Heritage Oil Ltd. - 500 Beiträge pro Seite

[KaOzz]

Heritage Oil Ltd.

Neuer Thread wegen der Umstrukturierung und des Splits

Link zur Homepage

http://www.heritageoilltd.com/index.cfm

[KaOzz]

Heritage Oil Spuds Kingfisher-2 Exploration Well In Uganda


/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, April 29 /CNW/ - Heritage Oil Limited, an independent upstream
exploration and production company, announces that it has commenced drilling
the Kingfisher-2 appraisal and exploration well in Block 3A, Uganda. This
deviated well is being drilled from the lakeshore and is targeting multiple
pay zones in the Kingfisher discovery located beneath Lake Albert. The well is
being drilled to an anticipated depth of approximately 4,100 metres and is
expected to take between 90 and 120 days to reach target depth. Heritage's
operations in Uganda date back to 1997, at which date no other company had
reportedly explored in the Albert Basin since the 1930s. Heritage is the
Operator of Blocks 3A and 1 in Uganda.
The Kingfisher-2 well will appraise reservoir zones discovered by the
Kingfisher-1 well, which was completed in 2007. Four intervals were tested
successfully, resulting in an overall cumulative flow rate of approximately
13,900 bopd. The discovered oil is good quality, light (between 30 and
32 degrees API) and sweet with a low gas-oil ratio and some associated wax.
These productive zones were secondary objectives, since the primary, deeper
target was not reached for reasons related to rig performance. The
Kingfisher-2 well is being drilled using the more capable Nabors 221 rig, and
in addition to appraising the previous discoveries will explore the original,
deeper primary objective.
A 325 sq km 3D seismic survey was carried out over the Kingfisher and
neighbouring Pelican structures during the summer of 2007. Initial
interpretation confirms that the Kingfisher structure has an aerial extent of
approximately 45 sq km.
The Kingfisher-2 well site is located approximately one kilometre north
east of the Kingfisher-1 well site. Kingfisher-2 will appraise the contingent
resources previously discovered in the secondary zones in Kingfisher-1, which
have been independently certified by RPS Energy as having a most likely gross
volume of 118 million barrels of oil. The primary target has the potential to
be much larger. The RPS Energy high case estimate (P10) of gross unrisked
prospective resources for the primary objective is 698 million barrels of oil.
Tony Buckingham, CEO, stated:
"We consider the Kingfisher-2 well in Block 3A and proposed Block 1
drilling programmes in Uganda as significant events in Heritage's 2008 work
programme. There are plans for further drilling in 2009 targeting the Pelican
prospect and other structures in Block 3A, with a rig capable of drilling on
Lake Albert. The Pelican prospect is covered by the Kingfisher 3D seismic
survey and the other structures have been identified on the new in-fill 2D
seismic survey, that were both acquired in 2007. We look forward to successful
results from Kingfisher-2."
Heritage plans to drill a number of other wells in Uganda this year. A
one to two well programme is planned on the Kingfisher structure in Block 3A,
and a two to three well programme is planned in Block 1 to the north. The
Block 1 programme is expected to commence this summer and will target a number
of relatively shallow structures characterised by amplitude anomalies on
seismic data. Oil is known to have migrated into Block 1, as evidenced by the
active oil seep at Paraa that is located within the south eastern part of the
licence. This oil seep, together with the presence of the amplitude anomalies,
supports the potential for hydrocarbons within the block.
Heritage has a 50% interest in Blocks 3A and 1, with Tullow Oil as
partner for the remaining 50%.

Notes to Editors

- Heritage is listed on the Main Market of the London Stock Exchange.
The trading symbol is HOIL.

- Heritage is an independent upstream exploration and production
company engaged in the exploration for, and the development,
production and acquisition of, oil and gas in its core areas of
Africa, the Middle East and Russia.

- Heritage has producing properties in Oman and Russia and exploration
projects in Uganda, the Kurdistan Region of Iraq, the Democratic
Republic of Congo, Malta, Pakistan, Tanzania and Mali.

- As at 30 September 2007, the Group had proved plus probable net
entitlement reserves of 62.1 million barrels of oil equivalent
('MMboe'), valued at US$260 million at a discount rate of 10%, as
certified by RPS Energy.

- As at 30 September 2007, the Group had proved plus probable plus
possible net entitlement reserves of 163.9 MMboe, valued at
US$824 million at a discount rate of 10%, as certified by RPS Energy.

If you would prefer to receive press releases via email please
contact Sasha Abrams ([e-mail]) and specify
"Heritage press releases" in the subject line.

FORWARD-LOOKING INFORMATION:

Except for statements of historical fact, all statements in this news
release - including, without limitation, statements regarding production
estimates and future plans and objectives of Heritage - constitute
forward-looking information that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate;
actual results and future events could differ materially from those
anticipated in such statements. Factors that could cause actual results to
differ materially from anticipated results include risks and uncertainties
such as: risks relating to estimates of reserves and recoveries; production
and operating cost assumptions; development risks and costs; the risk of
commodity price fluctuations; political and regulatory risks; and other risks
and uncertainties as disclosed under the heading "Risk Factors" in its
Prospectus and elsewhere in Heritage documents filed from time-to-time with
the London Stock Exchange and other regulatory authorities. Further, any
forward-looking information is made only as of a certain date and the Company
undertakes no obligation to update any forward-looking information or
statements to reflect events or circumstances after the date on which such
statement is made or reflect the occurrence of unanticipated events, except as
may be required by applicable securities laws. New factors emerge from time to
time, and it is not possible for management of the Company to predict all of
these factors and to assess in advance the impact of each such factor on the
Company's business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those contained in
any forward-looking information.

%SEDAR: 00010129E

For further information: Investor Relations, PR - Europe: Bell Pottinger
Corporate & Financial, Ann-marie Wilkinson, Nick Lambert, Andrew Benbow, Tel:
[phone], Email: [e-mail],
[e-mail], [e-mail]; Heritage
Oil Corporation: Tony Buckingham, Paul Atherton, Tel [phone], +44 (0)
870 011 5555, [phone], Email [e-mail]; Canada: CHF
Investor Relations, Cathy Hume, Lindsay Carpenter, [phone] x231, 239,
[e-mail], [e-mail]

[toynet]

news zum Congo:

http://www.reuters.com/article/marketsNews/idCAL302842562008…

na ja.

[toynet]

und hier gibt es den Jahresbericht 2007 .

http://www.heritageoilltd.com/_include/pdf/annual_report_07_…

Schluss Canada heute: 6,00 can$

TN

[KaOzz]

Chartsetup LSE




Den Abwärtstrend habe ich nicht eingezeichnet. Dieser wurde aber nach oben verlassen und nun werden alte Höchstsände anvisiert!!!



Kurse:

TSX: 7,08 CAD (HOC)
LSE: 2,95 GBP (HOIL.L)
FSE: 3,70 EUR (A0NG6K)

Zu der Frage, warum es eine so große Bewertungsdifferenz zwischen TSX und LSE/FSE gibt, habe ich mal ne Anfrage an die IR-Abteilung geschickt

[KaOzz]

Antwort auf Beitrag Nr.: 34.160.086 von KaOzz am 23.05.08 15:58:10

...alte Höchstsände anvisiert...

Natürlich nur wenn der Widerstand bei 300 GBP geknackt wird. Allerdings bin ich skeptisch, dass das in den nächsten Tagen passieren wird. Lassen wir uns mal überraschen.

[KaOzz]

Widerstand mit Furore geknackt

Wer hätte gedacht, dass es so schnell geht!?!

Hab noch keine Antwort gekriegt bezüglich Arbitrage zwischen TSX und LSE...

[KaOzz]

Director Dealings

Trade Date Insider Transaction Shares Price Amount Holding
07 Apr 2008 John McLeod Non-Executive Director Notification of Holding 0 N/A N/A N/A
07 Apr 2008 Gregpry Turnbull Non-Executive Director Notification of Holding 0 N/A N/A 300070 (0.10%)
07 Apr 2008 Paul Atherton CFO Notification of Holding 0 N/A N/A 1140000 (0.50%)
31 Mar 2008 Anthony (Tony) Buckingham CEO Notification of Holding 0 N/A N/A 94669848 (35.70%)

[KaOzz]

Heritage Oil - Notice of Annual General Meeting


TORONTO, June 17 /CNW/ - Heritage Oil Limited, an independent upstream
exploration and production company, listed on the London Stock Exchange under
the symbol HOIL, announces that its Annual General Meeting will be held on
Thursday, 19 June 2008 at 3:00pm at 22 Grenville Street, St. Helier, Jersey.

[toynet]

Antwort auf Beitrag Nr.: 34.315.486 von KaOzz am 17.06.08 12:42:30

Ein operational update zur Hauptversammlung gibt es hier:


www.heritageoilltd.com/_include/pdf/2008_06_19_Heritage_AGM_…

und ab Montag dann also auch im mid cap FTSE 250 vertreten

TN

[KaOzz]

Und Ende des Jahres wollen sie die ersten Bohrungen im Miran-Block anlaufen lassen.

Das mit dem index is ne tolle Sache:
Deswegen is möglicherweise auch der Kurs angezogen. Index-Fonds könnten sich eingedeckt haben und/oder etliche neue Investoren sind auf den Wert aufmerksam geworden.

Die Aufnahme in solche Indizes beinhaltet normalerweise auch Bilanzierungsvorgaben. Allerdings habe ich keine Ahung, wo ich Filings herkriegen kann? In Canada ging das ja bei SEDAR, aber die FSA in GB bietet den Dienst nicht oder ich habe ihn noch nicht gefunden...
(die FSA genießt ja eh den selben Ruf wie de BaFin )

Der hohe Ölpreis spült Geld in die Kasse von Heritage!

[toynet]

Antwort auf Beitrag Nr.: 34.336.351 von KaOzz am 19.06.08 19:50:19

@ KaOzz

bist du nicht im email alert eingetragen?


TN

[KaOzz]

Doch, doch. Kriege die News direkt von denen per E-Mail zugeschickt.

Wie kommst Du darauf?

[toynet]

Antwort auf Beitrag Nr.: 34.337.769 von KaOzz am 20.06.08 03:41:59

Welche filings suchst du denn noch?

[KaOzz]

Tja, manchmal werden Sachen nicht per Mail veschickt, auf die man auch gerne mal einen Blick wirft, beispielsweise MD&A Reporte. Sowas habe ich zumindest nicht per E-Mail bisher bekommen

Wiederum andere Firmen veschicken überhaupt nur kalkuliert News per Mail und wichtige Infos muss man sich dann von woanders holen.

Allerdings kann ich mich bei Heritage nicht über die Investor-Relations beschweren...

Mir fällt gerade auf, dass sie ja sowieso noch an der TSX gelistet sind. Das heißt, sie müssen auch die Dokumentationspflichten erfüllen und damit gibts weitherin alle Filings auf SEDAR

[Akkiman]

Weiss jemand wo die alten threads abgeblieben sind? Ich kann sie nicht mehr finden.

[toynet]

Antwort auf Beitrag Nr.: 34.371.063 von Akkiman am 25.06.08 12:46:59

bei w:o unter der alten HOC mit wkn a0blpp, Diskussionen

[Akkiman]

Antwort auf Beitrag Nr.: 34.372.944 von toynet am 25.06.08 15:49:32

alles klar, danke

[toynet]

Neues zu Kingfisher 2:


Press Release Source: Tullow Oil plc

Uganda Block 3A: Kingfisher-2 Update
Monday June 30, 2:41 am ET

LONDON, June 30 /PRNewswire-FirstCall/ -- Heritage Oil, the operator of the Kingfisher-2 exploratory appraisal well in Block 3A, Uganda, in which Tullow Oil plc (Tullow) is a 50% partner, today issued the following press release.

ADVERTISEMENT
HERITAGE OIL Provides KINGFISHER-2, UGANDA DRILLING UPDATE

Heritage Oil Limited (LSE: HOIL - News), an independent upstream exploration and production company, is pleased to announce that the Kingfisher-2 exploration and appraisal well in Block 3A, Uganda, has currently reached a drilled depth of 2,922 metres. Excellent oil shows have already been encountered over a gross vertical interval of approximately 105 metres from three potential sandstone reservoir zones. Preliminary interpretation of the zones, prior to wireline logging, indicates they could be the lateral equivalent of three pay zones which production tested at a combined flow rate of 9,773 barrels of oil per day in the Kingfisher-1 well. Kingfisher-1 was completed in early 2007 and is located approximately 1.5 kilometres to the south-west of Kingfisher-2.

The Kingfisher-2 well is designed to appraise reservoir zones discovered by the Kingfisher-1 well, as well as explore a deeper potential objective not previously reached due to the limitations of the rig that was used to drill Kingfisher-1. When a total anticipated depth of approximately 4,100 metres has been reached, it is planned to also production test prospective zones of Kingfisher-2.

Die vollständige Meldung:
biz.yahoo.com/prnews/080630/nym057a.html?.v=1

TN

[toynet]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[KaOzz]

Antwort auf Beitrag Nr.: 34.408.155 von toynet am 30.06.08 23:25:42

Wahnsinn!

David Horgan, Manager bei Petrel hat konsequent behauptet, dass keiner der Majors im Irak Service-Arbeiten durchführen wird, sondern sie an PSA interessiert sind.

Vielleicht sollte man das mal im Pet-Thread posten, damit sie dort auf dem aktuellen Stand sind

[toynet]

Antwort auf Beitrag Nr.: 34.413.385 von KaOzz am 01.07.08 16:09:33

@ KaOzz: Woher hast du diese info bzgl. Horgan?

Diese "Nicht-Einigung" verzögert für hoil bestimmt auch die Projekte dort.

Die IEA hat das Thema ja auch in einem Nebensatz in der FTD heute erwähnt.

Sie werden sich schon einigen, es dauert halt noch; das Spiel wird bestimmt über viele Kanäle gespielt, könnte mir vorstellen, daß sich einige das viel einfacher vorgestellt haben. Ob das immer noch das ist was dereinst gewollt und gewünscht war?

Ich sehe es als Vorteil, daß hoil breiter aufgestellt ist, der Kursverlauf der letzten Wochen spiegelt es.

TN

[KaOzz]

Antwort auf Beitrag Nr.: 34.417.125 von toynet am 01.07.08 23:27:13

zu Horgan/PET hab ich dir mal ne Mail geschickt.

Ja, die breite Streuung der HOIL Projekte von ist wirklich bezaubernd...

Das tolle ist eigentlich, dass HOIL in Kurdistan macht, was ihnen das KRG erlaubt; unabhängig von der Stagnation im Parlament

Und das sind unter anderem voraussichtliche Bohrungen im Miran-Block ab Ende dieses Jahres im Zuge eines PSA

Daher sehe ich die Arbeit noch nicht als gefährdet, erst wenn das HCL in Kraft tritt, müssen wir mal weiterschauen. Da will ich jetzt aber nicht wild spekulieren, was alles passieren könnte. Es sollen lediglich Gewinne aus dem Ölgeschäft an den Staat gehen. Und der will diese Gewinne offenbar maximieren, weshalb die Öl-Multis sich auch aus der Verhandlunsrunde für Service-Verträge verabschiedet haben dürften. Die wollen fette Gewinne einsacken und ihre Aktionäre glücklich machen, da stecken garantiert auch politische Interessen dahinter.

Das konterkariert natürlich etwas die politische Idee vom Aufbau des Iraks durch das Öl-Business...

[KaOzz]

DOSSIER: Good for Oil

von Claus Hecking, Benjamin Dierks (Berlin) und Mark Krümpel (Madrid)

Fünf Jahre nach der US-Invasion will der Irak westliche Energiekonzerne ins Land lassen. Die Regierung verspricht sich Milliardenerlöse, stößt aber auf vehementen Widerstand. Zu groß ist das Misstrauen - selbst in Washington.

Die fetten Jahre dieses Ölfeldes sind längst vorbei. Pipelinerohre rosten vor sich hin, enden im Nirgendwo der Wüste bei Basra, Müll türmt sich zwischen Tümpeln aus einer schwarzen, zähflüssigen Masse. Die drei großen Kriege im Irak haben Spuren hinterlassen auf dem Rumaila-Komplex. Raketen sind über den Feldern explodiert, einige Quellen haben wochenlang gebrannt, und ob wirklich alle Minen geräumt sind, weiß niemand. 1,5 Millionen Fass (je 159 Liter) bestes, schwefelarmes Leichtöl hat Rumaila einst am Tag abgeworfen. Heute sind es noch 600.000 - an guten Tagen, wenn die überalterten Fördermaschinen mal nicht stillstehen, wenn nur wenig Öl illegal abgezapft wird, wenn es keine Sabotageakte von Terrorgruppen gibt.

Immerhin häufen sich neuerdings die guten Tage. Den US-Militärs und der irakischen Regierung gelingt es, die Gewalt im Land nach und nach einzudämmen, die neue 30.000 Mann starke Petroleumpolizei gewinnt mehr Kontrolle über die Felder. Iraks Ölförderung ist so hoch wie seit fünf Jahren nicht mehr - und nach Plänen des Staates soll sie sich in den kommenden fünf Jahren noch mal fast verdoppeln.

Diese Woche hat die Regierung dafür den Startschuss gegeben: Der Irak öffnet seine Ölfelder für internationale Konzerne - 36 Jahre, nachdem Saddam Hussein "Big Oil" aus dem Lande jagte. Ob Exxon Mobil, Shell, BP oder Total, sie alle sollen jetzt wieder mit dabei sein. "Unser Potenzial ist enorm", sagt Industrieminister Fawzi al-Hariri, "und um es auszuschöpfen, brauchen wir westliches Know-how."

Die Privatisierung wäre ein Segen für viele. Iraks Regierung verspricht sich durch den Deal Milliardeneinnahmen für den Wiederaufbau, die westlichen Multis hoffen auf den Zugang zu neuen, gewaltigen Vorkommen - und die von ständigen Preiserhöhungen gequälten Konsumenten auf ein Ende der Knappheit am Markt.

Doch bisher ist das alles ein Wunschtraum. Ehe die irakischen Ölquellen wieder sprudeln wie früher, dürften noch Jahre vergehen. Wenn es denn überhaupt klappt. Die Widerstände gegen das Comeback der Konzerne im Irak sind noch immer gewaltig - inner- und außerhalb des Landes.

Auf dem World Petroleum Congress in Madrid ist von Euphorie über die Neuigkeiten aus dem Irak nichts zu spüren. Alle drei Jahre trifft sich das Who's who der internationalen Ölindustrie. Exxon, BP, Shell - sie alle haben ihre Chefs geschickt. Zurzeit erzielen sie alle einen Rekordprofit nach dem nächsten. Gefeiert wird trotzdem nicht. Der hohe Ölpreis mag den Unternehmen kurzzeitig die Kassen füllen, auf Dauer ist er desaströs fürs Geschäft. Egal ob Russland, Venezuela oder Nigeria - viele große Förderstaaten beuten ihre Vorkommen lieber im Alleingang aus statt wie bisher mit den Multis. Sie wollen den ganzen Profit machen. Und lassen Exxon und Konsorten kaum noch an neue Quellen heran.

Der Irak wäre der Ausweg aus dem Dilemma. Im Zweistromland lagern nach Regierungsangaben noch mindestens 115 Milliarden Barrel. Der Schatz liegt oft nur wenige Hundert Meter unter der Oberfläche; die Produktionskosten einiger Felder sollen unterhalb von 5 $ je Fass liegen. Ein Dorado für die westlichen Konzerne, die ihren Stoff notgedrungen immer öfter aus Tausenden Meter tiefer See oder monatelang gefrorenem Erdboden in Kanada gewinnen müssen. "Irak ist eine der wenigen Weltregionen, die deutlich mehr Öl produzieren könnten", sagt Fatih Birol, Chefökonom der Internationalen Energieagentur.

Rumaila, Kirkuk, Subair, Westkurna, Bai Hassan und Maysan heißen die Felder, auf die die Großen der Branche schon lange lauern. Einige haben die irakische Regierung über Jahre kostenlos beraten, wie sie es nennen - und dabei eine Menge Einfluss auf die Liberalisierung genommen.

Auch Total gehört zu dieser Gruppe, und doch verbreitet der Chef des französischen Ölriesen gedämpfte Stimmung. "Ich will hier nicht der Pessimist sein", sagt Christophe de Margerie. Aber für sein Unternehmen sei es undenkbar, schon jetzt massiv in den Irak zu investieren und eigene Leute hinzuschicken - zu groß seien noch immer die Sicherheitsrisiken. Und so hält es de Margerie auch für unwahrscheinlich, dass Total schon im kommenden Jahr einen langfristigen Fördervertrag im Irak unterzeichnen wird, wie es die dortige Regierung erhofft: "Kurzfristige Servicekontrakte mit der irakischen Ölindustrie sind das, was wir heute tun können."

Und selbst hier hakt es. Bislang haben die Konzerne noch nicht einmal die ersten Vorverträge unterzeichnet: Abkommen, welche die großen Deals vorbereiten und die Multis bei der Bekämpfung der ärgsten Probleme der irakischen Ölindustrie einspannen sollen. Deren Abschluss wird seit Wochen immer wieder verschoben. "Die Konzerne weigern sich, uns gegen Geld zu beraten", wettert Iraks Ölminister Hussein al-Schahristani. Schon für die Vorverträge "wollen sie als Vergütung einen Teil unseres Öls". Und das gehöre dem Irak.

Al-Schahristani und seinen Kabinettskollegen steht ein heikler Balanceakt bevor. Einerseits brauchen sie schon jetzt die Hilfe der Multis, um die Förderung kurzfristig noch einmal zu steigern. "Nur mit hohen Öl- und Gaseinkünften kann der Wiederaufbau gelingen", sagt Industrieminister al-Hariri. Stuart Bowen, der Generalinspekteur der US-Regierung, prognostiziert dem Irak jährliche Exporteinnahmen von bis zu 70 Mrd. $.

Andererseits können sich viele Iraker nur schwer mit dem Gedanken anfreunden, dass ausländische Konzerne bald wieder Zugriff auf ihr Öl bekommen sollen. Zumal einige Namen ungute Erinnerungen wachrufen. BP, Exxon, Shell und der Total-Vorgänger CFP - sie alle gehörten einst der Iraq Petroleum Company an, die während der Kolonialzeit und in den ersten Jahrzehnten nach der Unabhängigkeit ein Monopol auf die irakischen Ölvorkommen hatte.
Das Ölgesetz, das den Ausländern die Rückkehr in den Irak ermöglichen würde, liegt bereits seit anderthalb Jahren im Parlament auf Eis: Die einzelnen Regionen streiten sich über die Verteilung der Einnahmen. "Unser Land verpasst eine riesige Chance, weil wir uns nicht schnell genug bewegen", warnt Ölminister al-Schahristani. Doch wie es aus Bagdad heißt, werde der Entwurf frühestens im Oktober wieder in der Nationalversammlung besprochen.

Ob es dann endlich zu einer Einigung kommt, ist fraglich. Die kurdische Autonomieregierung beansprucht die Vorkommen rund um die Stadt Kirkuk für sich, und sie hat gegen den Willen der nationalen Regierung für diese Felder bereits eigene Abkommen mit ausländischen Ölfirmen abgeschlossen. "Keine Macht in Bagdad kann diese Verträge annullieren", sagt der kurdische Ministerpräsident Nechirvan Barzani. Auch in den USA wird die Kritik an der Rückkehr der Konzerne in den Irak immer lauter. Vor wenigen Tagen wandte sich eine Reihe einflussreicher Senatoren in einem Brief an Außenministerin Condoleezza Rice und baten sie, die Verträge nicht zuzulassen. Diese könnten den Antiamerikanismus in der Region schüren und den Eindruck erwecken, dass es bei der Invasion doch um Öl ging. "Wir haben Angst, dass diese Handlungen die politischen Spannungen im Irak vertiefen und unsere Soldaten in noch größere Gefahr bringen."

