HERITAGE OIL – MARKETS VERDICT ON THE OML 30 DEAL TO BE DELIVERED THIS MORNING – SHARES RESTORED TO TRADING

And so, we get the first opportunity to see whether T Buckingham’s bullish view of the Shell OML30 Nigerian fields is shared by “Mr Market” as the shares are restored to the Official List.

Let’s see if they Grey market indiciation prices of 170 – 190p were correct.

Take your places…

Interesting snippet in today’s Guardian that could explain the Convertible issue (so reducing the need for TB to stump up cash and maintain his stake) – 

Tony Buckingham, who heads Heritage Oil, is considering cutting his 33% stake in the FTSE 250 oil explorer. The plan has emerged as the company launched a $370 million (£238 million) rights issue to help fund its move into Nigeria, meaning that Buckingham would have to find $122 million to maintain his stake.