Global Leader in International Oil and Gas Industry News

posted in:

  • Home>
  • Oil & Gas News
  • >
  • Europe,
  • >
  • Heritage Oil completes the disposal of the remaining interest in the Miran Block, Kurdistan

Heritage Oil completes the disposal of the remaining interest in the Miran Block, Kurdistan

Wednesday, Jan 23, 2013

Heritage Oil Plc ("Heritage" or the "Company") (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, today announces that it has completed the previously announced disposal of the remaining 49% interest in the Miran Block in the Kurdistan Region of Iraq ("Kurdistan").

On 12 November 2012, Heritage issued the Exchange Repayment Notice signifying the intention to repay the $294 million loan made by Genel Energy plc to Heritage in August 2012 through the transfer of Heritage's remaining 49% participating interest. Completion of the sale was subject to the approval of Heritage's shareholders, which was received overwhelmingly at the Extraordinary General Meeting on 12 December 2012. Completion was also subject to other customary closing conditions including relevant approvals being granted by the Regional Council for the Oil and Gas Affairs of Kurdistan, which have been received.

Following completion and receipt of formal approval of the transfer by the Regional Council, Heritage no longer has an interest in Kurdistan.

Source: Marketwire

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

  • Home>
  • Oil & Gas News
  • >
  • Europe,
  • >
  • Heritage Oil completes the disposal of the remaining interest in the Miran Block, Kurdistan

Other Oil & Gas News

APPEA: Time to lift barriers on New South Wales natural gas development 24-04-2014
BP to sell interest in four Alaska North Slope oil and gas assets 24-04-2014
Irving Oil completes voluntary conversion of its crude oil railcar fleet 24-04-2014
Platts adds bakken price assessment in the Williston Basin to its shale offerings 24-04-2014
Wood Group GTS awarded $12M operations & maintenance contract by Apex Bethel Energy Center 24-04-2014
More than 20 new technologies on display at $100,000 shale gas energy innovation contest finals 24-04-2014
Octagon 88 Resources announces plans to spud first horizontal proudction well on Bluesky formation 24-04-2014
Drilling of second and third Eagle Ford wells underway in Texas 24-04-2014
SC 63 - Baragatan -1 well update 24-04-2014
Gas supply for Austria announces OMV and Gazprom strengthen partnership 24-04-2014