Die US-Regierung wies das Ansinnen umgehend zurück. "Der Irak ist ein souveränes Land, das selbst entscheiden kann, wie es die Entwicklung seiner Ölressourcen voranbringen will", sagte eine Sprecherin.

Doch wie souverän ist die irakische Regierung wirklich? US-Medienberichten zufolge waren Mitarbeiter der vom Weißen Haus angeheuerten Unternehmensberatung Bearingpoint maßgeblich an der Entstehung des umstrittenen Ölgesetzes beteiligt. Und wie die "New York Times" diese Woche enthüllte, mischten eine Reihe von Beamten des US-Außenministeriums bei der Ausarbeitung der Vorverträge mit "Big Oil" mit. "Wir unterminieren unsere Glaubwürdigkeit, wenn wir von der Souveränität des Irak sprechen und zugleich unsere Hände mitten im Geschehen haben", kritisiert Frederick Barton, Experte des Washingtoner Center for Strategic and International Studies.

So umstritten ihr Comeback im Irak ist - die Konzerne rechnen offenbar fest damit, dass sie am Ende ins Land dürfen. Ihre Claims haben sie jedenfalls schon abgesteckt. Total und Chevron verhandeln mit der Regierung über einen Vertrag zur "Unterstützung" bei der Entwicklung des Ölfelds Westkurna. BP, so heißt es in Branchenkreisen, werde sich auf Rumaila konzentrieren, Exxon Mobil auf Subair im Süden des Landes, Shell auf Kirkuk im Norden. Mindestens sechs Millionen Barrel pro Tag könnten im Irak einmal gefördert werden, sagt Total-Chef de Margerie. "Aber fragen Sie mich nicht, wann das sein wird. Ich weiß es nicht."

http://www.ftd.de/politik/international/381250.html?nv=cd-to…

[ducatiman]

Antwort auf Beitrag Nr.: 34.341.480 von KaOzz am 20.06.08 14:43:42

Hallo
HOC ist zwar an der TSX gelistet, aber warum zu einem Preis von 8,18 CAD welcher ja fast 1€ höher liegt nach jetzigem Kursverhältnis als in Frankfurt.
Kann das mal wer erklären????
Danke im voraus

[KaOzz]

Antwort auf Beitrag Nr.: 34.437.208 von ducatiman am 04.07.08 10:53:39

Bis jetzt leider nicht
Könnte was damit zu tun haben, dass drüben ne andere Aktienart gehandelt wird. Ansonsten könnnte man sich mit Arbitrage-Geschäften dumm und dämlich verdienen...


Sehe gerade, dass es eine neue Presentation gibt:

http://www.heritageoilltd.com/pdf/Heritage_Oil_Limited_Prese…

[luxinvest]

Press Release Source: Heritage Oil Corporation


Heritage Oil Limited - Grant of Awards under the LTIP - Interests of Executive Directors and Persons Discharging Managerial Responsibilities
Friday July 4, 2:00 am ET


CALGARY, July 4 /CNW/ - Heritage Oil Limited, an independent upstream exploration and production company, announces that following shareholder approval of the Long Term Incentive Plan ("LTIP") at the recent Annual General Meeting held on 19 June 2008, the Board of Directors on the recommendation of the Remuneration Committee has granted the following conditional nil cost ordinary share awards to the Executive Directors and certain senior members of staff, including Persons Discharging Management Responsibility ("PDMR").
In accordance with the rules of the LTIP, the following awards were granted on 19 June 2008 at a price of 345 pence per ordinary share, being the closing price on that day:


Executive Directors
-------------------
No. of ordinary shares subject to LTIP

Anthony Buckingham 2,347,826
Paul Atherton 1,159,420

The actual number of shares that will be finally awarded out of the maximum numbers stated above either under the LTIP, or the alternative cash settlement at the Company's option, is dependent upon the achievement of performance criteria measured over a vesting period of three years for each award, including those set out below and the continued employment of the Executive Director:

1. The Company's relative total shareholder return (capital gain plus
dividends) ("TSR") versus a comparator group of international oil
companies. None of the awards vest until comparative performance
is close to the upper quartile level of the comparator group. This
has been designed to only provide reward for exceptional
performance.
2. A requirement for the Company's share price to increase by 20%
between the date of award and the end of the vesting period.
3. An additional holding period of one year following the vesting of
the awards.

PDMR
----
No. of ordinary shares subject to LTIP

Brian Smith 195,651

The actual number of shares that will be finally awarded out of the maximum numbers stated above either under the LTIP, or the alternative cash settlement at the Company's option, is dependent upon the achievement of performance criteria measured over a vesting period of three years for each award, including those set out below and the continued employment of the PDMR:

1. The Company's relative TSR versus the same comparator group for
the Executive Directors. The award will vest in full provided the
TSR is equal to or greater than that of the median performing
company in the comparator group.


For further information

Investor Relations, PR - Europe: Bell Pottinger Corporate & Financial, Nick Lambert, Andrew Benbow, [phone], Email: [e-mail], [e-mail]
Canada: CHF Investor Relations, Cathy Hume, Lindsay Carpenter, [phone] x231, x239, Email: [e-mail], [e-mail]
Heritage Oil Limited, Tony Buckingham, Paul Atherton, [phone], [phone], [phone], Email [e-mail]

[luxinvest]

Antwort auf Beitrag Nr.: 34.438.947 von KaOzz am 04.07.08 13:58:11

Abend KaOzz,

Dass es sich um eine andere Aktienart handelt, kann ich mir nicht vorstellen.Beobachte dieses Spiel auch schon seit längerem und die Shares die in Frankfurt gehandelt werden, sind nicht im geringstem vergleichbar mit denen die in L siehe C gehandelt werden.
Hatte vor kurzem ein Wert bei dem die gleiche Situation gegeben war.Hab auch einiges an dieser Situation verdient, bis vor kurzem, wollte ich nochmal...doch dann...kriege meine Shares nicht mehr an belibige Stelle verkauft.
Siehe eher dieses gleiche Problem hier, ist trotzdem mal n'en Versuch wert.

Mfg

Schönes Wochenene

[luxinvest]

Antwort auf Beitrag Nr.: 34.442.068 von luxinvest am 04.07.08 20:01:14

Morgen,

vergiess mal den letzten Satz, gilt nur für die Xetra

[luxinvest]

Iraqi MP Dr Mahmoud Othman misquoted by press on oil contracts


Dr Mahmoud Othman, MP of the Kurdistan block in the Federal Parliament in Baghdad, has denied statements attributed to him by the press saying that the KRG's oil contracts are illegal.

Dr Othman has requested the Kurdistan Regional Government issue a statement on his behalf clarifying that he was misquoted in his comments on proposed Federal Oil Ministry contracts and existing KRG contracts.

Minister Falah Mustafa, KRG Head of Foreign Relations, said, "It is unfortunate that Dr Othman has been misquoted by the local press, and this in turn has been picked-up by various international news wires. In his interview on July 8 with Azzaman, Dr Othman specifically referred to proposed Federal Oil Ministry contracts only as not having sufficient legal basis, and he did not refer to any contracts signed by the KRG. Dr Othman has authorised me to release his statement which follows.

"I was unfortunately misquoted by the Azzaman in a recent story about the oil contracts that the Federal Oil Ministry has been proposing. I specifically stated that I believed these proposed Oil Ministry contracts lacked solid legal and constitutional foundations because a Federal Oil and Gas Law has yet to be passed by the Federal Parliament. In the absence of such a foundation, and in the absence of a review by the Federal Oil and Gas Council yet to be established under the Federal Oil and Gas Law, it is my view that the Federal Oil Ministry cannot proceed with any of its proposed contracts".

The MP added, “I further noted that the contracts signed by the KRG had solid and unimpeachable constitutional foundations, as they have been awarded according to the valid KRG laws relying on the fact that oil and gas resources are not the exclusive expressed right of the Federal Government. I believe that the contracts entered into by the KRG are fully legal and constitutional. This issue is being addressed at the political level now. If it is not resolved at the political level then the matter will go to the Constitutional Court which will have the final say.

Therefore, in no way have I suggested - intentionally or otherwise - that the KRG contracts are unconstitutional or not legal. I ask all national and international press outlets that have carried the original misquoted story to publish this statement to correct the statement attributed to me.”

[luxinvest]

Iraq limits no-bid oil contracts to one year
Published by Dan Graeberon July 17, 2008in Uncategorized. 0 Comments
<!--[if gte mso 9]> Normal 0 false false false EN-US X-NONE X-NONE <![endif]--><!--[if gte mso 9]> <![endif]-->

The Iraqi government is planning to limit no-bid contracts being negotiated with several major oil companies to one year to avoid overlap with longer-term deals expected to be signed next June, the Associated Press reported.


The no-bid contracts have sparked controversy because several major Western firms have been involved in the discussions. There are concerns that granting such contracts to Western oil companies could feed perceptions that U.S.-led forces toppled Saddam Hussein to grab the country’s natural resources.


Some, the AP said later in a follow-up report, believe the no-bid deals in Iraq could give Western firms an advantage in the larger bidding process, which Oil Minister Hussain al-Shahristani said last month would include 35 foreign companies. The firms he named included seven from the U.S., three from Britain and others from countries like Russia and China.


Colorado Senatorial candidate Bob Schaffer acknowledged that he knowingly arranged an oil deal in the Kurdish region of Iraq that was counterproductive to American interests in the region. He argued that the deal was allowed under Iraq’s federal system, and so he felt comfortable pursuing it, writes Sam Stein for The Huffington Post.


For years, “oil” and “Iraq” couldn’t make it into the same sentence in mainstream coverage of the invasion and occupation of that country. Recently, that’s begun to change, but “oil” and “the Pentagon” still seldom make the news together.


Last year, for instance, according to Department of Defense (DoD) documents, the Pentagon paid more than $70 million to Hunt Refining, an oil company whose corporate affiliate, Hunt Oil, undermined U.S. policy in Iraq. Not that anyone would know it. While the hunt for oil in Iraq is now being increasingly well covered in the mainstream, the Pentagon’s hunt for oil remains a subject missing in action, writes Nick Turse for MotherJones.


Four Democratic senators, including Sen. Carl Levin, called on the State Department’s inspector general to investigate whether agency employees encouraged lucrative oil deals between Iraq and several Western companies.


Any behind-the-scenes meddling would have violated administration policy, which was to discourage the business dealings until Baghdad passed a law that would fairly divide the nation’s oil resources among the various provinces, says Anne Flaherty with The Associated Press.


German oil and gas company Wintershall, part of chemicals group BASF has a “big chance” of winning oil exploration rights in Iraq, German Economy Minister Michael Glos Reuters reports.


“The German crude oil firm Wintershall has, for example, a big chance of getting exploration rights for crude oil in Iraq,” Glos told daily Die Welt. “I hope that it and other firms get more involved in extracting crude oil in Iraq.” “But the German construction and construction materials industry also have a big chance,” added Glos, who at the weekend became the first German cabinet minister to visit Iraq since the U.S.-led invasion of the country in 2003.

[luxinvest]

Kirkuk oil exports resume following debt payment to Turkey
Published by Dan Graeberon July 22, 2008in Uncategorized. 0 Comments
<!--[if gte mso 9]> Normal 0 false false false EN-US X-NONE X-NONE <![endif]--><!--[if gte mso 9]> <![endif]-->Turkey restarted loadings of halted Iraqi oil exports on Tuesday after Iraq paid $50 million of a total $100 million debt, a senior source from the state pipeline company Botas told Reuters.


An Iraq oil ministry official had said earlier Iraq’s Kirkuk oil exports to Turkey had been halted after a Turkish court ordered the stoppage pending settlement of the claim.


Speigal Online said Iraq is attempting to revive its oil business. And in Iraq, The Association of German Chambers of Industry and Commerce also sees opportunity for German companies. “There is also demand for German companies in the area of technologies for oil exploration,” said commerce chief Axel Nitschke, adding that oil could provide Iraq with a fresh start economically.



Iraq has asked international oil companies to revise proposals for technical service contracts worth about $3 billion that aim to boost the country’s oil output by about a quarter.


The revisions could delay the signing of the six contracts — worth around $500 million each — until August or September, Simon Webb and Mohammed Abbas report for Reuters.


Iraq is sitting on billions of barrels of oil, but it doesn’t have the money or expertise to pull it out of the ground, so it’s looking to European energy firms to help get the job done.


In the long term, Iraq plans to partner with foreign companies to develop new wells, says Marketplaces’ Dan Grech.


The oil industry is cautious about Iraq’s decision to offer foreign companies long-term contracts to develop its largest producing fields, with any windfalls seen as distant and likely to go to a select few firms.


Earlier this month, Iraq said it would offer development contracts aimed at boosting output at six fields by a combined 1.5 million barrels per day (bpd).


The plan, says Tom Bergin with Reuters, is aimed at helping the country lift output to 4.5 million bpd by 2013 from about 2.3 million bpd now.


But Iraq’s decision to pay companies a fee for extracting the oil, rather than sell them an interest in fields, dashed hopes of near-term windfalls and may delay big rises in crude production.


Will the war in Iraq give us the Tiger? Military scientists at Edgewood Chemical Biological Center at Aberdeen Proving Ground hope so. The machine - its full name is the Tactical Garbage to Energy Refinery - combines a chute, an engine, chemical tanks and other components, giving it the appearance of a lunar rover. It’s designed to turn food and waste into fuel. If it works, it could save scores of American and Iraqi lives, says Josh Mitchell with The Baltimore Sun.

[luxinvest]

<!--[if gte mso 9]> Normal 0 false false false EN-US X-NONE X-NONE <![endif]--><!--[if gte mso 9]> <![endif]-->An oil refinery in the once restive and violent city of Haditha is working once again.


The reopening ceremony was attended by Oil Minister Hussein Shahristani who thanked the people of the Province of Anbar, of which Haditha is a major town, for their efforts to restore relative stability.


The refinery was shut due to mounting violence which had turned the whole of Anbar Province into a war zone, Azzaman reports.


Ramco Energy notes the recent share price movements and articles in the media surrounding its associate company Mesopotamia Petroleum Company Limited, in which Ramco holds a 32.66% interest, concerning the establishment of a joint venture with the Government-owned Iraqi Drilling Company.


Ramco confirms that MPC has been in talks concerning the establishment of a joint venture to provide oil services with IDC, under a mandate from the Iraq Ministry of Oil, for some considerable time and these have reached an advanced stage, OilVoice said.


UK’s Midmar Energy confirmed the deal, saying that its associate company, Mesopotamia Petroleum Company (MPC), is in the advanced stages of discussion regarding a joint venture with state-owned Iraq Drilling Company (IDC).


Midmar formed MPC in 2005, with its partners, as an oil and gas company established for the specific purpose of undertaking operations in Iraq. Midmar holds a 32.67% interest, Upstreamonline reported.


“We anticipate the formal ratification of our agreements in order to progress our work in Iraq,” said Midmar boss Thomas Redman in a statement.


A project to supply, process, and transport natural gas to Kurdistan Region for much-needed and more affordable electricity is rapidly progressing.


The United Arab Emirates’ Dana Gas and Crescent Petroleum are to start producing natural gas in the Iraqi Kurdistan Region as of next month, and they promise to put an end to the devastating power and fuel crisis.


The head of Dana Gas, Hamid Dhia Jaafar, announced that his company and Crescent Petroleum will start producing natural gas in Kurdistan Region on August 1, 2008, Aiyob Mawloodi with The Kurdish Globe reports.


Occidental Petroleum CEO Ray Irani said Iraq’s larger oil fields will likely draw formal participation from a consortium of large Western oil producers later this year, as the war-torn country moves to ramp up its economy. “There are some very large fields in Iraq which are going to become available,” Irani told Wall Street analysts on a conference call. “The huge ones will be run by…the oil majors and companies our size. No one company is going to get a field of 20 billion barrels or more, period.” Occidental also sees an opportunity to run smaller fields in Iraq on its own, Steve Gelsi for MarketWatch says.


At a time of high oil prices and supply shortages, the dispute over Iraq’s oil reserves, which could produce an additional 1.5m barrels a day with minimum investment, demands urgent resolution.


Iraq’s oilfields require immediate and expert maintenance, and the Iraqi people need the funds the oil can command on the global market. But negotiations on a draft national oil law are hopelessly stalled and controversy has erupted over proposed contracts with foreign oil companies. Iraq needs international support to negotiate fair and sustainable deals, Yahia Said writes for The Financial Times.


Iraq may be seeking to accelerate crude production, says Tamsin Carlisle for The National, but the outlook for concluding any agreements to develop the country’s oil and gas resources remains exceptionally murky.


Earlier this month, the oil ministry of Iraq asked international oil companies to revise proposals for short-term deals to raise output from Iraq’s six biggest producing oil fields, shortening the contracts to between 12 and 18 months from the two years previously stipulated. But there is no guarantee that Western oil companies involved in the negotiations will be amenable to the new terms.


Industry analysts and executives are skeptical a planned opening of the war-torn country’s oil industry to foreign investment will bring big profits for the Western Oil Majors, or boost output as much as hoped, Tom Bergin writes for Reuters.


While many have lined up to register to bid for Iraqi oil deals, actual bidders may be thinner on the ground and deals may take longer to conclude than the government plans.


“If the invasion was about oil, let the record show it has been more botched than even its toughest critics claim,” Raad Alkadiri, Senior Director in the Markets and Country Strategies practice, at industry consultants PFC Energy said in a note to clients.


Responding to a request by four Senate Democrats, the State Department’s inspector general

has announced an inquiry into the department’s policy on western oil company contracts in Iraq.


“I have initiated a review of the responses provided to Congress recently on issues surrounding oil contracts, oil field development and U.S. policy in Iraq,” Acting State Department Inspector General Harold Geisel wrote in a June 22 letter obtained by CongressDaily.


The letter to Senate Armed Services Committee Chairman Carl Levin, D-Mich., and Sens. Charles Schumer, D-N.Y., John Kerry, D-Mass., and Claire McCaskill, D-Mo., refers to material State gave the House Oversight and Government Reform Committee for its investigation into a deal involving Texas-based Hunt Oil Co., as well as other potential oil contracts

[luxinvest]

Kurds hamper legislation of Iraq’s national oil company-MP

Baghdad - Voices of Iraq
Friday , 25 /07 /2008 Time 10:41:35




BAGHDAD, July25 (VOI) - A lawmaker from the main Shiite bloc on Friday blamed the Kurds for the delay in oil and car legislation.




The new law attempts to balance the interests of the warring Sunni, Shiite and Kurd factions which conflict over the relation between the central government the regions and how to distribute the revenue.
“Kurds rejected approving the operation of a national oil company and linking its establishment with legislations of three laws in one package” Abdel Hadi al-Hasani, MP from the Shiite United Iraqi Coalition (UIC), told Aswat al-Iraq-Voices of Iraq(VOI).
Political wrangling has stifled progress on the draft law for dividing revenues from Iraq's considerable oil reserves, prompting the largely autonomous region of Kurdistan to begin signing its own contracts in September.
Hasani is the deputy chief for the parliament’s oil and gas committee and a member of Dawa party-Iraq organisation.
The UIC lawmaker pointed out “a national oil company must be establsihed before enacting the oil and gas law otherwise its implementation would ne incomplete”.
He added “he sent a letter to the Council of Ministers to speed up referring the oil company draft to the paliament”.
The law stipulates establishing a holding national company owned by the state to oversee the excavation, drilling and production processes on behalf of the central government.

For his side, Kurdish MP Ali Hussein Balou rejected the blames that Kurdistan region hampered legislation of a national oil company.
“There is an agreement between the central government and the regional Kurdish government to vote on four laws of a national oil company, regulating revenues of oil and gas and regulating the operation of the oil ministry in one package”, MP Balou, the chief for the parliament’s oil and gas committee, told Aswat al-Iraq-Voices of Iraq(VOI).
The lawmaker conceded “there is a sort of conflict between the two governnment over the oil company authorities”, adding “the regional Kurdish government wanted it to be with limited authorities, while the central government wanted it to be extensive authorities”.
Iraq's oil minister Hussein Shahristani has recently cancelled supply contracts agreed between the Kurdistan regional government and international oil companies, including Austria's OMV and South Korea's SK Energy
International giant oil companies stressed the importance of an agreement being reached on the oil law as quickly as possible.

[luxinvest]

U.S. State Dept investigates Iraqi oil contracts
Published by Dan Graeberon July 27, 2008in Uncategorized. 0 Comments
The State Department’s inspector general is investigating Iraqi oil contracts after four Democratic senators complained that department employees may have encouraged lucrative oil deals between Iraq and several Western companies, Christine Simmons writes for the AP.


Any backstage meddling would have violated Bush administration policy, which has been to discourage such deals until Baghdad passes a law that will fairly divide the nation’s oil resources among the various provinces.

Reports that a number of international oil companies are on the brink of signing contracts with Iraq have prompted a furious reaction in certain parts of the media and on Capitol Hill. The deals have been widely characterized as no-bid contracts, implying that Big Oil has somehow used its political clout to muscle in on Iraq and renewing suspicion that the whole U.S. intervention in Iraq was primarily a grab for natural resources.


In the Senate, senior Democrats have argued that the contracts would heighten Iraq’s sectarian tensions, and those lawmakers are threatening to cut financing for some nonmilitary programs in Iraq if the deals go ahead without prior passage of new hydrocarbons legislation.


These are gross mischaracterizations of the Iraqi contracts, writes Raad Alkadiri in The Washington Post.

The AP reports that the Iraqi Oil Ministry says oil exports in June amounted to 58.1 million barrels, a 4.3 percent decline from the previous month.


Sunday’s statement says it sold for US$123 a barrel and yielded US$7.141 billion.


It adds that 43.6 million barrels were exported through the south and 14.5 million from Turkey’s port of Ceyhan

Jordan is seeking six billion dollars from international donors to build a railway link with its neighbours and plans to import Iraqi crude oil by rail, the transport ministry said.


Covering more than 1,000 kilometres (600 miles), the railway would also link the Saudi and Iraqi borders with Jordan’s northern city of Irbid as well as the northeastern towns of Mafraq and Azraq, Agence France-Presse said.


The report recommended that Iraqi crude oil be carried via rail, scrapping plans to build a 260-million-dollar pipeline between the two countries.


The leader of Iraq’s semiautonomous Kurdish region was in Baghdad for talks with the central government on disputes blocking key measures such as provincial elections and sharing oil revenue.


Kurds also are battling the Shiite-led government over foreign oil investment. Washington strongly backs the elections and proposals to divide Iraq’s oil wealth among its various groups, calling them important steps toward national reconciliation, the AP reported.


“Kurds rejected approving the operation of a national oil company and linking its establishment with legislations of three laws in one package” Abdel Hadi al-Hasani, MP from the Shiite United Iraqi Coalition Voices of Iraq.


Political wrangling has stifled progress on the draft law for dividing revenues from Iraq’s considerable oil reserves, prompting the largely autonomous region of Kurdistan to begin signing its own contracts in September.

[stumpfser]

Kann jemand, die Kursziele bzw. Potential HOI für die nächste 2-3 Jahre mit und ohne Irak Oil vorzustellen.

Danke

[luxinvest]

MP calls for oil minister to resign over administration failure

Baghdad - Voices of Iraq
Tuesday , 29 /07 /2008 Time 9:19:50




BAGHDAD, July 29 (VOI) - A lawmaker on Tuesday called for the oil minister to resign for failure to administer the most-awaited sector in the global petroleum market. Divisions between Iraqi denominations and political blocs have postponed passing an oil and gas law in a country looking for revenues to rebuild its infrastructures after years of sanctions and violence.


