Heritage bounces amid Genel Enerji takeover rumours
By Bryce Elder and Neil Hume
Published: July 15 2009 03:00 | Last updated: July 15 2009 03:00
Oil stocks provided the foundation yesterday for the London market to rally for a second day.
Heritage Oil was among the beneficiaries, with the Iraqi explorer bouncing from a two-month low. Since revealing plans to buy Turkish peer Genel Enerji, Heritage had dropped 27 per cent.
Takeover speculation helped yesterday’s rebound, with Royal Dutch Shell rumoured to be interested in gatecrashing the merger.
Traders saw the logic in such a move. Not only would a bid for Heritage boost Shell’s reserves, it would help it recover some ground against BP, whose consortium last month won the rights to develop Iraq’s biggest oilfield.
Heritage’s non-binding memorandum with Genel was not seen as a big hurdle for any potential acquirers. The politics of such a move, however, were more difficult to predict.
Heritage closed the day up 11.4 per cent to 482p, even after company representatives downplayed the rumour.
Other energy stocks tracked the oil price, which recovered from an eight-week low following comments from US and UK officials that economic growth would be likely to resume this year. Shell B shares rose 0.2 per cent to £14.66, BP was 0.5 per cent firmer at 473.8p and Cairn Energy took on 4.9 per cent to £21.15¼.
Tullow Oil was up 2.7 per cent to 891p even after Goodbody Stockbrokers judged recent takeover speculation to be “hot air”.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
