// Forum | Iraqi Oil Phase 1 company - any ideas from this info?
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Home Forum Request a Review Iraqi Oil Phase 1 company – any ideas from this info?

Iraqi Oil Phase 1 company – any ideas from this info?

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8:20 am
December 14, 2009


jttz2002

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Badiali recommended another company like Addax in our exclusive service Phase 1 (it's simply too small to recommend in the Resource Report). This junior miner has a market cap of less than $1 billion. And it has more cash than its total market cap. The company also owns a 75% stake in a multibillion-barrel Iraqi oil field. From these numbers alone, the company could quadruple from here. The story gets better…

The company recently announced the sale of some noncore oil properties for $1.5 billion – almost twice its market cap. It's expected to use that money to pay a huge special dividend (probably around 15%) and fund its Iraqi oil operations.

2:12 pm
December 14, 2009


at_the_track

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Post edited 2:14 pm – December 14, 2009 by at_the_track

i can't attest to their financials, but it's almost certainly Heritage Oil Company.  on the toronto exchange.  the symbol is HOC.TO.  Run a 5 year chart.  Interesting company.  Run by a guy who made money providing mercenaries in Africa to companies and governments that protected their mines.  In exchange for cash, took interests in the mines.  Now he's got an oil company.  If I recall, one of his partners is from a royal family in Iraq, and has substantial interest in the north part of Iraq.  Which is where I presume their oil interests are.  Pull up a 5 year chart.  It's been a wild ride.  I was thinking about getting back into it the other day myself.  If you find out any further info, please let me know.

11:27 pm
December 14, 2009


Larry

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The huge natural gas location is in the mountains of China not Iraq. So, it can not be Heritage Oil like you suggest. I think Badaili is located in Florida. The flight will take him 27hours and 5 different planes to get there.

8:06 am
December 15, 2009


at_the_track

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you must be replying to the wrong post.  Who said anything about natural gas?  bidali? China?  Heritage's oil holdings in Iraq are in Kurdistan. 

6:27 pm
December 15, 2009


Silverman

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I think the comp is on the Venture exchange by the name of WESTERN ZAGROS, stock has cleaned out now in the last 4 days & is up .20 & traded 3 m+ today ! check it out symbol
WZR

11:43 am
December 16, 2009


jttz2002

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I think Heritage oil matches most of the comments (75% stake, 1.5 Bln deal, etc.) after reading information on their website.
Thanks for the inputs and suggestions.
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