"The Oil Ministry's administration is a failure and must be replaced, including the oil minister," MP Jabbir al-Khalifa, rapporteur for the parliament's oil and gas committee, told Aswat al-Iraq -Voices of Iraq - (VOI).
Al-Khalifa is a lawmaker from al-Fadhila (Virtue) bloc which broke away from the United Iraqi Coalition (UIC), the main Shiite bloc in the Parliament, due to disagreements over the Oil Ministry and the political platform.
The MP conceded "no vote of confidence is possible for the oil minister due to the control exercised by the executive body over other authorities," adding "the executive body adamantly disapproved questioning ministers, including the trade minister."
Oil Mnister Hussein al-Shahristani is a nuclear scientist and a key member of the United Iraqi Coalition.
Earlier, MP Sabah al-Saadi, tabled a request signed by 105-lawmakers to question Trade Minister Abdel al-Falah al-Soudani over corruption charges.
Al-Khalifa criticized the oil ministry scheme to sign technical support contract(TSC) agreement with international companies to develop its oil discovered oilfields.
"Offering oilfields to foreign companies contradicts the oil and gas law under discussion in Parliament and political circles," he added.
In February 2007, Iraq's cabinet approved a draft oil law which aims to equitably share revenues from its oil revenues among the country's ethnic groups.

The bill - allocating oil revenues between Iraq's 18 provinces based on their population levels - must be submitted to Parliament for a vote.
The sharing of oil money is a major bone of contention between Iraq's Shiite, Kurds and Sunni Arabs.
The MP pointed out Iraq's oil sectors "is need of projects to upgrade its infrastructures, expand its pipelines and system of gauges to control its flow," highlighting "Iraq lacks even extra oil stockpiles to store up its drilled oil."
The draft law also lays out method for international companies to invest in Iraq's oil industry. Iraqi Oil Ministry launched an auction for TSC agreement with foreign companies to develop oil fields and to increase production at a time global market suffered from soaring prices and production shortages.
Foreign investors have stayed away from Iraq during the past four years of violence and uncertainty.
Iraq has an estimated 115bn barrels of accessible oil reserves, putting it behind only Saudi Arabia and Iran.
Production has fallen since the US-led invasion, from 3.5m barrels per day(bpd) to approximately two million

[KaOzz]

Tullow baut am Lake Albert jetzt ne Miniraffinerie

Vollständige Meldung:

http://allafrica.com/stories/200807220889.html

[luxinvest]

Iraqi oil production peaks
Published by Dan Graeberon July 31, 2008in Uncategorized. 0 Comments
<!--[if gte mso 9]> Normal 0 false false false EN-US X-NONE X-NONE <![endif]--><!--[if gte mso 9]> <![endif]-->Iraqi oil production has risen to its highest level since the 2003 invasion on the back of improved security across the country, according to a new US government report.


Iraq pumped an average of 2.43m bpd between April and June, according to the Special Inspector General for Iraq Reconstruction, writes Demetri Sevastopulo for The Financial Times.


The report by the Special Inspector General for Iraq Reconstruction (SIGIR) said the combination of record production and high global oil prices would likely provide a windfall to the Iraqi government, which previously forecast that 2008 oil revenues would be $35bn


A new CNN/Opinion Research Corp. poll released Thursday indicates that about two-thirds of Americans believe that U.S. oil companies and foreign countries that produce oil are major causes of higher gas prices.


Just over half say that the Bush administration and the war in Iraq are major causes of high fuel prices. Just as many cite the ban on additional offshore drilling.


Iraq plans a ‘Gas City’ in Kurdistan region in a bid to spur foreign investment of over USD 40 million and create job opportunities, the Iranian Press TV reported.


Gas City is a joint venture between Emirati companies Dana Gas and Crescent Petroleum. It will be built on a 461 million square feet site (nearly 43 million square meters) assigned by the Kurdistan Regional Government.


“The Kurdistan Gas City is an enormous step as we work towards strengthening the Iraqi economy and bettering the livelihoods of the Iraqi people,” the executive chairman of Dana Gas, Hamid Jafar stated.


Royal Dutch Shell admitted making little progress in agreeing short-term oil service contracts in Iraq in recent weeks but said it was hoping for “entrepreneurial” natural gas deals.


Iraq had hoped to sign one to two year deals, under which Western oil majors are paid a fee to help boost oil output, early this year, but nothing has yet been agreed despite the passing of a June 30 deadline, writes Tom Bergin for Reuters.


A political turf war is threatening the stability of Iraq’s biggest cash cow: the embattled but so-far dependable South Oil Co.


After chasing gunmen off the streets of the southern oil city of Basra this year, Iraq’s central government is trying to reassert control over South Oil, the state-owned oil company based there. In May, Baghdad said it was reassigning the company’s top executive, Jabber el-Leaby, to an advisory position at the Oil Ministry — a move many observers see as a demotion, writes Gina Chon for The Wall Street Journal.

[Akkiman]

-16,72 % runter heute Die News von heute sind doch positiv, oder habe ich da was übersehen??

[stumpfser]

Das ist die Börse, beim gute Nachrichten-Kursrückgang.

Kursziel nächste 1-2 Jahre ?

[Akkiman]

Antwort auf Beitrag Nr.: 34.658.821 von stumpfser am 06.08.08 12:06:39

Ist für mich überhaupt nicht nachvollziehbar. In Toronto sind sie sogar 1% im plus. Wo der Kurs in 1-2 Jahren ist? Das würde ich auch gern wissen. Leider kann ich nicht hellsehen.

[luxinvest]

UPDATE 1-Heritage falls as Uganda well disappoints
LONDON, Aug 6 (Reuters) - Shares in oil and gas firm Heritage Oil (HOIL.L: Quote, Profile, Research, Stock Buzz) slumped 17 percent to a record low on Wednesday after tests revealed that no hydrocarbons were present in the deeper section of its Kingfisher-2 well in Uganda.

Shares of London and Canada-listed Heritage (HOC.TO: Quote, Profile, Research, Stock Buzz), which went public in March last year, were down 11.2 percent at 228 pence by 1305 GMT, having earlier touched a low of 211 pence.

"Although no hydrocarbons were present in the basal sands at this location, it is considered that these could still be an important reservoir target for other prospects," Heritage said of the Kingfisher-2 well.

In the same announcement, Heritage also said Tullow Oil's (TLW.L: Quote, Profile, Research, Stock Buzz) discovery of oil at its Kasamene-1 well, Uganda, "significantly" lowers the exploration risk of its own prospects about 2.5 km away.

Earlier Wednesday Tullow said that it had encountered 31 metres of oil and six metres of gas at the Kasamene-1 well in block 2.

Evolution analysts said in a research note: "The Kingfisher 2 result in the deeper target is disappointing but the Kasamene-1 well success ... has clear de-risking implications for the forthcoming drilling programme (by Heritage) on block 1 immediately to the north."

"Looking beyond the initial response today we suspect that there is the potential for a net gain and therefore suggest investors take advantage of any confusion and negative moves in the share prices", the broker added. (Reporting by Hsu Chuang Khoo; Editing by Paul Bolding and Rosalba O'Brien)

[luxinvest]

Antwort auf Beitrag Nr.: 34.658.610 von Akkiman am 06.08.08 11:44:02

hast wohl etwas überlesen

[luxinvest]

Iraq’s Cabinet has approved a multimillion dollar contract to upgrade an oil refinery in southern Iraq, The Associated Press reported.


The $81-million contract will be awarded jointly to the U.S.-based Colorado Industrial Construction Services Co. (CICSCO) and CH2M HILL’s affiliate VECO Co. for the production of gasoline from the Samawah refinery, according to the official, who spoke on condition of anonymity because he was not authorized to release the information before the contract is signed.

Iraq’s State Company for Oil Projects (Scop) is moving ahead with the upgrade of its 150,000 barrel-a-day Basra refinery after inviting bids for the supply of pipes and fittings.


The deadline for bids is 10 August. Scop says it will not necessarily accept the lowest-priced bid, reports Perry Williams for Middle East Business Intelligence.

Iraq’s state-run North Oil Company has invited companies to bid for new drilling work at its largest gas field Akkas, and on the East Baghdad oil field as part of plans to redevelop the energy sector.


The tender for the western Akkas field, which has 7 trillion cubic feet of gas, involves the upgrade of four horizontal-producing wells using one rig.


Bids are due by 30 September, with the contract expected to last between six and eight months, the Middle East Business Intelligence says.

Iraqi oil exports have fallen for two consecutive months, writes Tamsin Carlisle for The National, a possible sign that production may have peaked for now amid struggles to restore damaged energy infrastructure.


Iraq’s crude oil exports slipped to 1.89 million barrels per day last month from 1.93 mbd in June and 1.99 mbd in May, according to news agency reports. The May level was the highest since the US-led invasion of Iraq in March 2003.

Iraq is paying for more of its own reconstruction but is still struggling to spend its multibillion-dollar surplus as it copes with a flood of oil revenue and a cumbersome approval process meant to curb corruption, Robert H. Reid for the AP reports.


U.S. officials who work with the Iraqis on reconstruction said the Baghdad government has been increasing its capital spending by 30 percent to 35 percent each year since 2006 — although they added that both governments want to see the pace increased.


The Iraqi government is drafting plans for Iraqi-funded projects to include 1,000 new primary health care centers over the next 10 years, new airports and a major renovation project for downtown Baghdad, the American officials said.

Soaring oil prices will leave the Iraqi government with a cumulative budget surplus of as much as $79 billion by year’s end, according to an American federal oversight agency. But Iraq has spent only a minute fraction of that on reconstruction costs that are now largely borne by the United States.


The unspent windfall, which covers surpluses from oil sales from 2005 through 2008, appears likely to reinforce growing debate about the approximately $48 billion in American taxpayer money devoted to rebuilding Iraq since the American-led invasion, note James Glanz and Campbell Robertson for The New York Times.

According to the GAO’s latest report to Congress, the oil boom will give Iraq a surplus of $79 billion in unspent funds by the end of this year, writes Bronwen Maddox for The Times of London. Nearly $10 billion has been sitting in a U.S. bank in New York. The report, commissioned from the oversight agency by two senators, the Democrat Carl Levin and the Republican John Warner, will reignite questioning about the $48 billion the U.S. has spent since the 2003 invasion on rebuilding a country with the third-greatest oil reserves in the world.

U.S. lawmakers want Iraq to use bigger oil profits to pay for more of its own reconstruction. VOA Correspondent Scott Stearns reports, Iraq’s parliament has approved a supplementary budget that raises this year’s spending to more than $70 billion.

Thousands of workers in Iraq’s Southern Oil Company organized a two-hour sit early this week protesting a government decision to replace the company’s chief.


CEO Abduljabbar al-Aibi has been leading the company for the past four years and is credited with efforts to revamp the firm and maintain and boost output.


The company in the southern Province of Basra is responsible for gigantic oil fields which currently produce most of Iraqi oil exports.


The sit-in was called for by the Oil Workers Union, Abed Battat writes for the Iraqi daily, Azzaman.

The U.S. government says that Iraq has tucked away billions of dollars in oil revenue since 2005. But the country’s badly damaged infrastructure is still mostly propped up by U.S. funds. NPR’s Madeleine Brand talks to James Glanz, the New York Times Baghdad bureau chief, about where the money’s going and why some officials are crying foul.

[luxinvest]

Kurdish president arrives in Kirkuk to meet officials

Kirkuk - Voices of Iraq
Friday , 08 /08 /2008 Time 12:12:43




KIRKUK, Aug. 8 (VOI) – President of Iraq’s Kurdistan region Massoud al-Barazani arrived in Kirkuk on Friday morning, according to a source in the Barazani’s Kurdistan Democratic Party (KDP).


“The president will hold meetings with a number of officials in the oil-rich city,” the source, who asked for anonymity, told Aswat al-Iraq – Voices of Iraq (VOI).
He did not add more details.
Kirkuk, 250 km (156 miles) north of the Iraqi capital Baghdad, sits on the ruins of a 5,000-year-old settlement. Because of the strategic geographical location of the city, Kirkuk was the battle ground for three empires, Assyria, Babylonia and Media which controlled the city at various times.
Kirkuk is the centre of the northern Iraqi petroleum industry. It is a historically and ethnically mixed city populated by Assyrians, Kurds, Arabs and Iraqi Turkmen. The population was estimated at 1,200,000 in 2008.

[KaOzz]

Also, was war an der Meldung von letztem Mittwoch nun so sichtig, dass der Kurs 16% abgeeben musste?

Heritage Oil provides Uganda drilling update


CALGARY, Aug. 6 /CNW/ - Heritage Oil Limited (LSE: HOIL), an independent upstream exploration and production company, is pleased to provide an update on encouraging drilling activities in Uganda.

Highlights

- Excellent results from Tullow Oil's Kasamene-1 well in Block 2,
substantially lowers the exploration risks in Heritage's Block 1
- Structural trends can be traced from Kasamene-1 well (Block 2) to
Warthog, Giraffe and Buffalo prospects (Block 1). Drilling programme
to commence shortly
- Potential for Warthog prospect to be part of the same structure as
Kasamene
- Kingfisher-2 well in Block 3A to production test reservoirs in August

Upcoming Heritage Drilling Activity in Block 1, Albert Basin, Uganda

Heritage is planning an active drilling campaign in Block 1 that is
expected to commence next month on the Buffalo, Giraffe and Warthog prospects.
The excellent drilling results from the Kasamene-1 well (as announced by
Tullow Oil plc to the London Stock Exchange today and referenced below),
significantly lowers the exploration risk of these and other prospects in
Block 1.

[...]

http://www.heritageoilltd.com/resource/n4r62v10hib7194jncrgc…

Dass Tullow ziemliche Erfolge im Albert Basin hat, is bekannt und dass sie dort auch weitere gute Aussichten sehen, spiegelt sich sich schonmal im Kurs wieder.

Ich kann zumindest aus der Meldung nicht erschließen, warum der HOC-Kurs abgegeben hat.

Nochmal was zu den Aktien an der TSX aus der letzten Presentation:

Heritage completed a reorganisation on 31 March 2008 which resulted in:

– Existing Common Shares delisted from the TSX on 3 April

– Trading commenced on the LSE on 31 March with 250,513,032 ordinary issued shares

– 4,431,120 exchangeable shares of Heritage Oil Corp listed on the TSX and the LSE

– All existing shares split by a factor of ten – each existing share becomes 10 Heritage Oil shares or 10 Exchangeable shares

– No financing was required; Cdn$181.5 million raised in November 2007.

– Cash of US$230 million at 31 December 2007

Das heißt an der TSX und der LSE gibt es sog. exchangable shares. An der LSE zusätzlich aber auch ordinary shares.

Dies hat soweit erstmal was mit ner Steuererleichterung für kanadische Investoren zu tun, dass an der TSX nur noch exchangable shares gelistet sind, laut Firmenangaben.


Hab aber noch ne Bitte an an luxinvest, Deine Meldungen sind echt interessant, aber kannst Du nicht auch noch ne Stellungnahme dazu posten? Das wäre sicher echt hilfreich für die meisten hier, mich eingeschlossen.


Zum Abschluss nochmal der Overview in Uganda:

Die neuen Targets:



Zeitplan:



Infrastrukutur:

[luxinvest]

Antwort auf Beitrag Nr.: 34.699.890 von KaOzz am 11.08.08 14:38:54

Der Kurs sank nachdem Tests ergaben, dass keine Kohlenwasserstoffe in den tieferen Abschnitten der Kingfisher-2 in Uganda waren.
Also, Gewinne mitnahmen, heisst Verkäufe, Kurs sinkt und unten wird wieder billig eingedeckt.
Also baldige Erholung
Würde mal Zeit für ne Irak News, würde dem Kurs gut tun.

[luxinvest]

Heritage ernennt Salim Hassan Macki als unabhängige Non-Executive Direktor mit sofortiger Wirkung

[luxinvest]

Mr. Tony Buckingham reports

HERITAGE OIL APPOINTS SALIM HASSAN MACKI AS A NON-EXECUTIVE DIRECTOR

Heritage Oil Ltd. has appointed Salim Macki as an independent non-executive director of the company with immediate effect. Mr. Macki was a member of the State Council, Former Ambassador, government of Sultanate of Oman, and is a director of Oman Oil (a wholly owned government company) since 1996.

Mr. Macki holds a master's degree in petrochemical engineering and has spent most of his working life in the oil industry, where he is internationally highly regarded. He holds, or has previously held, many senior executive positions in various private and state-owned entities in Oman and internationally. This has included being the former chairman of Oman National Investment Corp. Holding (ONIC) and Oman India Fertilizer Company, a former director general for Oil and Minerals (effectively the Oil Minister) and former chairman of the Joint Management Committee of Petroleum Development Oman (PDO). Mr. Macki is the representative of the government of Oman on the Caspian Pipeline Consortium (CPC).

Mr. Macki has held (in the last five years) or currently holds the following positions in publicly quoted companies:


Mr. Macki was the chairman and a director of ONIC SAOG between 1999 and 2004. This is a public company traded on the Muscat Securities Market in Oman.
Mr. Macki was the chairman and a director of Alliance Housing Bank in 2004, which changed its name to Ahli Bank in January, 2008. This is a public company traded on the Muscat Securities Market in Oman.
Mr. Macki is the chairman of and director of Oman KCA Deutag Drilling Company LLC which is a subsidiary of Abbot Group Ltd. This group was listed on the London Stock Exchange until March, 2008.
Mr. Macki is the chairman and director of Oman Drilling Mud Products Company LLC, which is an associate company of Al Anwar Holdings SAOG, which is a public company traded on the Muscat Securities Market in Oman.
Mr. Macki is the chairman and director of Gulf Hotels (Oman) Company SAOG, which is a public company traded on the Muscat Securities Market in Oman.

There are no other matters that require disclosure under FSA Handbook Listing Rule 9.6.13 in respect of Mr. Macki.

Tony Buckingham, chief executive officer, commented:

"We are delighted to welcome Salim Hassan Macki to the board of Heritage; he is an outstanding addition. He brings considerable oil and gas as well as corporate experience and an extensive network of contacts in the Middle East and throughout the world. His knowledge will be an invaluable addition to our board as Heritage continues to expand its business in its core areas of the Middle East, Africa and Russia."

We seek Safe Harbor.

[KaOzz]

Danke für die Erklärung Lux!

Hab hier mal was über das neue Vorstandmitglied:

His name: Salim Hassan Macki, a man of few words, but precise and carefully chosen words, accompanied by a generous dose of humour on occasion. Hearing Macki now, it's hard to believe that he learnt English much after he learnt to speak French and Russian.
...
Engaged in many business activities, and at high positions, Macki, ex-chairman of the steering committee at Oman National Holding Company (ONIC) achieved remarkable results at this institution. At the same time as director of Oman Oil Company, Macki involved himself actively with his versatile experience in the field. The Oman India Fertilizer Company joint venture is one among these achievements.

Chairman of the OOSC group of companies, though Macki travelled to all corners of the world, the moment he came back to Oman, he was clear that his core business would be exactly what he started out studying at his college in Moscow: petrochemical engineering. While primary school was in Muscat, the only school here at the time, Macki was off to Bahrain to do his intermediate and then on to Kuwait for secondary school. Moving to the University of Cairo for pharmaceutical studies, after two years, says Macki, "I decided I didn't like it and left for Moscow instead.
...
After completing his studies in 1967, Macki came back to Oman in hope of getting a job at Petroleum Development Oman (PDO). Smiling now at the course of events then, says Macki, "When I applied for a job as petroleum engineer, I was rejected and I don't really know why!" So instead of waiting around, Macki took off to Kuwait where he got a job in a refinery. But his wanderlust and penchant for education was still not satisfied.

After a year in Kuwait, Macki received a scholarship and went off to an institute in France for a course on refineries.

The timing by now was just right to come back to Oman (August of 1970) and Macki was back at PDO looking for a job. And this time he got it. "I was the first Omani petroleum engineer and well as the first Omani to hold a senior position." An engineer for two years, Macki was now ready to move on to bigger things at the behest of the government. "I was approached by the government to set up a department of petroleum and minerals (this came under the Ministry of Economy at the time). I built up the department until it became a full-fledged ministry and a Minister of oil, minerals and agriculture was appointed at the end of 1974."

Off for a year to the US for further studies in business at Boston University, Macki was summoned back at the beginning of 1976, before ending his course, to the Ministry of Foreign Affairs. It was end 1995 that Macki left the Ministry, his last stop being Ambassador heading the department of economic co-operations. And in 1996 when the State Councils were established, Macki was appointed member of the State Council for six years.

It was after Macki left the Ministry of Oil, that he started his own business in the sector in 1975 - Oman Oilfields Supply Centre (OOSC). The business was built up into three distinct groups: OOSC concentrated on the supply of various equipment and material for the oil, gas and power industries; Special Technical Services (STS) specialised in providing maintenance, operations, construction and fabrication services to the oil and gas industry and Oman Industrial Coating Centre is in the business of industrial painting and coating services.

Today the OOSC group of companies has about 1500 employees and Macki believes that one of the main reasons behind his success, besides education and opportunities, is the fact that he stayed in the business he knew best and built that up. "Education is crucial to your success and in my case, and many others at that time, another factor that helped us was that there were abundant opportunities." However here Macki points out that while many succeeded in grabbing the right opportunities, not all could sustain it. "I am very conservative in my approach and do not believe in wasting money on risky ventures or an extravagant lifestyle."

Though soft-spoken and of an exceedingly calm exterior, one can easily see a person in Macki, who knows his own mind and would not hesitate to speak it. "In fact people often don't like me because I say what I feel. They may respect me but would not be friendly because I may seem like an obstacle to those who are trying to promote their own interests." Interestingly enough, Macki actually lists his stubbornness as his strength.
...
That people around him must be strong and able to speak their mind is an absolute necessity as far as Macki is concerned. "I employ my managers because I need their brains - they should speak. My managers argue with me all the time - either I convince them or they convince me. I have always been this way - of course, I have become more mature now and listen more."

Unwilling to comment on his plans on Alliance as it has only been a couple of months since Macki has become chairman, he is nevertheless very confident about the bank's prospects.

[luxinvest]

Iraq is likely to abandon plans to sign up to $3 billion in short-term oil contracts, a U.S. diplomat said, putting in doubt deals that would give foreign oil firms their first major foothold in the country for decades, Missy Ryan reports for Reuters.


“It appears that on present form (the Iraqi government) probably won’t proceed with most of these or all of them,” Charles Ries, coordinator for Iraq’s economic transition at the U.S. embassy, told reporters in Baghdad.


“But I think that some of the companies are open to continued discussions even on relationship grounds, and some of the companies … don’t think it’s worth their time.”


Frustration over the sluggish pace of Iraq’s oil production is rising in the country and abroad as global prices soar. Much of Iraq starves for electricity and fuel as vast amounts of oil and gas sit untapped in the ground. Iraq’s oil industry needs a virtual overhaul to reach a level of production that could erase chronic fuel shortages in the country and rake in windfall profits to be had on the world market. The Iraqi government and more than two dozen oil companies are in the midst of drafting plans to begin the work. But the chances of success anytime soon are far from certain, Mark Kukis writes for Time.


Iran’s energy minister said his country was ready to offer technical services to Iraq in the fields of energy and electricity, expressing content with the current level of cooperation between the two neighboring countries, Voices of Iraq reported.


“Iranian experts, who acquired a good know-how in setting up power stations and extension of high-pressure lines, are ready to offer their experience to their Iraqi counterparts,” Pervez Fattah.


The Chinese firm, Shanghai, has started constructing a major thermal power plant in the southern Province of Wasit, Salah al-Rubaai reports for Azzaman.


