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HERITAGE PETROLEUM – Richard Price an investor with 5.1% Shareholding in the company

I took note of Heritage Petroleum 2.5 years ago when the price was very low compared to the hidden value and potential that I could see in this little company on Ofex. I began buying shares every time there were sellers and the price dipped and continued buying almost up to the present. My holding is now 2,105,000 Shares which I am holding for the full potential of this little company to be developed by the Directors.
It seems strange to me that the market didn’t realize the potential of Heritage Petroleum and is only just now beginning to wake up. I have been fortunate in that I also follow the Australian Stock Market and have kept an eye on Kimberley Oil, now European Gas, which entered into a joint venture with Heritage for 75% of the company. European Gas certainly woke up quickly to the potential.
When I invest I look for hidden value in a company and a low share price in comparison to this. Heritage Petroleum fitted the bill perfectly.
I also look for Directors interests in the company and Heritage Petroleum Directors again fitted the bill by owning over 26% of the company. This shows commitment on their behalf and a real interest in creating shareholder value and a belief in the potential of the company.
The hidden value that I first saw were the permits being applied for, and now granted, in both France and Italy.
There is also a further 4,268 km under application. Each area granted and being applied for is highly prospective for CBM.
Heritage Petroleum has been having a free ride and is still doing so because of the fact that Kimberley Oil, now European Gas, is in joint venture and earning 75%.
I have waited patiently watching the Australian Stock Exchange, having realized the potential, push European Gas’s Share Price up to a valuation far in excess of Heritage’s. Thankfully the Ofex Market has begun to wake up and Heritage’s Share Price is beginning to move.
I realize that I have been very lucky in observing and finding a company with huge potential. My patience will pay off and the Directors of Heritage too. When Directors of a company take very small salaries ,and in company stock too rather than squeeze a small company, I am impressed.
I am invested in many companies but of all of them Heritage Petroleum is a little company with a bright future, especially with the problems facing both Europe and the U.K. of finding secure gas supplies. I have waited patiently so far and am prepared like its Directors to wait further for its future development.

Richard Price
Shareholder in Heritage Petroleum