loss at its Bluesky aviation refuelling business. On an operational basis, Bluesky actually performed creditably, registering an 11 per cent increase in sales volumes to 1.6m tonnes; Fortune's West Zhuhai Products Terminal increased volumes by a fifth to 1.4m tonnes, and the natural gas supply business added a further 32,497 new customers, taking the total to 312,500, while sales volumes rose by a fifth to 287m cubic metres. FORTUNE OIL (FTO) ORD PRICE: 8.81p MARKET VALUE: £175m TOUCH: 8.51p-8.9p 12-MONTH HIGH: 13.5p LOW: 7.13p DIVIDEND YIELD*: 1.8% PE RATIO: 63 NET ASSET VALUE: 16.5p NET DEBT: 21%