Electricity Minister Kareem Waheed attended the laying down of the foundation stone for the plant, the largest ever project a foreign firm begins constructing in Iraq since the 2003 U.S. invasion.


Kareem said on completion the plant will generate 1320 megawatts of electricity.


He said under the $924 million contract the Chinese were to have the plant constructed in 48 months.


“It is a good initiative from a foreign firm to start implementing such a project in the country following the improvement in security.


“Hopefully this will encourage other firms to follow suit,” Waheed said.

[KaOzz]

Despite Investor Blues At Kingfisher-2 Result, Tullow Oil And Heritage Oil Shrug Off Disappointment To Focus On Busy Drilling Programme In Uganda


Given the nature of oil and gas exploration, the Tullow Oil/Heritage Oil drilling campaign in Uganda was bound to hit dust at some point. It’s a sign of just how successful this campaign has been to date – and how high some investor hopes are – that the well which triggered a slide in both companies’ share prices on Wednesday morning would count as a strike for many independent E&Ps. Shares in Tullow slipped 9.5 pence to 725 pence by lunch time while Heritage took a bigger hit, losing 29.75 pence, or 11 per cent, to stand at 227 pence. Both companies have seen their share prices slip since the highs of late June, when Tullow was riding high at 985 pence and Heritage at 350 pence.

The well in question is, of course, the much anticipated Kingfisher-2 well in Block 3A, drilled to follow up the Kingfisher-1 discovery of 2007. That well flowed 14,000 bpd despite failing to reach the primary deeper horizons under Lake Albert due to the limitations of the rig. This time round the 50/50 partners have brought in a higher rated rig to drill a deviated well down to almost 4,000 metres and penetrate those potentially high impact deep reservoirs.

The well results are now in, with the Kingfisher-2 well encountering three zones with an estimated 37 metres of net pay over a gross interval of 100 metres. The zones, which will be production tested later this month, equate to the Upper Miocene discoveries in the Kingfisher-1 well. But the primary deeper section proved disappointing, with no hydrocarbons present in the targeted basal sands. Even so, the deep section did find about 30 metres of reservoir overlain by a good potential shale top-seal, giving the partners some comfort that this could still be an important reservoir target for other prospects in the block. Tullow chief executive Aidan Heavey still hailed the well for proving up a “significant discovery” at Kingfisher even if the primary target was dry. It is telling that despite the market reaction, the strike rate in Uganda is still an impressive 100 per cent.

Heavey was able to offset news of the Kingfisher-2 well with results from the Kasamene-1 well drilled in the Butiaba region of Block 2, which the London-listed firm owns outright. Kasamene-1 encountered over 31 metres of net oil pay and at least 6 metres of net gas pay. Downhole pressure testing and sampling has confirmed the presence of dry gas and moveable 30-33 degree API oil with excellent reservoir quality. The well was drilled 15 km to the north-west of the Ngege-1 discovery (which was completed in June having encountered over five metres of net oil pay and nine metres of net gas pay with the potential for further upside updip), and is the second successful test of the Victoria Nile delta play fairway within the Lake Albert Rift Basin, de-risking several adjacent prospects in Blocks 1 and 2. The rig will now continue with the current nine-well programme in the Butiaba drilling campaign, with the Kigogole-1 well, some 10 km to the east, expected to spud in mid-August.

Heavey described the Kasamene well as the “most important result to date” in the Butiaba campaign, saying it was likely to play an important role in firming up reserves for the future development of these frontier lands. Tullow plans to bring a 4,000 barrel per day early production system onstream in the later half of 2009 but has longer term ambitions to build a pipeline to the coast so it can access lucrative export markets: this kind of investment means the company will need to find at least 400 million barrels of oil. The failure of the deep reservoirs at Kingfisher-2 will have tarnished investor perceptions of the prospectivity of the deep targets near and under Lake Albert that are expected to play a significant role in delivering that reserves threshold. Those perceptions are liable to change again, however, should the offshore drilling campaign planned for 2009, targeting large deep structures under Lake Albert, yield some early successes.

In the meantime, there is still plenty of newsflow to come from the onshore drilling campaign in Blocks 1 and 2. The Kasamene-1 result in Tullow’s Block 2 is also good news for Heritage, which owns Block 1. Here Heritage is planning to drill three prospects - Buffalo, Giraffe and Warthog –and it has taken heart from Tullow’s success at Kasamene, which lies just 2.5 km from Block 1. Heritage believes Kasamene was drilled on a structural trend that can be traced northwards from the Kasamene discovery through the Warthog, Giraffe and Buffalo prospects. Indeed, the company believes Warthog, which lies just 5.5 km north of Kasamene, could actually be part of the same structure as the Tullow discovery. If proven by the drillbit, this could be very exciting…investors won’t have too long to wait now.


http://www.oilbarrel.com/news/article.html?body=1&key=oilbar…" target="_blank" rel="nofollow ugc noopener">
http://www.oilbarrel.com/news/article.html?body=1&key=oilbar…

[luxinvest]

China lands Iraqi oil contract - but U.S. still gets its crude
Published by Dan Graeberon August 19, 2008in Uncategorized. 0 Comments
<!--[if gte mso 9]> Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 <![endif]--><!--[if gte mso 9]> <![endif]--> Iraq will sign a $1.2 billion oil service contract with China to replace a production-sharing deal agreed under Saddam Hussein, the Iraqi newspaper, an-Noor said, quoting oil minister Hussain al-Shahristani.


The oil minister is travelling to China at the end of this month to discuss the deal, which was orginally signed in 1997 between Iraq and the China National Petrolium Company, Ahmed Rasheed writes for Reuters.


“We have held talks with (the Chinese) for a year, and the terms of the deal were changed to a service contract. The Chinese have agreed on that, with a value of $1.2 billion,” Shahristani said.


The minister added Iraq is in the final stages of negotiations with a large global oil company on a joint venture to produce and export natural gas.


“Now we are in the final stages of talks with one of the biggest global companies to establish a joint venture, in which Iraq will hold the largest stake, to collect and produce the gas, to supply electric power and liquify the surplus and export it,” Shahristani told an-Noor.


Later in the interview, he repudiated a Saddam Hussein-era contract with Russia’s largest private oil company LUKOIL, saying the contract was “totally unfair.”


“Relating to the Russian contract, it was signed with the former regime for political reasons and scrapped by the former regime also for political reasons,” the minister said.


“It is a totally unfair contract,” he said.


Prime Minister Fuad Siniora will travel to Baghdad Wednesday for trade talks, becoming the first Lebanese leader to visit Iraq since the fall of Saddam Hussein, Agence France-Presse reported.


It follows a trip to Iraq on August 11 by Jordan’s King Abdullah II, the first by an Arab head of state since the 2003 US-led invasion which toppled Saddam.


“The discussions with Iraqi leaders will be on bilateral relations and particularly trade and oil,” the premier’s spokesman said on Monday, without confirming a specific date for the trip.


The move follows a similar energy agreement between Egypt and Lebanon for natural gas.


Norway’s DNO does not expect to produce any oil from its Tawke field in northern Iraq in August, after the Kurdistan Regional Government halted local output as part of a review of licensing and procedures, Perry Williams writes for Middle East Business Intelligence.


DNO, one of several independent oil companies working in Kurdistan, says its production of 11,191 barrels a day in July would be cut completely in August by KRG for its studies.


The firm says the KRG is reviewing the “licensing, compliances and uniformity of procedures” applied to small topping plant owners in the area, in order to better regulate the supply of crude oil and the quality of products.


The U.S. got more crude oil from Iraq than Alaska in June as imports from OPEC continued to top domestic production. A review of U.S. data shows that in 17 of 18 months dating to January 2007, crude-oil imports from the Organization of Petroleum Exporting Countries exceeded U.S. production levels.


The figures shine a spotlight on the main points of the long-overdue debate over energy policy in the world’s biggest oil consumer, Dow Jones reported.


Iraq needs around $400 billion over the next few years to rebuild its shattered infrastructure, Dow Jones reported, quoting Iraqi Finance Minister Bayan Jabor.


“We have conducted a scientific study which states that some $400 billion is needed to rebuild infrastructure,” Jabor told the state-run al-Iraqia satellite channel.


“Our problem is how to administer money to finance reconstruction projects,” he said.


Jabor said most of the oil-generated budget is being used to pay salaries for 4 million retired and still-in-service civil servants. Some $6 billion will be spent on food stuffs purchases to cover the food ration system the government is implementing.

[KaOzz]

Konferenz am 28. August:


Heritage Oil Limited (LSE: HOIL), an independent
upstream exploration and production company, will announce its interim results
for the six months ended 30 June 2008 on Thursday, 28 August 2008.
Mr. Paul Atherton, Chief Financial Officer, will be hosting an analyst
and investor conference call at 15:00 (British Summer Time) on 28 August 2008.

Dial-in number: [phone] (UK)
[phone] (Canada)
[phone] (US)
Passcode: 9631244

A replay of the call will be available for seven days:

Dial-in number: [phone] (UK)
[phone] (Canada/US)
Passcode: 9631244

[KaOzz]

Antwort auf Beitrag Nr.: 34.774.110 von KaOzz am 20.08.08 10:45:59

Is jemand dabei?

[luxinvest]

Antwort auf Beitrag Nr.: 34.785.299 von KaOzz am 20.08.08 22:25:06

Der jetzige Kursverlauf errinnert mich stark an dem von Pet...
Interim results

Danke für die Mitteilung

Mfg

[luxinvest]

Stuttgart 50000 im bid...nicht schlecht

[luxinvest]

Antwort auf Beitrag Nr.: 34.807.536 von luxinvest am 22.08.08 10:20:58

und dazu noch alles im grünen heut Morgen, London 7.89%
Erholung , das wäre gut mit hinsicht auf baldige news...

[luxinvest]

Heritage Oil says H1 average daily production 503 bpd, up 83 percent
LONDON (Thomson Financial) - Heritage Oil Ltd. (News) reported a 83 percent increase in its average daily production in the first half and a lower net loss for the period.

For the first half to end-June, the exploration and production company said its average daily production grew to 503 barrels per day (bpd) from 275 bpd last year, while its net loss narrowed 21 percent to $58.0 million from $73.2 million.

Heritage said its petroleum and natural gas revenues grew 480 percent to $2.9 million during the period from $0.5 million in the same period of last year.

It added the remainder of 2008 and the beginning of 2009 will be an exciting time in which it will test Kingfisher-2, embark on a multi-well drilling programme in Uganda and spud its first well in the Kurdistan Region of Iraq

Losses trimmed at Heritage Oil
Thu 28 Aug 2008

HOIL - Heritage Oil

Latest Prices
Name Price %
Heritage Oil 198.75p -0.62%

FTSE 250 9,272 +1.47%
FTSE 350 2,912 +1.34%
Oil & Gas Producers 7,785 -0.40%

LONDON (SHARECAST) - Oil exploration and production company Heritage Oil saw net losses pared as it ramped up production and benefited from the surge in oil prices.

Average daily production in the first half of 2008 increased by 80% to 503 barrels per day (bpd) from 275 bpd in the corresponding period of 2007.

The sales volume more than tripled to 458 bpd from 133 bpd a year earlier, while the average realised price per barrel jumped 78% to $34.9 from $19.6.

Revenue from petroleum and natural gas sales improved to $2.9m from $0.5m. Loss after tax narrowed to $58m from $73.2m.

Cash capital expenditure during the period was $60.3m, up from $40m a year earlier.

At the half-year stage the company’s net cash balance was $144.7m.

“'The remainder of 2008 and the beginning of 2009 will be an exciting time for Heritage as we test Kingfisher-2, embark on a multi-well drilling programme in Uganda and spud our first well in the Kurdistan Region of Iraq,” said chief executive officer Tony Buckingham.

“We believe that continued successful drilling in the Albert Basin in 2008 will prove up sufficient reserves for commercial development in Uganda,” Buckingham said

[KaOzz]

krasse Vola

Hab gerade leider wenig Zeit um meine Meinung hier zu posten. Die Aktie scheint in Fokus der Anleger gekommen zu sein!


Befasse mich gerade mal mit den Interim Results.

Grüße,
Stefan

[KaOzz]

gehts noch? Kurs bewegt sich trotz dieser News:

Heritage Oil announces record test results of 14,364 bopd for the Kingfisher-2 well in Uganda

CALGARY, Sept. 3 /CNW/ - Heritage Oil Limited (LSE: HOIL), an independent
upstream exploration and production company, announces successful tests of all
three reservoir intervals in the Kingfisher-2 well in Block 3A, Uganda.

Highlights

- Three reservoirs produced at a cumulative flow rate of 14,364 bopd.
Rates were constrained by surface test equipment
- Record test production from any well in Uganda
- Upgrade to Kingfisher potential oil reserves expected
- Rig to be moved to drill Kingfisher-3 in Block 3, Uganda, in
September 2008
- Multi-well drilling programme to commence in Block 1, Uganda, in
September 2008

Kingfisher-2, Block 3A, Uganda, Test Results

Three reservoirs with a cumulative vertical net pay of approximately
37 metres between 2,654 metres and 2,783 metres measured depth produced at a
cumulative flow rate of 14,364 bopd on test as follows:

Drill Stem Test Gross Measured Maximum Oil Quality Choke
Depth Interval Flow Rate
Thickness
(DST) (metres) (bopd) (API) (inches)

1 20.2 5,178 29.7 48/64th
2 26.5 4,798 30.5 64/64th
3 12.0 4,388 32.0 48/64th
----------------------------------
58.7 14,364

The higher rates recorded from all three test intervals were constrained
by the surface test equipment. It appears that these three zones are
equivalent to the same three intervals tested in the Kingfisher-1 well, which
flowed at a combined rate of 9,773 bopd. Pressure data recorded from the DST-1
and DST-2 intervals indicate that the two lowermost sands are possibly in
vertical communication and therefore could comprise the same reservoir. This
could potentially lead to higher oil volumes.
The oil is good quality, of light to medium gravity and sweet, with a low
gas-oil ratio and some associated wax. The reservoirs are highly permeable
sandstones, with an estimated permeability from DST-1 of 2,250 milliDarcies.
It is likely that there will be an upgrade to potential oil reserves
following drilling of the Kingfisher-2 well. Management of Heritage will look
to update their estimated volumes following full evaluation of the test data.
Prior to the drilling of Kingfisher-2, the gross contingent resources of
Kingfisher were independently evaluated by RPS Energy to have a most likely
volume of 118 million barrels.
The Nabors 221 rig will now move approximately three kilometres south of
Kingfisher-2, along the Lake Albert shoreline, to drill the Kingfisher-3
appraisal well, which will evaluate the southern portion of this field.

Block 1, Uganda, Drilling Programme

The first drilling programme in Block 1 is scheduled to commence this
month, with the drilling of the Warthog prospect. This is part of a three well
programme which also includes the Buffalo and Giraffe prospects. Exploration
risks in Block 1 have been significantly reduced due to the recent drilling
success in Block 2, very close to the Block 1 border. A structural trend,
characterised by high amplitude anomalies in the seismic data, can be traced
northwards from Tullow Oil Plc's Kasamene-1 discovery, just 2.5 kilometres
south of Block 1, through the Warthog, Giraffe and Buffalo prospects in
Block 1.

Tony Buckingham, Chief Executive Officer, commented:

"The cumulative flow rate of 14,364 bopd from the Kingfisher-2 well has
surpassed our expectations, indicating the outstanding potential of the
Kingfisher discovery. This is the third well in the Albert Basin to produce
over 12,000 bopd under test and the second in Block 3A. Heritage is now
embarking on its busiest and most exciting drilling schedule in Uganda, with a
total of four wells planned to be drilled in Block 3A and Block 1 during the
remainder of the year. This is an exciting time for Heritage, as we approach
the commercial threshold for the development of our reserves in Uganda which
will transform the Company."

Heritage is the Operator of Block 3A and Block 1 in Uganda with a 50%
equity interest in the licences with Tullow Oil Plc holding the remaining 50%
interest.

[KaOzz]

Sorry, wollte sagen:

Warum zum Geier bewegt sich der Kurs trotz solch fantastischer News nicht


Wieder nur Zauderer am Markt... Wofür war die Vola der letzten Tage gut, häh???

[KaOzz]

Naja, der Kurssprung hat sich in London wieder verflüchtigt...


Heritage Jumps After Record Test Results From Uganda Well

By Nicholas Comfort

Sept. 3 (Bloomberg) -- Heritage Oil Ltd., a U.K.-based oil and gas explorer, jumped in London trading after saying record test results from a Ugandan well may pave the way for reserve estimates to be upgraded.

Heritage surged as much as 14.75 pence, or 6.9 percent, to 229.75 pence, and traded at 220 pence as of 8:08 a.m. local time. Tullow Oil Plc, a 50 percent partner at the Kingfisher-2 well, rose as much as 1.2 percent and was last at 751 pence.

Test results from three reservoirs produced a combined 14,364 barrels of oil a day, Heritage said in a statement distributed by the Regulatory News Service. Heritage's reserves at the site were previously estimated at 118 million barrels, according to Jersey, Channel Islands-based company

Heritage surged 13 percent at the beginning of the week after the Daily Telegraph said wells in the Albert Basin near the Congo border would show ``significant'' results after years of conflict prevented substantial exploration.

The company will now move its local drilling rig about 3 kilometers south along the lake to the Kingfisher-3 appraisal well.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at [e-mail]
Last Updated: September 3, 2008 03:23 EDT

[KaOzz]

Zumnindest Pari wäre 2,70 EUR

[luxinvest]

Kann mich nicht beklagen, heut über 20% in Toronto.
Wie soll sich bei solch Volumen was bewegen zumalls wo Kleinanleger zur Gewinnmitnahme tendieren.

Alles eine Frage der Zeit

Wir hatten ja schon ein tollen Vorgeschmack...

Mfg

[stumpfser]

Kann mir jemanden erklären, warum so ein Preisunterschied zwischen TSX und Frankfurt (6,05 CAD= 3,93518 € und 2,8 €)
heist es nicht, dass im Frankfurt kaufen und im Canada verkaufen macht c.a. 40%, oder dass ist asolüt verschiedene Aktien bzw. Firma

[KaOzz]

In TSX sind executable shares gelistet.

In FSX und LSX sind ordinary Shares gelistet.

[KaOzz]

Antwort auf Beitrag Nr.: 34.948.835 von KaOzz am 02.09.08 16:42:51

Okay, von daher wehte der Wind, bezüglich der Vola in den letzten Tagen

Heritage Oil to reveal Uganda find

By David Litterick
Last Updated: 10:14pm BST 31/08/2008

Heritage Oil will this week announce that it has made a significant oil discovery in Uganda that is expected to have a dramatic effect on the FTSE 250 group's reserves.

The oil group will reveal test results from exploration wells in the Albert Basin near Uganda's border with Congo. Although the area has long been suspected to be a significant source of oil, years of conflict in the region have prevented substantial exploration activity.
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Heritage has already revealed results from its Kingfisher 1 wells in the area, which saw flows of 10,000 barrels of oil a day. However, the results this week from the adjacent Kingfisher 2 wells are expected to be up to 50pc better, confirming what could prove a transformational discovery for the group.

The company plans to begin drilling wells at Kingfisher 3 next month.

The total acreage of the licence is around 12,000 sq km - the equivalent of 55 North Sea blocks.
# More on oil

Heritage was the first company to obtain exploration licences in Uganda in 1997. It farmed out 50pc to Energy Africa in 2001 before the company was bought in 2004 by Tullow Oil, which is also expected to benefit from the find.

If the fields do prove commercial, the next stage would be to develop a 1,250km pipeline to help export the oil from Uganda, which has limited domestic demand. Full-scale operations could be up and running by 2012.

Heritage is already producing oil from fields in Russia and Oman but analysts believe the discovery could lead to upgrades to reserves in the Albert Basin to hundreds of millions of barrels of oil, potentially doing for Heritage what the discovery of oil in India did for Cairn Energy.

Heritage plans to develop assets in the Kurdistan region of Iraq next year.

[KaOzz]

I Love It


Director Shareholdings


TORONTO, Sept. 8 /CNW/ - The Company was notified on 5 September 2008:

- Michael Hibberd, Chairman, acquired 50,000 Heritage ordinary shares
of no par value each ("shares") on the London Stock Exchange at a
price of 215p per share through MJH Services Inc., a company which is
wholly-owned by Mr Hibberd. His notifiable shareholding in the
Company following this transaction is 50,000 shares representing
0.02% of the Company's total voting rights outstanding and 1,150,000
options to acquire shares previously granted under the Company's 2008
Replacement Share Option Scheme; and

- Gregory Turnbull, Director, acquired 50,000 Heritage shares of no par
value each ("shares") on the London Stock Exchange at a price of 212p
per share. His notifiable shareholding in the Company following this
transaction is 350,070 shares representing 0.14% of the Company's
total voting rights outstanding and 600,000 options to acquire shares
previously granted under the Company's 2008 Replacement Share Option
Scheme.

This notification is made in accordance with DR 3.1.4R (1).

[KaOzz]

Antwort auf Beitrag Nr.: 34.967.525 von luxinvest am 03.09.08 19:30:47

Wenn bei Produktionsstart dann richtig Schotter in die Kassen fließt und der Markt endlich aus seiner knickrigen, illiquiden Phase raus ist, und wieder ne Öl-Euphorie startet, würde ich mal sagen, dass HOIL anständige Kurszeichnungen verzeichnen wird.

Es sind ca 250.000 executable shares (LSE & TSX)
und ungefähr 5 Mio ordinary shares (LSE & FSX)

[luxinvest]

Antwort auf Beitrag Nr.: 35.062.446 von KaOzz am 11.09.08 15:14:48

Heritage Oil in 'highly preliminary' talks over sale of assets
Reported 17 hours ago by Canadian Business Magazine

'These discussions may or may not ultimately lead to an offer for the company,' Heritage said in a statement.Its shares were untraded Thursday upon resumption at $5.05 on the Toronto Stock Exchange. ...

[luxinvest]

For Immediate Release: Tuesday, 30 September 2008







Heritage Oil Limited ("Heritage" or the "Company")







HERITAGE OIL TERMINATES THIRD PARTY DISCUSSIONS




Heritage Oil Limited, an independent upstream exploration and production company, announces that preliminary discussions regarding a possible disposal of certain assets have been terminated.




On 18 September 2008, Heritage announced that having received an unsolicited approach it was in very early preliminary discussions with a third party regarding a possible disposal of certain of its assets. The Company has now terminated all discussions with the third party and its advisers.




The Company believes that the best way to create shareholder value is through active, high-impact drilling programmes, like that which has just commenced in Uganda (announced earlier today) with the potential to transform Heritage.

[KaOzz]

Antwort auf Beitrag Nr.: 35.342.355 von luxinvest am 30.09.08 09:54:21

Alter Insider

Sie wollen die assets nicht verkloppen!

Hatte übrigens letzte Woche - wohl versehentlich - ne Mail von Paul Atherton gekriegt, in der es um eine alte Nachricht von 2006 um einen Rechssstreit bezüglich des offenbar unfreiwilligen Ausscheidens des eheamlaigen CEOs Gulbenkian geht...
Adressiert war die Mail an ne internationale Law Firm/Filiale Schweiz


So, bald stehen die nächsten Zapfdaten aus Block 1 an. Wenn die Drillings gut sind und die Studien über die Produktionskapazitäten abgeschlossen sind, stehen die Planung für Förderungsmöglichkeiten an, oder?

Beste Grüße

[KaOzz]

Heritage Oil ends talks on asset disposal

LONDON, Sept 30 (Reuters) - UK-based oil explorer Heritage Oil (HOIL.L: Quote, Profile, Research, Stock Buzz) said on Tuesday it had ended talks on the disposal of certain assets, which could have led to a sale of the company. The company, which has a market capitalisation of about $900 million, announced on Sept. 18 it was in preliminary talks about the sale of assets, sending its shares up 17.7 percent to 240 pence.

