Buckingham's delight over Turkish deal

HERITAGE OIL is understood to be in talks with Genel Enerji, the Turkish oil company controlled by Turkey&rsquo;s richest man, Mehmet Emin Karamehmet.<br /><br />A deal with the millionaire, which follows frenzied talks over who would take over the FTSE 250 company, could see Karamehmet become a major shareholder, turning Heritage into a major player in Iraqi Kurdistan.<br /><br />A takeover would mark a new beginning for the company, which is run by controversial figure Tony Buckingham.<br /><br />Buckingham is in talks with Karamehmet about an all-share merger.<br /><br />Cukurova Group, the company which deals in media, cars and shipping, owns Genel.<br /><br />An announcement is expected later this week.<br /><br />Buckingham had links to mercenary organisations, including Executive Outcomes. Such companies call themselves private military contractors (PMCs).<br /><br />He says he has not been involved in military or security work since the late 1990&rsquo;s, and is focused on Heritage.