They had drifted back to close at 210 pence on Monday as analysts played down the approach.

A positive drilling update, also on Tuesday, provided support and the company was up 0.5 percent at 211 pence at 0806 GMT.

Heritage's main assets are its licences in Uganda, according to analysts, where project partner Tullow Oil (TLW.L: Quote, Profile, Research, Stock Buzz) has said the basin around Lake Albert could contain over 1 billion barrels of oil.

Analyst Nathan Piper at RBC Capital Market said he had not taken the approach that seriously and, with the company's asset still at an early stage, was not surprised the talks had failed.

"Heritage is a good exploration company," he said. "In one, two or three years' time, when we see how much (oil) is there, a take out would be more expected," he said, adding that a bid was likely to come from Asia.

The company declined to comment on who was behind the approach, but it said in a statement that it believed the best way to create shareholder value was through its active, high-impact drilling programmes. In the drilling update, Heritage said its multi-well exploration programme and appraisal wells had the potential to achieve the commercial threshold for its reserves in Uganda.

"We have commenced our busiest and most exciting drilling programme in Uganda since Heritage commenced operations in the Albert Basin in 1997," Chief Executive Tony Buckingham said. (Reporting by Paul Sandle; editing by Simon Jessop)

###

Obwohl es natürlich auch irgendwo ungewöhnlich ist, dass sie das "Risiko" auf sich nehmen, ein projekt selbst zu entwickeln... da sie aber keine genauen Details über ihre Reserven angegeben haben, lässt sich schlecht sagen, wieviel oder wie wenig, sie für diese certain assets gekriegt hätten (um was auch immer es sich bei en verhandlungen gehandelt haben mag)

[luxinvest]

Was ist denn das für n'en chart, in Frankfurt bid 2.48 und der Kurs ist bei 1.75 da stand wohl der Amtsvollstrecker vor jener Tür.
Naja...

[luxinvest]

Ach ja KaOzz, ich sehe hier immer paraleelen zu Pet, ist das eine Einbildung
oder Zufall dass der Kursverlauf immer ein ähnlicher ist, obwohl Zufälle gibt es ja keine

Mfg aus Luxemburg

[luxinvest]

Moien,


London heut morgen 15%
mal sehen wie es sich weiterverläuft,
frühere Mustern nach, wäre bald ne News anfällig.

Doch Abschliessung des laufenden Projektes in Uganda kann noch nicht die Rede sein.



Mfg

[luxinvest]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[luxinvest]

LONDON, Oct 9 (Reuters) - Iraq will next week provide foreign oil and gas companies with details of the contracts under which it hopes the companies will help boost the country's oil output by 1.5 million barrels per day.

A delegation led by Iraq's oil minister Hussain al-Shahristani will present prequalified companies at a meeting in London on Monday with geological data on the fields, as well as details on the financial terms of the contracts and the process for applying.

Bill Cline of consultants Gaffney Cline, which is helping organise the roadshow, said that although some companies have been working with Iraq on studies of the fields for some years, the presentation will make sure all compete on an even basis.

Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) and BP (BP.L: Quote, Profile, Research, Stock Buzz) were among the companies that helped appraise the fields.

The contracts on offer are service contracts, which mean the winners will be paid a flat fee to produce the oil rather than receive an equity stake in the fields or any share of profits.

Forty-one companies, including most of the big international oil companies, have qualified to bid.

Cline said he expected companies to have to take away the information they receive and study it closely before deciding whether to bid.

Oil executives agreed that no decisions were likely to be made on Monday.

"There won't be any negotiation," a source at one of the oil companies that will attend said.

While the improved security climate in Iraq is easing one main deterrent to investment in Iraq, oil companies generally do not like service contracts as these cap their gains.

However, Muhammad-Ali Zainy, senior energy economist at the Centre for Global Energy Studies, said the contracts will attract strong interest.

"I think there is going to be some severe competition," he said.

"There is nothing wrong with the format of the contracts. There are reasonable. They are 20 years long".

The oil fields open for long-tern development contracts are Rumaila, Kirkuk, Zubair, West Qurna Phase 1, Bai Hassan and the Maysan fields. Maysan comprises three fields, Bazargan, Abu Gharab and Fakka.

Two gas fields, Akkas and Mansuriyah, are also open.

Iraq said it wants to sign the deals by mid-2009.

A member of the Parliament and the Parliament Oil and Gas Committee announced that a draft law that both the Kurdistan Regional Government and the central government agreed upon will be submitted to Parliament for discussion and final approval, Aiyob Mawloodi reports for The Kurdish Globe. Bayazid Hassan, a Kurdish MP on the Kurdistan Alliance List, told a local Kurdish news agency that the Iraqi Minister of Oil, Hussein al-Shahristani, has promised to send a copy of the draft to Parliament.

The oil and gas chief of Iraqi Kurdistan says the region will develop its natural gas resources to provide electricity to its residents and a planned industrial center, and in the future “export to the rest of Iraq,”Ben Lando reports for United Press International. “The aim is to replicate some similar projects to make sure that in the end we will end shortages and hopefully export to the rest of Iraq,” KRG Minister of Natural Resources Ashti Hawrami told United Press International.

Iraqis both within and outside the Kurdistan Regional Government’s three northern provinces suffer steady shortfalls of electricity. Baghdad and the KRG have been at odds over the rights to sign oil and gas contracts in Iraqi Kurdistan. While the Dana-Crescent (Dana is partly owned by Crescent) deal is a service contract, the KRG has signed two dozen controversial production-sharing contracts with international oil firms exploring for and developing oil and gas, which the national oil minister has called illegal. The dispute has delayed passage of a new oil law and legislation governing revenue, the Oil Ministry and the state oil company said.

Kurdistan Region President Massoud Barzani will head a delegation to Baghdad in the coming days to meet with top Iraqi officials, said Iraqi President Jalal Talabani on Monday after a meeting with Barzani, The Kurdish Globe reports. “The meeting discussed the [Kurdistan] Region President’s visit to Baghdad for negotiations on finding solutions to the current problems,” said President Talabani at the conference. Main topics will be the oil issue, security conditions, and Iraq’s relations with its neighbors. A member of the KDP politburo, Mahmoud Muhammad, told the Globe that the suspended problems between Erbil and Baghdad are complicated and interrelated; thus, solving them is not an easy task.

Oil Search says it started drilling the Shakal-1 prospect, which is part of the production sharing contract it and partners Petoil have with the Kurdistan Regional Government. “No further releases will be made unless there is a material or share price sensitive outcome,” the company said in a statement.

Iraq’s pipeline plans include expanding the northern Kirkuk-Ceyhan oil pipeline, rework the pipeline to the Banias port on Syria’s Mediterranean coast and hook up to the Arab Gas Pipeline via Syria, Oil Minister Hussain al-Shahristani told an energy conference in Turkey, Platts reports.

[KaOzz]

Die Öl-Politik tendiert offenbar zurzeit mehr in Richtung der kleinen Firmen.

[luxinvest]

Antwort auf Beitrag Nr.: 35.552.492 von KaOzz am 13.10.08 18:55:04

strategische Wirtschaftspolitik

[KaOzz]

Antwort auf Beitrag Nr.: 35.554.040 von luxinvest am 13.10.08 20:37:50

Der is klasse!

strategische Wirtschaftspolitik (seitens der Manager und Lobbyisten)

[luxinvest]

Antwort auf Beitrag Nr.: 35.554.110 von KaOzz am 13.10.08 20:43:17

Wohl n'en Freigeistler

willkommen mein Freund

[KaOzz]

Antwort auf Beitrag Nr.: 35.554.192 von luxinvest am 13.10.08 20:48:49

Ja, Du sagst es!

Hat sich bei mir in letzter Zeit deutlich verschärft
Jetzt verstehe ich manche Kommentare von Dir deutlich besser.

Hab sozusagen einen Quantensprung hinter mir.

[luxinvest]

Also, willkommen im Recyclingcenter und viel Erfolg bei der Papiersammlung


Mfg

wir hören schon bestimmt bald von einander

[KaOzz]

Antwort auf Beitrag Nr.: 35.558.605 von luxinvest am 14.10.08 10:00:11

[luxinvest]

Iraq Starts Countdown for Contract Awards
Copyright © 2008 Energy Intelligence Group, Inc. (click for details)
Tuesday, October 14, 2008
Display Printer Friendly Page


Iraq's oil ministry on Monday launched a competition among 35 international oil companies for six of Iraq's most prized oil fields and two undeveloped gas fields under 20-year service contracts, which Iraqi Oil Minister Hussein al-Shahristani said he expects to be "finalized and presented to the Iraqi cabinet for ratification before the end of June."

Prequalified companies for Iraq's first bid round, including all the majors as well as many national oil companies, will compete based on fees they will charge Iraq for helping to stop the decline at producing fields and add incremental output as well on production targets they will seek to achieve, Iraqi officials said following a meeting with oil company executives Monday to outline the bidding process and contractual terms (IOD Oct.9,p1).

Tender protocols and data packages will be made available to the participating companies by the end of the month, one ministry official told International Oil Daily following the one-day briefing. Following that they will be required to pay a participation fee for each field they intend to bid on ranging between $250,000 for the two non-producing gas fields on offer and $500,000 for the giant producing fields.

According to the timeline announced, the ministry will hold contractual and technical workshops in early 2009 and will receive comments on the draft contract from the companies up to late March. The final tender protocol will then be sent to all bidding companies, which will be expected to submit bids between May and June 2009, ahead of the awards.

The 35 companies invited to the London road show include 34 firms that had been announced earlier this year in addition to Turkey's TPAO, which was added later after Premier Oil was dropped from the initial list after it failed to satisfy the technical criteria for prequalification (IOD Apr.15,p1).

Companies bidding for the six oil fields of Rumaila, West Qurna-phase 1, Zubair, Missan, Kirkuk and Bai Hassan will be classified in three categories, the head of the ministry's petroleum licensing and contracting department, Natiq al-Bayati, announced at a press briefing. One category of companies will be allowed to bid on all oil fields save the two giants of Rumaila and Kirkuk, which will be reserved for a second category of companies with operations globally producing more than 500,000 barrels of oil equivalent per day. A third category includes companies that do not qualify to operate fields but will be able to participate in consortiums led by operators. Consortiums will be limited to three bids only. A fourth category defines companies qualified as gas operators.

Iraqi officials said companies awarded contracts would be expected to sign the final agreement within three weeks of the award in order for the council of ministers to ratify the final deal. All would be expected to open offices in Iraq within 90 days of the effective contract date. "Current conditions in Iraq do not represent a force majeure condition," al-Bayati said.

Foreign companies will be expected to pay corporate income tax at a rate of 35% on net taxable profit, the Iraqi official said.

Under the service contract, companies will pay a signature bonus of $10 million plus a sliding $50 for each barrel above current baseline production depending on each field's expected plateau. The remuneration fees, which will be payable in cash or oil, will be split into a maintenance fee and an incremental fee. Both fees are part of the biddable parameters. The nonproducing gas fields' biddable parameters are a fee for each million cubic feet to be produced and production target rates.

Remuneration under the service fee will be deferred until the incremental production comes on line for the oil fields, which is expected to be within 24 months of the effective contract date or once incremental production hits 10% above baseline production. Remuneration will start on first production for the gas fields.

The service contract will be signed between a foreign company or a consortium of companies and a state partner based on a 51% majority stake for the Iraqi entity, with current regional operators state North Oil Co., South Oil Co. and Missan Oil Co. acting as the client. The regional operators will create a field operating directorate for each field within 30 days of the effective date of the contract, which will take control of the operations. A joint management committee will ensure supervision and control of the field operations.

Iraq's oil ministry is keen to sign the first service contracts to send a message that production sharing contracts, a taboo in postwar nationalist Iraq, are not the only game in town. Al-Shahristani said the model service contract will be made public once it's finalized.

Ruba Husari, London

[luxinvest]

U.S. report: old Iraq southern oil pipelines could break
Published by Iraq Oil Reporton October 15, 2008in Uncategorized. 0 Comments
Plus:
*KRG denies DNO export permit rumor
*Kirkuk gas pipeline blast not affecting oil exports
*Details on the Iraq oil and gas bidding process
*Bush cuts Iraq oil grab ban from defense bill
*Alive in Baghdad: A fuel crisis?
*Top McCain official wanted Saddam off rogue list to secure oil deal
*Iraq Press Roundup
*Much, much more

Pipelines vital to Iraq’s oil industry are in such poor condition they could rupture at any time, choking off the supply of oil from the region and devastating the country’s economy, Daniel Dombey and Carola Hoyos report for the Financial Times. A previously undisclosed notification to the US Congress says the ageing underwater pipelines, which link storage facilities near Basra to offshore tanker fueling terminals, are in urgent need of back-up or repair.

The Iraqi Kurdish region denies reports that Norwegian firm DNO received the OK to begin exporting oil, prompting speculation of a broad political deal, United Press International’s Ben Lando reports. The Tuesday report pushed DNO shares up 54 percent, though the company says no permit has been granted. Export rights also hinge on political progress. “When we are ready to export, we will export,” said the Kurdistan Regional Government’s Minister of Natural Resources Ashti Hawrami. He refused to respond to the claims, giving only basic details on how the KRG does oil business. He said the way contracts work, the operator must be technically capable of entering Iraq’s export routes — in this case, tying into the northern pipeline to Turkey — and then apply for a permit.

Oil exports not affected by Kirkuk gas pipeline explosion, the cause of which is unknown, Reuters reports.

For more on the Iraq Oil Ministry’s bid round, announced Monday,International Oil Daily’s Ruba Husari breaks it down:

- Payment: cash or oil. “Remuneration under the service fee will be deferred until the incremental production comes on line for the oil fields, which is expected to be within 24 months of the effective contract date or once incremental production hits 10 percent above baseline production. Remuneration will start on first production for the gas fields.”
- “Tender protocols and data packages will be made available to the participating companies by the end of the month”
- “They will be required to pay a participation fee for each field they intend to bid on ranging between $250,000 for the two non-producing gas fields on offer and $500,000 for the giant producing fields.”
- Ministry conducts bidding workshops early next year; questions and comments through March
- Bids submitted May-June
- Rumaila and Kirkuk fields only open to companies pumping more than 500,000 barrels per day now
- West Qurna-1, Zubair, Missan, Bai Hassan open to all pre-qualified
- Smaller companies allowed to participate in consortiums with proper operators; limit of three bids per consortium
- Winners have three weeks to sign deal, which will be OK’d by council of ministers; 90 days to open Iraq office; operations directorate established in 30 days from deal
- Contract signed with North, South or Missan Oil Co’s., who will get 51 percent stake
- Income tax at 35 percent rate
- Signing bonus: $10M and fee per barrel above baseline production

President Bush has struck from the new defense authorization bill a section banning the U.S. from controlling Iraq’s oil, The New York Times’ Charlie Savage reports.

Alive in Baghdad: Is there a fuel crisis?


The Oil Department in province of Anbar had disbursed cards for the petroleum products distribution to families in ready for winter, as precautionary plan to avoid the scarcity of petroleum products when demands increase at low temperatures during winter, Iraq Directory reports.

John McCain’s presidential transition chief worked with two pro-Saddam Hussein lobbyists to ease sanctions and attempted to buy and sell Iraqi oil, Murray Wass writes in Alternet.org. William Timmons and the two lobbyists — who have been convicted or pleaded guilty to federal charges – carried out their effort in 1992, and could have earned $45 million if it were blocked as Saddam was considered an enemy of the United States.

The chief strategist and co-founder of a pro-Iraq war organization scheduled to endorse Republican Bob Schaffer in his run for the U.S. Senate on Wednesday was paid to promote investment in the Kurdistan region of Iraq at the same time Schaffer had a hand in securing an oil contract in Kurdistan—despite warnings the deal could prolong the war, Ernest Luning reports for The Colorado Independent.

Gulf Keystone Petroleum Ltd. said it continues to make rapid progress on both blocks in the Kurdistan region of Iraq, and added that preparations for spudding the first well in the Shaikan block are advanced, Thomson Financial reports. A drilling rig is expected to arrive in the country before the end of this year with a target date for the commencement of drilling in early 2009, the company said.

[luxinvest]

10/20/08

Barzani: the formation of 5 committees to discuss outstanding issues between Baghdad and Kurdistan

Arbil (Iba) .. returned Kurdistan regional president Massoud Barzani to Arbil after the conclusion of talks with Iraqi government officials and a number of political leaders of all the Iraqi parliament.

Barzani said at a news conference after his arrival before noon today, Monday, to Arbil, said to the leaders of political blocs and the central government formed (5) committees to discuss a number of important outstanding issues between Kurdistan and the Government Center also discussed the security terms of the agreement to be signed between Iraq and the United States .

Barzani described his meeting with a delegation of Turkish Foreign positive and constructive and was a prelude to hold further meetings in the near future.

Barzani said that the talks also included some other important issues, particularly with regard to the economy of Kurdistan region and the issue of oil contracts, without specifying what has been reached agreements at hand.

http://translate.google.com/translat...-8&sl=ar&tl=en

[luxinvest]

10/20/08

For Iraq, falling oil prices could have silver lining

The federal government may be forced to rethink its budget, but with so much at stake, Shiites, Sunnis and Kurds may be compelled to reach an agreement on stalled oil legislation.

BAGHDAD -- Falling oil prices will cut into Iraq's budget next year, but they could serve as a wake-up call for the government.

They could prod Kurds and Arabs to reach an agreement on sensitive issues such as sharing oil revenue after nearly two years of deadlock. They could also become a factor in national elections planned for late 2009, if the population grows angrier at Iraq's ruling parties.

Nearly every week, in their Friday sermons, Shiite Muslim clerics denounce the government for failing to improve electricity and water supply. A failure to spend more on providing services for citizens will only make things harder for the Iraqi government.

"The drop in oil prices would directly reflect on services," said Ali Adeeb, a lawmaker with Prime Minister Nouri Maliki's Islamic Dawa Party. A lack of improvement could bolster new parties competing for parliament seats next year.


Cont..

http://www.latimes.com/news/nationwo...tory?track=rss

[luxinvest]

Heritage Oil makes oil discovery at Warthog-1 well in Block 1, Uganda
Last Updated: 21-October-2008 07:37:30



LONDON (Thomson Financial) - Heritage Oil Ltd., an independent upstream exploration and production company, said it has made a "significant" oil discovery with Warthog-1, the first exploration well it drilled in Block 1, Uganda.

The company said the Warthog-1 discovery has a gross hydrocarbon-bearing interval of about 150 metres with 46 metres of net hydrocarbon pay. There is also further potential for liquid hydrocarbons in the overlying reservoir section.

Heritage Oil said the drilling rig will now move to the drilling location for Buffalo-1, where drilling operations will commence in mid-November.

Kingfisher-3, which was spudded on Sept. 26, is drilling ahead at 1,957 metres, it said. Heritage said it plans to drill Kingfisher-3 and sidetrack Kingfisher-3A to anticipated depths of about 3,270 metres and 2,860 metres respectively. The wells are expected to be completed in Feb. 2009.

[e-mail] alo/ms1 COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News

[luxinvest]

AP 26 Oct 2008: Iraq's Cabinet sends hydrocarbon law to parliament:
BAGHDAD (AP) - A senior lawmaker says Iraq's parliament has received a draft hydrocarbons law. Abdul-Hadi al-Hassani, deputy chairman of the parliamentary committee on oil, gas and natural resources, says the panel is reviewing the bill to prepare it for the legislature.
http://iraqog.com/page1.cfm?ser=1473

[KaOzz]

News Flood 2day

1.a Beginn der Bohrungen auf Warthog 1/Block 1
- Borhtiefe 1000m
- soll innerhalb eines Monats fertig sein

1.b Beginn der Bohrungen auf Kingfisher 3 und Sidetrack 3a/ Block 3A
- Borhtiefe 3270m/2860m
- vier, bzw. fünf Monate Dauer angesetzt#

Upcoming Exploration Activity in Uganda

Country Block Prospect Interest Spud Date
Uganda Block 1 Buffalo 50% Q4 2008
Uganda Block 1 Giraffe 50% Q4 2008

[KaOzz]

Antwort auf Beitrag Nr.: 35.763.958 von KaOzz am 30.10.08 14:37:07

Bitte Posting 94 vernachlässigen

sind ja die News von 30.09.08

Tja, hatte ich mir damals nicht angesehen und deshalb kam sie mir nicht bekannt vor

[KaOzz]

Aber dafür gibts das hier:

2. Vertrag über Bereitstellung einer Bohranlage für den Miran-Block/Kurdistan
- Bohrungen sollen vor Ende 2008 beginnen
- Potential für Multi-Milliarden STOIP

[luxinvest]

Heritage Oil gives contract to supply rig
Heritage Oil Limited has announced that it has contracted Great Wall Drilling Company Limited to supply a rig to drill the Miran West 1 exploration well in the Kurdistan region of Iraq.

Heritage said in a statement that it has entered into an agreement with Great Wall Drilling Company Limited to use the GW Rig 10. It is planned that the rig will drill to an anticipated depth of over 3,000 meters and targets the three principal reservoirs known from the immediate area to be the most productive.

The Miran license contains two large structures, Miran west and Miran east that have been mapped from the 332 kilometers of excellent quality seismic data acquired by Heritage between April and June 2008. These two very large anticlines have the potential to contain billions of barrels of oil.

Mr Tony Buckingham CEO of Heritage said that “The Miran work program has been accelerated following the interpretation of the seismic acquired in the second quarter of 2008

[weierHai]

Antwort auf Beitrag Nr.: 35.866.818 von luxinvest am 07.11.08 10:27:32

Hallo zusammen,

trotz des extrem negativen Marktumfeldes und fallenden Ölpreises hält sich unser Ölexplorer im aktuellen Marktumfeld stabil. Die Nachrichten der beiden letzten Wochen waren hier nicht ganz unerheblich. Ich denke die Substanz, die in dieser Perle steckt, wird früher oder später erkannt werden. Kann nur jedem Abraten diesen Wert zu verkaufen, bin von der Werthaltigkeit dieser Aktie überzeugt. Das Management, die aktuelle Casliquidität sowie die anstehenden Ölförderungen verbunden mit den tollen Bohrergebnissen in Uganda lassen keine Zweifel an diesem langfristigen Investment. Auch die Tatsache, daß das Ölexplorationsportfolio weltweit gestreut ist, vermindert eventuelle "Totalausfälle" in Krisenregionen. In folgenden Ländern ist Heritage tätig: Uganda, Oman, Mali, Malta, Pakistan Irak und Rußland. In Oman oder Mali bin mir im moment nicht ganz sicher wird ab Anfang Dezember gefördert. In Rußland wird schon gefördert. Die nächsten wichtigen Schritte sind aus Uganda zu erwarten, lt. der Nachrichtenlage sollte dort auch ab dem ersten Quartal eine Förderung möglcih sein.

Das größte Potential steckt jedoch im Irak!!! Dort sollen auch noch dieses Jahr Bohrungen in der REgion Kirkuk durchgeführt werden ( hab dies jetzt frei aus dem Kopf geschrieben, so wie ich es in Erinnerung hatte)
also auf jeden Fall dabeibleiben und die aktuelle Finanzkrise vorbeizieehn lassen

der weiße Hai

[Akkiman]

Antwort auf Beitrag Nr.: 36.024.668 von weierHai am 20.11.08 23:28:57

Ja, ganz meine Meinung. Ich hoffe nur dass der Krieg im Kongo nicht auf Uganda übergreift

[KaOzz]

Heritage Oil Announces a Significant New Oil Discovery With the Buffalo-1 Exploration Well in Block 1, Uganda

Heritage Oil Limited (LSE:HOIL), an independent upstream exploration and production company, announces a significant new oil discovery with the Buffalo-1 exploration well in Block 1, Uganda. The Buffalo discovery is considered by management to have the potential to exceed, subject to further successful drilling, the discoveries in the Kingfisher field.

Highlights

- The Buffalo-1 discovery has a gross hydrocarbon-bearing interval of approximately 123 metres, with approximately 43 metres of net hydrocarbon pay

- No oil-water contact was encountered, indicating the gross oil column could be significantly greater than that seen in the well

- The Buffalo discovery has the potential to be the largest field in Uganda

- The rig will now move to the drilling location for Giraffe-1

- Drilling operations at Giraffe-1 are expected to commence within two weeks

Buffalo Discovery - Block 1, Uganda

The Buffalo-1 exploration well was drilled, approximately 500 metres from the crest of the structure, to a total depth of 637 metres and was successfully logged. The well encountered a gross hydrocarbon-bearing interval of approximately 123 metres with net hydrocarbon pay of approximately 43 metres. Wireline logging and formation pressure measurements indicate 28 metres of net oil pay in the principal oil-bearing reservoir section, overlain by 15 metres of additional net hydrocarbon pay containing gas. Downhole pressure testing and sampling has confirmed the presence of moveable oil that has been recovered to surface, and log interpretation indicates that reservoir quality in all pay zones appears to be excellent. The Buffalo-1 well is now being suspended as a potential future production well.

The gross oil and gas columns seen in the well are 75 metres and 48 metres respectively and there is potential for the gross oil column of the accumulation to be significantly larger than reported because no oil-water contact was encountered in the well. Management believe that Buffalo is the leading discovery in Block 1 and the Butiaba area to date. Based on seismic interpretation, further exploration and appraisal drilling could prove up a very substantial accumulation of oil, giving Buffalo the potential to be the largest oil field in Uganda.

There are many other prospects mapped within Block 1 from over 600 kilometres of seismic data acquired in the licence during the past 18 months. All are characterised by similarly encouraging seismic amplitude anomalies as seen over the Buffalo and Warthog prospects, and all represent further prospects and leads which constitute additional multiple drilling targets within the block.

The rig will now move to the Giraffe-1 location to drill the third exploration well in the current drilling campaign. It is anticipated that drilling will commence within two weeks and the well is scheduled to take approximately three weeks to complete.

Tony Buckingham, Chief Executive Officer, commented:

"Buffalo is another major discovery and continues the 100% success rate in the Albert Basin in Uganda over the last three years with all 17 wells drilled finding hydrocarbons. The 28 metres of net oil pay in good quality reservoir and the absence of an oil water contact in the well, gives management confidence in the potential of the very large Buffalo structure. Our multi-well exploration programme continues to produce excellent results and we are confident of reaching the commercial threshold for development."

Heritage is the Operator of Block 3A and Block 1 in Uganda with a 50% equity interest in the licences with Tullow Oil Plc holding the remaining 50% interest.

[luxinvest]

Antwort auf Beitrag Nr.: 36.215.427 von KaOzz am 16.12.08 17:00:19

2009 wird ein fest.

Heritage starts drilling in Iraq
Mon 22 Dec 2008

HOIL - Heritage Oil

LONDON (SHARECAST) - Oil explorer Heritage Oil, which has recently enjoyed a string of successful drillings in Uganda, has drilled its first exploration well in the Miran licence in Iraq.

The exploration well will target three proven reservoir formations in the region and is expected to take three months to drill and complete.

“The Miran block is highly prospective containing two anticlines that have the potential to contain billions of barrels of oil from multiple potential reservoir targets, continuing an exciting high impact exploration programme across our portfolio,” said Tony Buckingham, Heritage’s chief executive officer

Schöne Weihnachten

[KaOzz]

Antwort auf Beitrag Nr.: 36.250.019 von luxinvest am 22.12.08 11:02:39

Hoffen wir, dass die ersten Bohrergebnisse ins Schwarze treffen und der Kurs vernünftig anzieht!

[luxinvest]

Huge oil well discovered in Amuru district
Monday, 22nd December, 2008 E-mail article Print article

By Ibrahim Kasita

A HUGE oil well has been discovered in Murchison Falls National Park in Amuru district. Tullow Oil and Heritage Oil, the firms exploring for oil and gas in Albertine Graben, said the well “was potentially the largest in the Butiaba area to date.”

“The discovery of another material oil field at Buffalo in the highly-prospective Victoria Nile Delta play has maintained our 100% success record in the Lake Albert rift basin,” Aidan Heavey, the Tullow chief executive officer, said in a statement.

“With many prospects still to drill in the Butiaba region and across the basin, we are certain that commercial threshold for development would be exceeded.

“We have, therefore, assigned a dedicated team to make a commercial development plan for the overall basin,” he said.

Heavey said 2009 “promises to be a landmark year for Tullow, Heritage and the Government as we work together to realise the oil potential of the region.”

Tullow said the oil and gas columns found had the potential to be larger and were bigger than a find previously announced Tullow and Heritage at Kingfisher, which the partners had then described as the biggest land discovery in sub-Saharan Africa.

The well was drilled some 500 metres from the crest of the structure to a depth of 637 metres and has been successfully logged.

“Down-hole pressure testing and sampling have confirmed the presence of dry gas and moveable oil that has been recovered to the surface.
“Reservoir quality in all play zones is excellent,” Heavey said.

“The gas and oil columns encountered are 48 metres and 75 metres respectively with the potential to be even larger.

“Further exploration and appraisal may uncover significant reserves upside in the undrilled areas of what could be a very substantial trap,” he added.

Buffalo-1 is the fifth successful test of the Victoria Nile delta within the Lake Albert rift basin and was drilled 16km north-east of the Warthog-1 and Kasamene-1 discoveries.

This latest result extends the play further north and de-risks several adjacent prospects, located in Blocks 1 and 2, which are scheduled for drilling in 2009.

“Work on this well has been suspended till a future date.

“The rig is also being moved 5km south of Giraffe prospect location where drilling is expected to commence late December,” Heavey said.
This well will also appraise some of the upside potential of the Buffalo discovery.

Tullow has interests in three licences in the Lake Albert Rift Basin.

It operates Block 2 with a 100% interest and has a 50% interest in Blocks 1 and 3A, operated by Heritage,which has a 50% stake.

Tullow and Heritage hold 50% equity each in the licence where the discovery was made, with Heritage as the operator.

Uganda is estimated to have over four million barrels of oil reserves across the western Rift Valley.

The Government is also planning to set up an oil refinery in Bunyoro

[luxinvest]

British oil explorer Heritage Oil said it had made a "world-class" oil discovery in Uganda.

Heritage said it believed reserves in the Giraffe 1 well and a linked discovery known as Buffalo, which was announced in December, could total more than 400-million barrels of oil.

The company said the finds in an area known as Block 1 may extend further to the north and east and may include the Buffalo East prospect, which it said could create a very large structure of up to 90 square kilometres.

Heritage runs Block 1 and another block, 3a, and has a 50% equity stake in the exploration licences, with Tullow Oil holding the other 50%.

Heritage chief executive Tony Buckingham said: "The large Buffalo-Giraffe structure is a world-class discovery which could prove to be substantially more extensive than currently outlined, unlocking the multibillion barrel potential of Block 1." -- Reuters

und bald noch news aus dem Irak

[sailor888]

CALGARY, ALBERTA--(Marketwire - Jan. 22, 2009) - Heritage Oil Limited ("Heritage" or "the Company") (TSX: HOC.TO)(LSE: HOIL.L) -

The Company was notified on 21 January 2009 that Salim Hassan Macki, Director, acquired 150,000 Heritage ordinary shares of no par value ("shares") on the London Stock Exchange at an average price of 196.08p per share. His notifiable shareholding in the Company following this transaction is 150,000 shares representing 0.06% of the Company's total voting rights outstanding.

Das sind Käufe für ca. 300.000 €.
Kurs gestern 4 CAD = 2,48 €

[bostonman]

Hallo, habe mal eine Frage was hat jetzt dieser Kursrückgang zu bedeuten? Muß man sich Sorgen Machen?

[bostonman]

Hallo, habe mal eine Frage was hat jetzt dieser Kursrückgang zu bedeuten? Muß man sich Sorgen Machen?

[KaOzz]

Antwort auf Beitrag Nr.: 36.439.275 von bostonman am 23.01.09 19:51:39

wollte wohl jemand günstig rein ;-)

RNS Number : 3526M
Heritage Oil Limited
27 January 2009

28 January 2009


Heritage Oil Limited
("Heritage" or "the Company")

Director Shareholding

The Company was notified on 27 January 2009 that Salim Hassan Macki, Director,
acquired 68,752 Heritage ordinary shares of no par value ("shares") on the
London Stock Exchange at an average price of 164.76p per share. His notifiable
shareholding in the Company following this transaction is 218,752 shares
representing 0.09% of the Company's total voting rights outstanding.
This notification is made in accordance with DR 3.1.4R (1).
- ends -
For further information please contact:


Heritage Oil Limited
Tony Buckingham, CEO / Paul Atherton, CFO
[phone]
[e-mail]

[KaOzz]

Is natürlich blöd, dass der GBP sozusagen gerade wegkippt.

[adeon]

Schaut ja langsam super aus
Scheint so als wäre die erste Bohrung im Irak ein voll Treffer.
Die Insiderkäufe sprechen jedenfalls dafür

[KaOzz]

Heritage, Tullow make key oil find in Uganda

Tue Jan 13, 2009 9:05am EST


* Say make "world class" oil find in Uganda

* Buffalo-Giraffe reserves may be more than 400 mln barrels

* Heritage says find may be bigger than M'Boundi in Congo

* Heritage shares up, Tullow stock falls

(Recasts with Tullow; adds analyst comment; updates shares)

By Philip Waller

LONDON, Jan 13 (Reuters) - British oil explorers Heritage Oil Plc (HOIL.L) and Tullow Oil Plc (TLW.L) said on Tuesday they had made a potentially "world class" oil discovery in Uganda.

Reserves found by the Giraffe-1 well in the Lake Albert Rift Basin and linked discovery Buffalo, which was announced in December, could total more than 400 million barrels of oil, the two companies said in separate statements.

Shares in Heritage, which said the find could be its biggest ever, gained more than 4 percent following the announcement, but Tullow's stock slipped more than 2 percent.

Analysts said that while the discovery in Lake Albert, which is in western Uganda, was positive for both companies, Tullow was larger and its shares were likely to have dipped in line with a fall in the wider market. At 1350 GMT, the DJS Oil & Gas index .SXEP was down 1.8 percent.

"Tullow is ten times the size of Heritage and it's much more levered to what happens in Ghana," Jefferies International analyst William Arnstein said. Tullow has interests in three exploration licenses offshore Ghanna.

The finds, both in Block 1, may extend further to the north and the east and could include the Buffalo East prospect, which Heritage said could create a very large structure of up to 90 square km.

Heritage Finance Director Paul Atherton said 18 wells the company had drilled in the basin so far had produced oil and there were "numerous other" drilling targets in Block 1.

Atherton said Buffalo and Giraffe could eventually be larger than Heritage's previous biggest find, a discovery of 500-600 million barrels of oil in the M'boundi field in the Republic of Congo.

"I think Buffalo-Giraffe will be the biggest discovery we have made, over time," he said.

Heritage plans to do more drilling in Block 1 later this year and it could take two to three years to uncover the full potential of the basin, Atherton said.

Heritage runs Block 1 and Block 3a, and has a 50 percent equity stake in the exploration licences. Tullow Oil holds the other 50 percent. Tullow also runs Block 2 in the basin, which it owns outright.

"Combined with our other finds in the region, we have now clearly exceeded the thresholds for basin development," Tullow Chief Executive Aidan Heavey said. "Options for commercialisation and first oil production are currently being fast-tracked."

Arnstein at Jefferies International said Tullow and Heritage had needed to show Buffalo-Giraffe was able to produce at least 400 million barrels of oil to help them justify the cost of building a $1.5 billion, 1,300 km-long (806 mile) heated pipeline to carry the oil over mountainous and swampy land to Ugandan capital Kampala and the Kenyan coast.

RBC Capital Markets said that although further drilling was needed to reduce the risks inherent in Buffalo-Giraffe, "with 1 billion (barrels worth) of oil-in-place potential, today's result is significant".

Heritage shares were up 3.8 percent at 225.5 pence by 1350 GMT, while Tullow shares were down 2.9 percent at 686.5 pence. (Reporting by Philip Waller; editing by Karen Foster)

[KaOzz]

Chart bewegt sich im Widerstandsbereich bi 250 GBP.
Hat bisher dynamisch angezogen, gab jedoch vorerst heute in London ca. -5% wieder ab. Bleibt abzuwarten, ob der Preis auf die Unterstützung bei vorerst 200 GBP zurückfällt

[KaOzz]

Heritage Oil Announces First Oil From West Bukha Field, Oman
CALGARY, ALBERTA--(Marketwire - Feb. 18, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Limited (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, announces the commencement of oil and associated gas production from the West Bukha field in Block 8, located in the Strait of Hormuz offshore of the Sultanate of Oman ("Oman"). Heritage has a 10% working interest.

Highlights

- Initial gross flow rates of approximately 15,000 barrels of oil equivalent per day, comprising 10,000 barrels of 42 degree API oil and 30 million cubic feet (MMcf) per day of associated gas

- West Bukha field has additional untapped potential

- Provides a significant increase in current production levels for Heritage

The West Bukha field in Oman has commenced production with initial flow rates of approximately 10,000 barrels per day of good quality, light sweet, 42 degree API oil and 30 MMcf per day of associated gas from the Mishriff-Maudud and Thamama reservoirs. Production is from two wells through a recently installed six-slot unmanned platform located in 90 metres of water approximately 25 kilometres from the Musandam Peninsula. The field is considered to have additional untapped potential which will require further appraisal.

Production is tied through a sub-sea 12-inch multiphase flow line to the nearby Bukha production platform. The Bukha gas condensate field, also in Block 8, commenced production in 1994 and today can flow an additional 10 to 15 MMcf per day of non-associated gas with condensate. Output from the two fields is transported to shore by a 33-kilometre multiphase pipeline for processing at the Khor Khwair plant in the Emirate of Ras Al Khaimah. Oil and condensate are slated for export and gas is delivered to industrial and commercial users in the Emirate.

Eagle Energy (Oman) Limited, a wholly-owned subsidiary of Heritage, acquired its 10% working interest in Block 8 offshore Oman in 1996. The licence area covers 423 square kilometres containing the Bukha gas condensate field and the West Bukha oil field. The West Bukha field straddles the maritime boundary between Oman and the Islamic Republic of Iran.

Tony Buckingham, Chief Executive Officer, commented:

"The successful development of the West Bukha field brings onstream a material increase to Heritage's production. Additionally, there is further potential within the field that is yet to be appraised which could provide a further boost to production levels. This marks a significant milestone for both the project and the joint venture partners."

Heritage Oil has a 10% interest in Block 8 offshore Oman. The other joint venture partners are RAK Petroleum (operator and 40% interest) and LG International (50% interest).

[ducatiman]

Antwort auf Beitrag Nr.: 36.603.868 von KaOzz am 18.02.09 15:56:09

Mühsam nährt sich das Eichhörnchen

MOMBASA, Kenya (Reuters) - British explorer Heritage Oil expects oil production to start at Ugandan wells in 2010, a senior company official said on Friday.
Heritage and partner Tullow Oil found crude in several wells dug between 2006 and 2008 in the Albertine Basin, which spans Uganda's border with Democratic Republic of Congo.
Energy prospectors are increasingly turning off the beaten path and searching east and central Africa for hydrocarbon deposits, although experts warn the global financial crisis is threatening to stem some of those plans.
"The earliest production could be next year and that is Tullow. They may be producing by 2010 into a small topping plant," Heritage's vice president for exploration and production, Brian Smith, told Reuters in an interview.
"Heritage is hopeful that we can begin production in 2011," he said on the sidelines of a regional oil and gas meeting in the Kenyan port city of Mombasa.
Smith said production plans were being discussed along with the construction of a refinery and an export pipeline.
"There are many options for how the oil resources of Uganda will be developed," he said.
The east African nation is contemplating building a small refinery to cut dependence on neighbouring Kenya's ageing refinery. Transportation of fuel to Uganda from the Kenyan coast is hindered by creaking infrastructure between the countries.
Supply was also severely disrupted last year when Kenya was hit by post-election crisis violence, leading to fuel shortages in Uganda and neighbouring Rwanda and Burundi.
The discoveries of commercially-viable deposits in the Albertine Basin has, however, forced a rethink of the plan, Ugandan energy officials say.
They are now considering a more than 100,000 barrels a day capacity refinery at a cost of $1.3 billion in about two years.
Smith said Heritage is working closely with the government to ensure the oil finds are developed in the right way. But he added more work needed to be done to prove there were enough reserves to sustain the capacity.
"Before any decision on the refinery to build, you would actually have proven reserves to deliver the capacity that is required to support a refinery," he said.
"We are not quite there yet."
Smith said the discoveries, estimated by Heritage at over 2.5 billion barrels of crude, have a greater than 50 percent chance of existence and to justify a massive capital project like a refinery would need a better than 90 percent chance.
He said their investment in the project, combined with equity partner Tullow's, runs into hundreds of millions of dollars. He said the global slowdown had not had any immediate impact on Heritage's operations, but added it was looking into all the possibilities for funding in the future
"We wouldn't necessarily have to seek additional finances in the traditional way of financing, project financing from the banking community, for instance. There are other options of putting together a consortium for a pipeline, putting together a consortium for rail transport etc," said Smith.
"There are many ways we can find to approach this issue."

[KaOzz]

Nette Aufwärtsdynamik...

GBP/EUR hat sich auch wieder etwas stabilisiert.
Hoffe, dass er weiter runterkommt... Der Aufstieg in Pfund ist am Euro vorbeigegangen...

Rohstoffe zeigen in letzter Zeit alle ansatzweise eine stärkere Aufwärtsdynamik.

Der Weg zu 3,50 GBP ist eigentlich nur noch eine Frage der Zeit

[KaOzz]

Chart lässt es ja schon vermuten, hier läuft ne heiße phase an...

Die Iraq-Results werden erwartet!

[adeon]

Antwort auf Beitrag Nr.: 36.813.224 von KaOzz am 20.03.09 16:08:35

DA kann Ich nur zustimmen und
nach dem Chart verlauf werden diese wohl
nicht schlecht ausfallen
Vielleicht eine ähnliche Entdeckung wie das Kingfisher Feld dann
gibt es hier kein halten mehr

[KaOzz]

Ich bin geneigt, zu behaupten, der britische Pfund wertet schneller ab, als der HOIL-Preis steigt... Wird Zeit, dass der EUR endlich abwertet

[KaOzz]

Noch was anderes, hier ist mal ein HOC-Aktionär ausgestiegen, weil er Befürchtungen hatte, dass Heritage in Uganda die Bevölkerung ausbeutet. Damals konnte ich das nicht nachvollziehen, heute verstehe ich die ethischen Gründe besser. Mittlerweile wird auf der HP auch auf die Social Responsibility hingewiesen und dazu gibts nen netten Artikel:

http://allafrica.com/stories/200903200179.html

[KaOzz]

23 March 2009
South China Morning Post

(c) 2009 South China Morning Post Publishers Limited, Hong Kong. All rights reserved.

The mainland's three largest oil and gas companies are interested in bidding for a stake in an African asset owned by Britain-based Tullow Oil in a deal expected to reach about US$500 million, market sources said.

Tullow and British partner Heritage Oil own 50 per cent stakes in two blocks of an oil deposit on Lake Albert on the border between Uganda and the Democratic Republic of Congo. Tullow wholly owns an additional block.

"They're looking to sell down to raise funds for development and mitigate risk," said an analyst. "There should be big enough interest and I would expect to see the Koreans and Japanese in there as well."

[KaOzz]

Chart Image




---

Wie gesagt, wenn der GBP nicht so dermaßen an Wert verloren hätte, wären wir heute auch wieder bei der 4,50 EUR Marke gewesen, wie Mitte letzten Jahres

[ducatiman]

Antwort auf Beitrag Nr.: 36.763.956 von ducatiman am 13.03.09 18:29:35

Mal sehen was da in nem Monat kommt????!!!!!!!!

Mar 25, 2009 02:00 ETHeritage Oil to Test Miran West-1 Well in the Kurdistan Region of Iraq
CALGARY, ALBERTA--(Marketwire - March 25, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Limited (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, announces that it has reached target depth on the Miran West-1 exploration well in the Kurdistan Region of Iraq and it is preparing to test the well.

Highlights

- Miran West-1 reached a total depth of 2,935 metres

- The well encountered oil shows over a 1,100 metre interval

- Excellent oil shows were seen over the three principal proven reservoir formations in the region

- Preparations are underway to begin testing

- Testing is anticipated to take up to one month to complete

- First ever well to be drilled on the Miran licence in the Kurdistan Region of Iraq

- The Miran Block is located close to one of Iraq's major export pipelines

The Miran West-1 exploration well, which commenced drilling on 21 December 2008, reached a total measured depth of 2,935 metres. The well encountered oil shows over an interval of 1,100 metres and good quality light, sweet oil was recovered to surface during drilling operations. Evidence from wireline logs and shows whilst drilling indicates the presence of hydrocarbons in the three main producing zones in the region; the Shiranish, Kometan and Qamchuqua reservoirs.

Heritage anticipates that it will commence testing operations on the Miran West-1 well within ten days, following completion of wireline logging operations. The testing programme is expected to take up to one month to complete. The Company plans to perforate the most highly prospective fractured zones and run a series of drill stem tests (DSTs) through casing over a gross interval of approximately 500 metres.

A further announcement will be made upon completion of the testing programme.

The Miran licence contains two large structures covering approximately 330 square kilometres. These structures, Miran West and Miran East, have been mapped from the 332 kilometres of excellent quality seismic data acquired by Heritage between April and June 2008.

Tony Buckingham, Chief Executive Officer, commented:

"This is an exciting time for Heritage as we make preparations to test the high impact Miran West-1 exploration well. The excellent oil shows over such a large interval of 1.1 kilometres highlights the multi-billion barrel oil potential of the prospects on the Miran licence, given the extensive area of the two Miran structures. We believe that Miran, like our unprecedented success in Uganda, has the potential to transform Heritage and deliver excellent value for our shareholders."

Heritage Energy Middle East, a wholly-owned subsidiary of Heritage, is operator and holds a 100% interest in the Miran licence, although there are back-in rights, which if fully exercised could result in a minimum holding of 56.25%. The Miran licence has an area of 1,015 square kilometres and is located west of the city of Suleimaniah.

Notes to Editors

- Heritage is listed on the Main Market of the London Stock Exchange and is a constituent of the FTSE 250 Index. The trading symbol is HOIL. Heritage has a further listing on the Toronto Stock Exchange (TSX:HOC).

- Heritage is an independent upstream exploration and production company engaged in the exploration for, and the development, production and acquisition of, oil and gas in its core areas of Africa, the Middle East and Russia.

- Heritage has producing properties in Oman and Russia and exploration projects in Uganda, the Kurdistan Region of Iraq, the Democratic Republic of Congo, Malta, Pakistan, Tanzania and Mali.
-

If you would prefer to receive press releases via email please contact Lindsay Carpenter ([e-mail]) and specify "Heritage press releases" in the subject line.

FORWARD-LOOKING INFORMATION:

Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding production estimates and future plans and objectives of Heritage - constitute forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves and recoveries; production and operating cost assumptions; development risks and costs; the risk of commodity price fluctuations; political and regulatory risks; and other risks and uncertainties as disclosed under the heading "Risk Factors" in its Prospectus and elsewhere in Heritage documents filed from time-to-time with the London Stock Exchange and other regulatory authorities. Further, any forward-looking information is made only as of a certain date and the Company undertakes no obligation to update any forward-looking information or statements to reflect events or circumstances after the date on which such statement is made or reflect the occurrence of unanticipated events, except as may be required by applicable securities laws. New factors emerge from time to time, and it is not possible for management of the Company to predict all of these factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information.

[KaOzz]

Cazenove note

http://ftalphaville.ft.com/marketslive/

The Miran West-1 exploration well is the first well ever to be drilled on the Miran block and today's announcement is very encouraging for the prospectivity of the licence. The block contains two very large identified structures (Miran West and Miran East) with an estimated area of up to 330 sq km, which management guided could contain potential reserves of over 1bn barrels of oil (pre-drilling). A key risk prior to drilling was migration of the crude, but the presence of oil shows has derisked both Miran West and Miran East.

It is too early to estimate the potential size/commerciality of the discovery, as flow testing will be crucial. We note that even then, the results may be affected by the fact that Heritage needs to test through casing rather than through an open hole, which can limit rates.

We do not make any adjustments to our core NAV on the back of today's news, but are very encouraged by the results, which underscore the potential prospectivity of the block, which has the ability to transform Heritage. We estimate that a billion barrels of recoverable reserves (as per predrill guidance), could add c400p to Heritage's value (based on a NPV of $2.6/bbl and assuming Heritage's net interest is 56.25% post third party back-in rights). We should have much more clarity after the results of the flow test, expected around the end of April.

We note that in the event of a large commercial discovery, the block is located close to one of Iraq's major export pipelines. We also note that Iraq's oil minister, Hussain al-Sharistani, announced on 19 March that DNO [DNO NO NOK 5.46 NR] could start exporting crude from its Tawke field in Kurdistan "as soon as possible". Although DNO is still awaiting official confirmation, better relations between the Kurdistan Regional Government 'KRG' and Iraqi Federal government bodes well for other players in Kurdistan, as a long standing disagreement between the KRG and Iraqi government over the split for oil revenue had resulted in Iraq declaring all licences agreed post 2007 in Kurdistan 'invalid', although this is contested by the oil companies and KRG.


Today's news is encouraging for Heritage, which has performed strongly this year, with a YTD TSR of +52%. In our opinion, some of the recent share price increase will have been due to pre-drill speculation surrounding the results of the Miran West-1 well. However, we do not believe all of the recent performance can be attributed to Miran West-1 speculation. Indeed, we note the whole E&P sector has performed strongly over the last few weeks on the back of a sharp increase in the oil price and possible bids for Bowleven and Venture Production, which have sparked hopes of wider consolidation. Indeed, aside from the exploration upside, we are bullish on Heritage given its likely appeal for predators. We note that Tony Buckingham, Heritage's CEO, owns 33.3% of the company, and is thus unlikely to agree to any offer which does not recognise the potential upside.
At 311p, Heritage is trading at a 23% premium to our core NAV. At these levels, a certain amount of bid speculation and exploration success is priced in. However, given the potential upside from a successful flow test in Kurdistan and the company's takeover appeal, we remain with our OUTPERFORM recommendation

Evolution note

Miran West-1 reaches target depth and looks very significant
EVO TAKE - For now, Heritage is sticking to its guidance of a mutli-billion barrel prospect but there is the potential for a significant upside here. In our valuation we had assumed a 500m gross recoverable reserve of 500m boe (56% net to Heritage) with risked upside of 123p, unrisked this would be 256p, before any increases in reserves estimates. This looks like being a very significant discovery for Heritage and possibly the whole oil industry, but today its possibly being over looked because of M&A news in the UK North Sea. We are raising our target price to 500p.

VALUATION AND RECOMMENDATION - On 3rd March we wrote that we thought Kurdistan was a free option in Heritage's share price with little downside risk if exploration failed. The downside appears to have been eliminated. Our old target price of 400p included a risked upside of 123p for the Miran structure based on 500m boe of recoverable reserves. Following today's news we are raising our target price to 500p to reflect the success and the potential upside to our reserves assumption

[KaOzz]

Nach neuesten Studien soll das Fass Rohöl nicht durch Spekulation auf über 140 USD gebracht worden sein...

[KaOzz]

April 8, 2009

Heritage Announces the Sale of Its Oman Holdings for US$28 Million
CALGARY, ALBERTA--(Marketwire - April 8, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Limited ("Heritage" or the "Company")(TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, announces it has completed the sale of Eagle Energy (Oman) Limited ("Eagle Energy"), a wholly-owned subsidiary of Heritage, to RAK Petroleum Oman Limited for US$28 million, plus a working capital adjustment of $0.4 million. Eagle Energy holds a 10% interest in Block 8, Oman.

Highlights

- Sale of Eagle Energy for cash consideration of US$28 million

- Cash proceeds of US$28 million received and will be reinvested in core activity areas of Uganda and Kurdistan

- Heritage's reserves reduced by only 2% with the sale

- Heritage continues strategy of creating shareholder value through focusing on core assets

The effective date of the transaction is 31 December 2008. The cash consideration of $28 million and a working capital adjustment of $0.4 million have been received. Heritage acquired Eagle Energy, which has a 10% interest in Block 8 offshore Oman, in 1996. Block 8 contains the Bukha field which has been producing since 1994 and the West Bukha field which commenced production in February 2009. Block 8, Oman generated profit of $1.0 million for the year ended 31 December 2007 and had gross assets of $21.1 million as at 30 June 2008, net to Heritage.

RPS Energy estimated Heritage's proved plus probable reserves as at 31 December 2007 at 62.1 million barrels of oil equivalent (boe), of which 1.7 million boe were attributed to Eagle Energy's interests in Oman, therefore this sale represents only a 2% reduction in reserves.

Sale proceeds, which have already been paid to Heritage, will be used this year to continue the Company's activities in Kurdistan and Uganda. Over the last 12 months Heritage has had remarkable success with the drill bit in Uganda, including the discovery of the Buffalo-Giraffe field which is considered, by management, to be the largest onshore oil discovery in Sub-Saharan Africa in the last two decades.

Tony Buckingham, Chief Executive Officer, commented:

"This transaction demonstrates Heritage's strategy of realising value for shareholders within the portfolio. A minority interest in a non-operated licence with negligible reserves was no longer considered integral to the portfolio. We believe the cash proceeds from the sale will enable Heritage to generate substantially greater value by focusing resources on its core activity areas in Uganda and the Kurdistan Region of Iraq."

[KaOzz]

Tullow wins back Congo oil rights

Wednesday, 15 April 2009

AS expected, Tullow Oil and its partner Heritage Oil have won back rights to explore for oil in the Democratic Republic of Congo after a year-long dispute, the country’s hydrocarbons minister, Rene Isekemanga Nkeka, has said.

Congo’s previous hydrocarbons minister, Lambert Mende, in February 2008, said Tullow’s rights to Block I on Lake Albert, which straddles the border with Uganda, had been withdrawn after he identified contract irregularities.

“This affair will be settled for good and will belong to the past,” Isekemanga said yesterday in an interview

WEITERLESEN:

http://www.independent.co.ug/index.php/business/business-new…
business-news/820-tullow-wins-back-congo-oil-rights" target="_blank" rel="nofollow ugc noopener">http://www.independent.co.ug/index.php/business/business-new…
business-news/820-tullow-wins-back-congo-oil-rights

[local hero 3]

Heute schöner Anstieg gegen den Trend der Märkte.....

+ 10 Prozent

[adeon]

Antwort auf Beitrag Nr.: 37.004.245 von local hero 3 am 20.04.09 18:43:04

Sollten bald Ergebnise aus dem Irak kommen
und denn kurs nach gute

letzte News vom 25.03 war die Rede von 1 Monat bis
zur Fertigstellung des 1 Wells im Irak

[Akkiman]

Was geht denn hier ab heute? Hätte ich all mein Geld hier rein gesteckt hätte ich schon ausgesorgt. Naja, man ist ja kein Hellseher.

[KaOzz]

Na Spitze...
Heritage hat jetzt ne MK von einer Milliarde Pfund

Ich würd sagen, dass der Preis durch spekulative Erwartung etwas überreizt ist.

Wenn die 4,00 GBP Marke geknackt wird, seh ich den Laden abheben.

Was für Gerüchte aber auch in den letzten Monaten aufgetaucht sind...
40 Mia. barrel Öl im Miran, Übernahme durch die Chinesen...

Naja, mal schaun was für news kommen

[KaOzz]

also ich bin mir ziemlich sicher, dass es erstmal bis zur 350er marke geht

[KaOzz]

mmh

KRG Refinery Plan dropped?

http://www.energyintel.com/DocumentDetail.asp?document_id=25…" target="_blank" rel="nofollow ugc noopener">
http://www.energyintel.com/DocumentDetail.asp?document_id=25…

[local hero 3]

Antwort auf Beitrag Nr.: 37.004.900 von adeon am 20.04.09 20:18:55

Die News aus dem IRAK ist da => + 20 Prozent im Kurs

http://www.heritageoilltd.com/resource/n3r7su08wb2fkl0gwmvzw…

[ducatiman]

Antwort auf Beitrag Nr.: 37.106.387 von local hero 3 am 06.05.09 11:36:59

06.05.2009 10:34
UPDATE 2-Heritage Oil says makes big Iraq find, shares soar
By Tom Bergin

LONDON, May 6 (Reuters) - British oil explorer Heritage Oil (News) said on Wednesday it has discovered up to 4.2 billion barrels of oil in the Kurdish autonomous region of Iraq, sending its shares soaring 18 percent, despite doubts about the legality of Kurdish oil contracts.

Heritage said in a statement that its Miran West field could be producing 10,000 to 15,000 barrels of oil per day by the end of the year, with plans to truck out the oil until a connection to Iraq's export pipelines can be built.

Analysts roundly applauded the find and lifted their price targets for Heritage's shares.

'Today's news is transformational for Heritage,' Richard Griffith, oil analyst at Evolution Securities said.

Evolution raised its target price for the shares to 800 pence from 500 pence.
The shares were up 21 percent at 486 pence at 0812 GMT.

Analysts at Credit Suisse reiterated their view that Heritage would be a logical acquisition for one of the Chinese state oil companies, which in recent years have been snapping up energy assets across the globe, to fuel China's economy.

However, the Iraqi government has described the contracts the Kurdish regional government signed with western companies as illegal.

Disputes between the regional government and Baghdad over revenue sharing have stalled oil projects in Kurdistan.

Kurdish oil must pass through the rest of Iraq to make its way to export markets. Kurdish demand is only a few thousand barrels a day and this is well satisfied by existing wells.

Heritage's chief financial officer, Paul Atherton, told Reuters in a telephone interview that he was confident a deal would be struck soon such that companies like Heritage could receive licences to move their crude out of the region and to connect up to the main export pipelines.

Atherton said Heritage would be able to fund the development of its Kurdish fields out of cash on its balance sheet and from cash flow from early production from the fields.

(Editing by Greg Mahlich) Keywords: HERITAGEOIL KURDISTAN

([e-mail]; [phone]; Reuters Messaging: [e-mail])


COPYRIGHT


Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Liest sich erst einmal nicht schlecht, muss natürlich abgewartet werden wie es sich mit der Rechtmäßigkeit der Verträge verhält!

[KaOzz]

Der massive Kursanstieg heute is natürlich ne "riesenüberraschung".
Nachdem sie vor nem jahr schon bekannt gegeben haben, dass da eine Raffinerie in ihrem auftrag gebaut wird.

Wie auch immer Kursziele überschlagen sie ja mittlerweile von analystenseite her.

---

Heritage Oil Announces a Major Oil Discovery With the Miran West-1 Well Test in the Kurdistan Region of Iraq
Wed May 6, 2:00 AM

CALGARY, ALBERTA--(Marketwire - May 6, 2009) - THIS PRESS RELEASE IS Heritage Oil Limited (TSX: HOC.TO)(LSE: HOIL.L), an independent upstream exploration and production company, announces a major oil discovery in the Kurdistan Region of Iraq and the completion of an initial test programme on the Miran West-1 well. The results are summarised below:

- Miran West structure estimated oil-in-place of between 2.3 to 4.2 billion barrels

- Recovery factor expected to be between 50% to 70% due to the highly fractured nature of the reservoirs

- From the pressure data recorded during testing management estimates flow rates of between 10,000 to 15,000 bopd per well

- Miran West-1 well has an estimated gross oil-bearing interval of 710 metres

- Oil produced during testing was medium gravity (approximately 27 degree API),with low sulphur, a low gas-oil ratio and with no water

- Miran West field development will be low cost and straightforward to fast-track

- Potential for trucking production for sale by year-end 2009

- Success of Miran West-1 has significantly lowered the exploration risk of the adjacent, similarly sized, Miran East structure



It was announced on 25 March 2009 that the Miran West-1 well had reached target depth. Several drill stem tests (DSTs) were run over a gross interval of 500 metres, covering the three major producing reservoirs in the region: the Shiranish, Kometan and Qamchuqua formations.

As this was the first exploration well ever drilled on the licence, drilling procedures took account of the high reservoir pressures that characterise the region, but which were not encountered in the well. Testing was severely constrained by the limitations of the downhole and surface testing equipment and the loss of over 100,000 barrels of drilling fluid and lost circulation material due to the highly fractured nature of the reservoirs.

Additional testing equipment is being sourced to undertake a second phase of longer term testing. This equipment is expected to arrive within six to eight weeks and the drilling rig will remain on site during this period. Following the upcoming testing programme the well is scheduled to be suspended as a future producer with the potential to truck crude oil production by year-end 2009.

The information gained from the drilling of this well will be invaluable for the drilling of subsequent appraisal wells, which can now be planned in such a way as to optimise future wells for testing and completion. Further drilling on the licence is scheduled for later this year.

Commenting on the results, Dr. Ashti Hawrami, the Minister of Natural Resources of the Kurdistan Regional Government, said:

"This is excellent news and we look forward to the Miran field exporting oil later this year. This will mean that the Miran field in the Kurdistan Region of Iraq will make a further contribution to Iraq's oil revenue to be shared by all peoples of Iraq."

Tony Buckingham, Chief Executive Officer, commented:

"This is another significant development milestone for Heritage. The presence of oil in such a large structure with a multi-billion barrel reserves potential illustrates the significance of this discovery. There is also further upside potential with the neighbouring Miran East structure, which together with Miran West has an area of approximately 330 square kilometres. The Miran field has the potential to deliver significant value as it will be a major source of reserve and production growth for Heritage."

Heritage Energy Middle East, a wholly-owned subsidiary of Heritage, is operator and holds a 75% interest in the Miran Licence, with Genel Energy International Limited holding 25%. The Miran Licence contains two large structures, Miran West and Miran East, which have been mapped from the 332 kilometres of excellent quality seismic data acquired by Heritage between April and June 2008.

[KaOzz]

Vom Prinzip her ist mit den guten News nach oben alles offen.

Leider hatte ich schon verkauft, weil ich von ner Übertreibung ausgegangen bin und muss jetzt ne gute nachkaufgelegenheit abwarten.

Mal sehen wie sich die Märkte entwickeln und ob es nochmal zu einem größeren Abverkauf kommt.

Der Ölpreis ist ebenso am steigen.

Gruß,
KOs

[local hero 3]

ich habe letzte Woche auch die Hälfte meiner Aktien abgegeben; manchmal ist es doch richtig, zumindest einen Teil zu halten.

[KaOzz]

Antwort auf Beitrag Nr.: 37.109.573 von local hero 3 am 06.05.09 15:57:08

hast völlig recht!

zukünftig nehme ich den Einsatz raus und lasse den gewinn weiterlaufen. das reduziert das risiko auf null...

Blick auf die T&S, die letzten Orders sind interessant:
Der rot gefärbte hat ein Volumen von 1,6 Mio Pfund

-----

6-May-09 09:08:49 485.00 84,534 Sell* 500.00 502.00 409.99k
Trade Type: Delayed publication

6-May-09 16:01:45 480.00 35,000 Sell* 500.00 502.00 168.00k Trade Type: Delayed publication

6-May-09 16:47:48 500.00 25,000 Sell* 500.00 502.00 125.00k
Trade Type: Unknown

6-May-09 10:50:25 474.38 140,000 Sell* 500.00 502.00 664.13k
Trade Type: Delayed publication Late reported Nonprotected portfolio Single Protected Transaction

6-May-09 16:40:25 487.93 139,960 Sell* 500.00 502.00 682.91k
Trade Type: Nonprotected portfolio Single Protected Transaction

6-May-09 16:35:28 500.00 315,102 Sell* 500.00 502.00 1.576M
Trade Type: Uncrossing trade

6-May-09 16:31:42 485.25 75,000 Buy* 528.50 480.00 363.94k Trade Type: Bargain Conditions apply Nonprotected portfolio Single Protected Transaction





http://www.lse.co.uk/ShareTrades.asp?shareprice=HOIL&share=h…

[sailor888]

11,24 CAD = 7,23 €

[toynet]

Antwort auf Beitrag Nr.: 37.113.819 von sailor888 am 06.05.09 22:28:09

Hi

habe länger pausiert hier bei w:o, bin aber drin geblieben. Hoil lasse ich einfach laufen. Das war vor Jahren mal die Aktie mit der Irak Phantasie, und noch etwas dazu.

Den Taipan beziehe ich schon lange nicht mehr. Ich meine das war eine gute Empfehlung. Wer da mal zu hoc-Zeiten eingestiegen ist ...

sailor, was willst du damit sagen?

Ich meine das ist nicht mehr die gleiche Aktiengattung, insofern nicht relevant.

Da hatte ich heute noch eine mail wg. Stimmrechten. Was ist damit?

Ich bleibe hier auch drin, mal schauen was noch kommt.

tn

[RABOCH]

Hi,

bin auch investiert geblieben und schon 500% im +. Da soll mal einer was gegen sagen. Die Irakis haben eine Liste mit 120 Öl-Unternehmen zur Auswahl gestellt, davon sind 38 in die engere Wahl gekommen und 9 übrig geblieben und erhalten eine Lizenz. Ich weis zwar nicht welche, aber Heritage und Petrel sind NICHT dabei! Durch den China Deal ist aber noch reichlich was an Phantasie drin. Warte mal noch ab was kommt.

R.B.

[Coxos]

gehn gut ab die "irak aktien"
ein ort wo man invesiert sein sollte
bin schon seit 2000 in turkmenistan wert drin
davor kasachstan
die werte wurden aber alle von chinesen und russen aufgekauft
die region iss voll mit öl
siehe auch
wikipedia
"erdölgewinnung am kaspischen meer"

[toynet]

Antwort auf Beitrag Nr.: 37.138.745 von Coxos am 10.05.09 11:54:07

Hi, willkommen

wie bist du denn hier gelandet?

und wen meinst du denn da in Turkmenistan?


TN

[Coxos]

wie ich hier gelandet bin
naja
ich habe schon vor langer zeit südlich turkmenistans
iran und irak bzgl aktien sondiert
im irak neben hoil auch gulf keystone und vast
schaue in den boards in england immer rein
bei w o bin ich weniger unterwegs

habe mal den kurdistan artikel bei wikiepdia verändert
mal schauen
ob er auch freigeschaltet wird
Ölvorkommen [Bearbeiten]

Der Irak besitzt die weltweit 3. größten Ölvorkommen. Davon liegen in der Autonomem Region Kurdistan schätzungsweise 45 Milliarden Barrel Öl. Damit liegt mal weltweit auf Rang 6. Eines der größten Ölfelder der Welt ist das Kirkuk Ölfeld mit ca. 16 Mrd. Barrel. Wie Bohrergebnisse aus den Jahren 2007 - 2009 zeigen, befinden sich in der Region einige Felder mit mehr als 1 Mrd. Barrel Öl. Das sind im weltweiten Maßstab betrachtet gewaltige Vorkommen. Die erzielten Testförderraten an den durchgeführten Bohrungen zählen zu den höchsten der Welt. Bis zu 40.000 Barrel pro Tag (bopd) wurden gemessen. Diese Ölvorkommen sind auch Grund für den jahrelangen Streit zwischen der kurdische Regierung und der Regierung in Bagdad. Die kurdische Regierung hat seit 2003 mit 24 kleineren westlichen Ölgesellschaften Verträge zur Erforschung und Ausbeutung von Ölfeldern geschlossen. Bagdad sah diese Verträge als illegal an und erteilte keine Genehmigung zur Förderung und zum Export des Öls. Am 8. Mai 2009 erteilte dann die Regierung in Bagdad aber diese Genehmigung zum Export von kurdischen Öl. Ab dem 1. Juni 2009 flossen 60.000 Barrels pro Tag vom Tawke Feld über Pipelines zum am Mittelmeer gelegenen Ölverladehafen nach Ceyhan (Türkei). Ende Juni 2009 begann dann auch der Export vom Tawke Feld mit 40.000 bopd Barrel am Tag. Den Verkauf nimmt die staatseigene "State Oil Marketing Organization" (SOMO) in Bagdad vor. Das Tawke Feld wird von der norwegischen Firma DNO ASA entwickelt. Die türksiche Genel Enerji und die kanadische Addax Petroleum Corp. sind Betreiber des Taq Taq Feldes. Ende 2009 soll die Exportmenge von diesen beiden feldern bei 250.000 bopd liegen. [6] Mit diesen Ölexporten hätte die Regierung eine sichere Einkommensquelle, die das wirtschaftliche Rückgrat eines kurdischen Staates bilden könnte.

in turkmenistan?
Dragon Oil
gibts nen thread hier

http://de.wikipedia.org/wiki/Erd%C3%B6lgewinnung_am_Kaspisch…

p.s.
d iranische ölindustrie liegt am boden
alles staatlich
anlagen marode
es gibt an der teheraner börse keine interessanten aktien

[toynet]

Antwort auf Beitrag Nr.: 37.142.388 von Coxos am 11.05.09 10:57:00

Die Datumsangaben irritieren mich etwas

TN

[KaOzz]

Aus dem Handelsblatt


19.05.2009, 10:13 Uhr

Bagdad verbietet Kurden Beteiligung an Nabucco-Pipeline
von Matthias Brüggmann

Ab Juni will die kurdische Provinzregierung erstmals seit dem letzten Irak-Krieg Erdöl ins Ausland liefern lassen. Das Vorhaben sorgt für Streit mit der Zentralregierung in Bagdad. Das grundlegende Ölgesetz ist nach wie vor nicht verabschiedet, weil sich die zerstrittenen Volksgruppen nicht einigen können.
Der Ölhahn wird weiter aufgedreht: Ein Iraker bewegt ein Rad einer irakisch-türkischen Ölpipeline an einer Förderstation in Kirkuk. Quelle: dpaLupe

BERLIN. Die geplanten Öl- und Gas-Exporte der autonomen Kurdengebiete haben einen heftigen politischen Streit im Irak ausgelöst. Die kurdische Provinzregierung gab bekannt, vom 1. Juni an erstmals seit dem letzten Irak-Krieg Erdöl ins Ausland liefern zu lassen. Doch gleichzeitig torpediert die Zentralregierung in Bagdad eigenmächtige Gasexporte der Kurden.

Als ersten Schritt zur Normalisierung des Ölmarktes beschloss die Regierung in der Hauptstadt Bagdad ihrerseits eine neue Ölsteuer. Das Gesetz, dem das Parlament noch zustimmen muss, sieht vor, dass im Irak tätige ausländische Ölfirmen künftig mindestens 35 Prozent ihrer Gewinne als Steuern abführen müssen.

Allerdings stehen alle Ölprojekte auf wackligen Beinen, weil das grundlegende Ölgesetz für den Irak nach wie vor nicht verabschiedet ist. Obwohl Premier Nuri al-Maliki, ein Vertreter der schiitischen Mehrheit, bei den Kommunalwahlen erheblich wurde, konnten sich die zerstrittenen drei Haupt-Volksgruppen noch immer nicht auf das seit Jahren erwartete Gesetz einigen. Es soll die Förderrechte und die Verteilung der Einnahmen regeln. Das ist besonders umstritten, da die Hauptfördergebiete im schiitischen Süden und im kurdischen Norden liegen und die politisch seit dem Sturz des Diktators Saddam Hussein unterrepräsentierten sunnitischen Glaubensbrüder drohen leer auszugehen.

Unklar ist aber wegen des fehlenden Ölgesetzes weiterhin, wie stark sich ausländische Firmen künftig im drittgrößten Ölförderland der Welt künftig an der Produktion beteiligen können: Bisher gibt es nur vereinzelte Aufträge zur technischen Zusammenarbeit mit staatlichen irakischen Ölförderern, aber keine großen Konzessionen.

Auch in Kurdistan selbst wachsen die inneren Spannungen wieder. Die für heute geplanten Provinzwahlen wurden auf Ende Juli verschoben. Im Januar hatten sunnitische Araber die Macht in der wichtigen Ölstadt Mossul von den Kurden errungen, nun kommt es immer wieder zu erheblichen Spannungen und Gewalttaten.

Der Zwist behindert auch konkret vereinbarte Verträge: So gab die Zentralregierung zwar ihren Widerstand gegen den Ölexport aus kurdischen Feldern auf, ab 1. Juni kann demnach Rohöl von dort in die irakisch-türkische Pipeline eingespeist werden. Doch stellte das Kabinett gestern ein am Sonntag bekannt gegebenes Gasgeschäft der Kurden infrage. Ein Regierungssprecher in Bagdad kündigte Widerstand gegen den acht Mrd. Dollar schweren Vertrag zwischen der kurdischen Regionalregierung und einem Konsortium aus Österreichs OMV, der ungarischen MOL sowie Crescent Petroleum und Dana Gas aus den Vereinigten Arabischen Emiraten an. Wenn der Irak Erdgas an das Nabucco-Konsortium liefere, dann aus anderen Feldern.

Dies aber bringt neue Unsicherheiten für das von der Europäischen Union unterstützte Pipeline-Projekt Nabucco, durch das Erdgas aus Zentralasien nach Europa transportiert werden soll. Zusätzliche Konkurrenz für die 3 300 Kilometer lange Röhre, an der auch die Essener RWE beteiligt ist, kommt aus Russland: In Sotschi wurde am Freitag der Baubeginn der konkurrierenden South Stream-Pipeline zwischen der russischen Gazprom und der italienischen Eni besiegelt. Moskaus Energieminister Sergej Schmatko kündigte gestern an, South Stream werde bereits vor Nabucco Gas nach Europa pumpen.

http://www.handelsblatt.com/politik/international/bagdad-ver…

[KaOzz]

Heritage Oil enjoys 'exceptional 2009'

Tue 19 May 2009

LONDON (SHARECAST) - Oil explorer Heritage Oil said it has enjoyed an exceptionally good performance in 2009 to date, with significant operational success in Uganda and the Kurdistan Region of Iraq.

Meanwhile production from the Zapadno Chumpasskoye field in Russia, which was suspended last December until February amid lower domestic oil prices, resumed at about 150 barrels of oil per day in March, the group said in a statement.

Significant progress has been made in Uganda since the beginning of 2009, Heritage added. At the start of the year the group announced that discovered resources in the Albert Basin exceeded the threshold required for commercial development.

Looking ahead chief executive officer Tony Buckingham said, "The remainder of 2009 should continue to be very exciting with drilling programmes scheduled in Uganda and the Kurdistan Region of Iraq which have further potential."

[KaOzz]

Tullow, Heritage Face Tough Choices on Uganda Oil Devt.
Rigzone, by James Herron

01 June, 2009
http://africannewsanalysis.blogspot.com/2009/06/tullow-herit…" target="_blank" rel="nofollow ugc noopener">
http://africannewsanalysis.blogspot.com/2009/06/tullow-herit…

Ausblick für die zukünftige Entwicklung in Uganda, habs aber noch nicht komplett gelesen.

[oeli01]

bin ja mal gespannt, wohin/wiehoch der Kurs noch treiben wird. Es müßte ja sogar noch Potential nach oben vorhanden sein, wenn es mit der Förderung im Irak mal erst richtg losgeht.

[toynet]

Temporary Suspension


http://de.advfn.com/nachrichten/Temporary-Suspension_3804380…


tn

[adeon]

Achnö Übernahme ist doch noch viel zu günstig

[KaOzz]

Ich HASSE es, wenn sowas passiert!



Investment Industry Regulatory Organization of Canada - Trading Halt - Heritage Oil Corporation - HOC

11:15 AM ET, June 3, 2009

TORONTO, Jun 3, 2009 (Canada NewsWire via COMTEX) -- The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC):



Issuer Name: Heritage Oil Corporation
TSX Ticker Symbol: HOC
Time of Halt: 11:06
Reason for Halt: Pending News





SOURCE: Investment Industry Regulatory Organization of Canada (IIROC)

SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions

contact - IIROC Inquiries [phone] - * Please note that IIROC is not able to
provide any additional information regarding a specific trading halt. Information is
limited to general enquiries only.

[KaOzz]

DJ Update 3

"Ambrian analyst Werner Riding said potential suitors could include Norway's DNO International ASA (DNO.OL) or Canada's Addax Petroleum Corp. (AXC.TO). Both have assets in Kurdistan, and Addax also operates in Africa, he said. Neither company could immediately be reached for comment.

Riding said he wasn't surprised by news of merger talks. "One of the key investment rationales for Heritage was the possibility of a takeover down the line because of the quality of its assets," he said.

Panmure Gordon & Co. analyst Peter Hitchens agreed, saying Heritage's assets in Uganda and Kurdistan are "world class" and would be attractive to a major oil company.

Heritage said in May it was reviewing options to fast-track development and start production in Uganda as soon as possible. It said it had been approached by a number of parties interested in financing the needed infrastructure. Options included a development using an existing railway in east Africa, a 1,200 kilometer pipeline to Mombassa, Kenya and a refinery.

China National Petroleum Corp. and China Petroleum and Chemical Corp. (600028.SH), also known as Sinopec, have shown an interest in joining the Uganda project, a person familiar with the matter told Dow Jones Newswires last month, and there has been speculation they or other Chinese firms like PetroChina Co. Ltd. (601857.SH) might be interested in acquiring Heritage or its assets.

Hitchens said a Chinese company would be more likely to simply make a straight offer if it wanted to acquire Heritage, so a merger classed as a reverse takeover suggested it was someone else.

Malcolm Graham-Wood, director at brokerage HansonWesthouse, said Middle Eastern sovereign wealth funds might also be interested in Heritage and its assets."

[KaOzz]

[dirk2234]

Hallo,

bin seit Jahren in dem Wert (Einstand bei 0,78 EUR).
Wie könnte denn das Szenario bei einer Übernahme aussehen?

Danke für mögliche Aussagen.

Grüße

dirk2234

[KaOzz]

Antwort auf Beitrag Nr.: 37.312.942 von dirk2234 am 03.06.09 18:31:51

hei dirk!

falls Heritage übernommen werden sollte, wegen des trading halt in canada, dann gibts normalerweise nen aktienumtausch oder ne barabfindung.

Sieht aber eher nicht danach aus.


in den engl. boards wird spekuliert, dass es ne fusion geben soll...
Möglich is auch, dass ne liegenschaft verkauft wird...

aber nix genaus weiß man nich.

Das kam gerade rein:

June 3, 2009

Heritage Oil Limited: Statement re Share Price Movement
CALGARY, ALBERTA--(Marketwire - June 3, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Limited ("Heritage" or the "Company") (TSX:HOC)(LSE:HOIL) notes the recent movement in the Company's share price. The Company confirms that it is in preliminary discussions with a third party regarding a possible merger which would be treated as a reverse takeover under the Listing Rules of the UK Listing Authority if completed. No agreement has been reached between the third party and the Company and there can be no assurances that any agreement will be reached or even if reached, that any such agreement will be completed.

At the request of the Company, trading on the Main Market of the London Stock Exchange will be temporarily suspended pending an update with further information on this possible transaction which the Company shall provide in due course.

In accordance with Rule 2.10 of the Takeover Code (the 'Code'), Heritage confirms that, as at 31 May 2009, it has 257,062,088 ordinary shares and 3,024,108 exchangeable shares of no par value in issue and admitted to trading on the London Stock Exchange under the UK ISIN code JE00B2Q4TN56 and CA4269283053.

JPMorgan Cazenove Limited ('JPMorgan Cazenove'), which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for Heritage and no-one else in connection with this announcement and will not be responsible to anyone other than Heritage for providing the protections afforded to its clients or for providing advice in relation to the contents of this announcement, or for any other transaction, arrangement or matters referred to in this announcement.

Dealing disclosure requirements

Under the provisions of Rule 8.3 of the Takeover Code, if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of Heritage, all 'dealings' in any 'relevant securities' of Heritage (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of Heritage, they will be deemed to be a single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Takeover Code, all 'dealings' in 'relevant securities' of Heritage by any potential offeror or Heritage, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.

'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.

[toynet]

Heritage Oil Limited ('Heritage' or the 'Company')


Dealing disclosure requirements


Further to the announcement released today in relation to the movement in the Company's share price, Heritage would like to clarify to its shareholders that the transaction in contemplation is the acquisition by Heritage of a company that is not subject to the City Code on Takeovers and Mergers (the 'Takeover Code'). As a result, the Company is not currently in an offer period for the purposes of the Takeover Code and therefore disclosure requirements in accordance with Rule 8 are not required.



This information is provided by RNS
The company news service from the London Stock Exchange

END


Quelle http://www.investegate.co.uk/Article.aspx?id=200906031732303…


tn

[oeli01]

Antwort auf Beitrag Nr.: 37.312.942 von dirk2234 am 03.06.09 18:31:51

hi Dirk, hi KaOzz, diese Nachricht überrascht mich ebenfalls und bin total unsicher, was das zu bedeuten hat.
Ob deswegen der Kurs heute so angestiegen ist ?!?!?
Wann soll man bloß aussteigen...

[toynet]

Market points to Abu Dhabi in takeover talk as Heritage Oil shares are suspended

hier gibt es mehr:

business.timesonline.co.uk/tol/business/industry_sectors/nat…

TN

[KaOzz]

oeli,
verkaufen kannst Du zurzeit sowieso nicht.

Warte auf die News. Je nachdem, ob & was für einen Deal es gibt, wird der Markt entprechend reagieren.

---

Jetzt wird wild spekuliert und die Gerüchteküche kocht.

Offenbar sind die Verhandlungen fortgeschrittener Natur.

Ne Fusion würde eine völlig neue Bewertung verlangen.

Der times-artikel gibt sehr interessante fakten wider.

Folgendes aus:

http://blogs.ft.com/energy-source/2009/06/04/heritage-oil-in…

Heritage Oil: Industry guesses at the other party
June 4, 2009 9:47am
by Carola Hoyos

From the rumour mill somewhere on a desert highway between Abu Dhabi and Dubai: When Heritage announced yesterday that it was indeed in preliminary merger and acquisition discussions, oil industry folks began to speculate who the suitor could be.

One clue was in the statement, which noted any deal would be seen as a reverse takeover under rules of the UK, where Heritage is listed. A subsequent statement said the company concerned was “not subject to the City Code on Takeovers and Mergers”.

That prompted one banker, stuck on the outside of any deal looking in, to suggest an un-listed company was the dance partner.

A separate industry insider, also not involved and a continent away from the banker and the deal, said that he would bet on Perenco being the one. That would allow Heritage to grow and Perenco to become listed and would also most likely lead to a rights issue.

However the enlarged company’s assets would span the globe from Peru to Uganda to Iraq, so the synergies weren’t immediately clear. And then there remained the delicate challenge of working out which of the two pioneering companies’ leaders would be left sitting in the chief executive’s chair once the music stopped.

[swancorner]

In Toronto wird trotzdem gehandelt und der Kurs steht zur Zeit bei 12.39 CAD, das wären umgerechnet 7,97 EUR. Und das ist gegenüber dem letzten Kurs in Frankfurt von 6,60 EUR ein Plus von über 20%.

[oeli01]

Antwort auf Beitrag Nr.: 37.323.844 von swancorner am 04.06.09 21:40:59

verkaufen oder nicht.............

Hier was neues, die Türken steigen wohl ein:

UPDATE 1-Genel Enerji in merger talks with Heritage-sources
04 Jun 2009 - 21:11

* Genel Enerji in merger talks with Heritage Oil

* Focus on Kurdish oil field

(Adds detail, background)

By Tom Bergin and Thomas Grove

LONDON/ISTANBUL, June 4 (Reuters) - Unlisted Turkish Energy company Genel Enerji is the unnamed party in merger talks with British oil explorer Heritage Oil , sources close to the situation said on Thursday.

Heritage, which has a market capitalisation of around $2.5 billion, said on Wednesday it was in merger talks with an unnamed party, and its shares were suspended.

The company has two main assets - stakes in oil blocks in Uganda and Iraq's semi-autonomous Kurdistan region where discoveries, potentially containing billions of barrels of oil, have been made.

The tie-up talks with Genel Enerji, which is part of the Cukurova Group, one of Turkey's largest industrial conglomerates, are centered on Heritage's Miran field in Kurdistan, the sources said.

"Iraq is the focus," one source said.

Rather than buy out Heritage shareholders, Genel would contribute assets to the enlarged entity, one of the sources, who spoke on condition of anonymity, said.

The talks could prompt a bidding battle for Heritage but industry sources said there was a limited field of potential acquirers.

The government in Baghdad has described the oil deals signed by the Kurdish Regional Government as illegal and anyone investing there is effectively blocked from investing in the rest of Iraq.

Chinese state-owned oil companies which have been major buyers of oil assets internationally in recent years, are actively bidding for contracts in Iraq, as are the Western oil majors, making it unlikely they will shift their focus to Kurdistan.

Privately-owned French oil company Perenco, whose name has been linked with Heritage in the press, is not interested in buying the company, industry sources said.

Heritage's shares have soared in recent months, on the back of a major oil find at Miran.

However, some industry executives believe investors have become too optimistic about Miran given the estimate of oil in place of up to 4.2 billion barrels was based on the results of just one well.

"They could put in assets, they wouldn't need to raise cash,"

Heritage, which has its roots in Angola, was founded by Briton Anthony Buckingham, who owns around 33 percent of the company.

After Unita rebels overran one of its Angolan oilfields, Buckingham and partners including Simon Mann, who is serving 34 years for a failed coup plot in Equatorial Guinea, founded military contractors Executive Outcomes to retake the field, according the prospectus for Heritage Oil's London listing last year.

Buckingham was also a principal of another military contractor, Sandline International, but the prospectus said he has had no involvement with any military or security operations since the spring of 1998.

[summer6]

Antwort auf Beitrag Nr.: 37.323.844 von swancorner am 04.06.09 21:40:59

Moin,
wo holst Du Dir den Kurs aus Toronto von Heritage Oil??
Gruß
Summer6

[swancorner]

Antwort auf Beitrag Nr.: 37.324.964 von summer6 am 05.06.09 00:01:45

http://finance.yahoo.com/q?s=HOC.TO

[swancorner]

Antwort auf Beitrag Nr.: 37.325.466 von swancorner am 05.06.09 08:11:20

Und hier auch:
http://cxa.marketwatch.com/tsx/en/market/quote.aspx?symbol=h…

[KaOzz]

Addax hat heute ebenfalls ein Statement zu den Pressespekulationen abgegebn, dass sie sich in Fusionsgesprächen befinden.
Vielleicht heizen sie auch nur die Fantasie an.
Jedenfalls macht Addax heut nen Sprung von >10%

http://cxa.marketwatch.com/tsx/en/market/article.aspx?guid=h…" target="_blank" rel="nofollow ugc noopener">
http://cxa.marketwatch.com/tsx/en/market/article.aspx?guid=h…

[oeli01]

Antwort auf Beitrag Nr.: 37.343.823 von KaOzz am 08.06.09 15:23:19

nö, ist Genel:
http://www.ft.com/cms/s/0/33b001be-548c-11de-a58d-00144feabd…

[sailor888]

Presentation on the Proposed Acquisition of Genel Energy International:

http://www.heritageoilltd.com/pdf/Heritage_Oil_Presentation_…

[KaOzz]

Antwort auf Beitrag Nr.: 37.349.345 von oeli01 am 09.06.09 08:41:12

Ja ich weiß.

Aber ich hab ja drauf hingewiesen, dass sie mit der RNS und den aktuellen Presse-Spekulationen die Phantasie anheizen könnten...
Natürlich könnten sie sich auch derzeit tatsächlich in entsprechenden Gesprächen befinden... aber wer weiß das schon wirklich, alles klar

(nur meine Meinung)

[Akkiman]

Antwort auf Beitrag Nr.: 37.356.331 von KaOzz am 09.06.09 19:33:46

sollte es zum reverse takeover kommen, dann für meinen Geschmack viel zu früh.

[Ragulsor]

Antwort auf Beitrag Nr.: 37.365.156 von Akkiman am 10.06.09 17:14:16

Guten Abend,

ich bin noch sehr unerfahren war Aktien etc. angeht.

Aber was würde mit der Aktie bei einer Übernahme passieren?
Würde sie einfach aufgelöst werden?

Habe eine kleine Anzahl von heritage Aktien und habe mich bis jetzt über sehr hohe Gewinne gefreut ( Einstieg war bei 2,30 Euro)

Habe nun Angst das sich Die Aktie einfach auflöst durch eine evtl. Übernahme oder Zusammenführung.

Wäre sehr über einige aufklärende Worte dankbar.

mfg

[Akkiman]

Antwort auf Beitrag Nr.: 37.374.931 von Ragulsor am 11.06.09 18:50:42

man bekommt neue Aktien im Tausch gegen die alten. Fürs Finanzamt ist das wie ein Verkauf und Neukauf, d.h. die Abgeltungssteuer schlägt voll zu. Es sei denn, man verkauft vorher.

[Ragulsor]

Ah ok für die Antwort...wie schätzt ihr den, sofern die Übernahme erfolgen sollte die Chancen für die neue Aktie?

mfg

[KaOzz]

Antwort auf Beitrag Nr.: 37.380.887 von Akkiman am 12.06.09 14:05:21

hei akki,
Wenn ich micht recht erinnern kann, wird GE in Heritage integriert und mit neuen Aktien ausgezahlt. Lediglich die Firma ändert sich in HeritaGE - wer hatte nur diese brillianten Einfall...

Die Aktien, das Unternehmensmodell und der Kurs ändern sich nicht, nur die MK und die Firma.

Sollte also überhaupt keine Auswirkungen haben auf die Shares? FA sollte also kein stück vom kuchen abkriegen.

Bin erstmal skeptisch gegenüber der Fusion, aber mal sehen, was draus wird... bin derzeit nicht genau im Bilde bei HOIL

Die Fantasie ist ja jetzt auch erstmal raus, abgesehen von tollen Quatalszahlen, die jetzt noch kommen könnten.


---


RNS Number : 9052T
Heritage Oil Limited
15 June 2009




THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF ANY SUCH JURISDICTION


Heritage Oil Limited

('Heritage Oil' or the 'Company')

15 June 2009


HERITAGE OIL LIMITED ANNOUNCES A PRIMARY PLACING OF UP TO 9.8% OF ITS ISSUED ORDINARY SHARE CAPITAL


Heritage Oil Limited (LSE: HOIL, TSX: HOC) announces today its intention to place up to 25,400,000 new ordinary shares in the Company (the 'Placing Shares') to both new and existing institutional investors (the 'Placing'). The Placing Shares will represent up to approximately 9.8 per cent. of Heritage Oil's existing issued ordinary share capital and exchangeable share capital carrying a voting right in the Company.


The Placing is being conducted in accordance with the terms and conditions set out in the Appendix and will be effected by means of an accelerated book-building process to be carried out by J.P. Morgan Cazenove Limited ('J.P. Morgan Cazenove'), which is acting as sole bookrunner (the 'Bookrunner'). The timing of the closing of the book, pricing and allocations are at the discretion of Heritage Oil and J.P. Morgan Cazenove. The number of Placing Shares and the price at which the Placing Shares are to be placed (the 'Placing Price') are subject to agreement between Heritage Oil and J.P. Morgan Cazenove at the close of the book-building process. The final number of Placing Shares and the Placing Price will be announced as soon as practicable after the close of the book-building process.


The Placing Shares are, or will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of no par value in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the Closing Date (as detailed below). The Placing will be made on a non-pre-emptive basis. If all of the Placing Shares are placed, the Placing would represent an increase of approximately 9.8 per cent. of the current issued ordinary share capital and exchangeable share capital carrying a voting right in the Company.


The Company will apply for admission of the Placing Shares to the Official List of the UK Listing Authority and to trading on the main market ('Main Market') of the London Stock Exchange (together, 'Admission'). It is expected that Admission will take place and that trading in the Placing Shares will commence on 18 June 2009 (the 'Closing Date').


The Placing is conditional upon, inter alia, Admission becoming effective and the placing agreement between the Company, J.P. Morgan Securities Ltd and J.P. Morgan Cazenove not being terminated.


Attention is drawn to the Appendix to this announcement which forms part of this announcement and setting out the terms and conditions of the Placing.


Background to the Placing


Over the last eighteen months, Heritage Oil has had a series of operational successes. Drilling achievements in Blocks 1 and 3A in the Albert Basin, Uganda, mean management are now confident that sufficient volumes have been discovered to justify the development of an export solution. The multi-well exploration programme in Block 1 that began in September 2008 concluded with the transformational Giraffe discovery in January 2009. Pressure data from this discovery indicated that it is structurally connected to the Buffalo discovery bringing the estimated initial gross recoverable resources of the significant Buffalo-Giraffe field to over 350 million barrels. This field is considered by management to be the largest onshore oil field discovered in Sub-Saharan Africa in the last 20 years.


As announced on 22 December 2008, the work programme on the Miran Block in the Kurdistan Region of Iraq ('Kurdistan') was accelerated following the completion of a seismic survey in the second quarter of 2008. The Miran West-1 well reached a total depth of 2,935 metres on 25 March 2009 and encountered oil shows over an interval of 1,100 metres with excellent oil shows over the three targeted reservoir intervals. Management estimate the Miran West structure to have oil in place of between 2.3 and 4.2 billion barrels based on fracture porosity alone, from which excellent recoveries of between 50% - 70% are expected due to the highly fractured nature of the reservoirs and the lack of associated gas. From pressure data recorded during testing, management estimate flow rates of between 10,000 to 15,000 bopd per well should be achieved from the Miran West structure.


These achievements have raised the Company's profile as a significant player in the international oil and gas industry and positioned the Company for near- and long-term growth in production and reserves, which the Company believes in turn will generate shareholder value.


On 9 June 2009, Heritage Oil announced that it had entered into a non-binding Memorandum of Understanding ('MoU') with Genel Enerji A.Ş. The MoU is subject to various conditions, including the execution of binding documentation, and relates to the proposed acquisition (the 'Proposed Acquisition') of Genel Energy International Limited ('Genel'), a private independent oil and gas exploration and production ('E&P') company, which holds licences in Kurdistan. The Proposed Acquisition would be paid for by the issue of 260 million new ordinary shares of Heritage Oil and would result in Genel shareholders owning approximately 50% of the enlarged ordinary share capital of Heritage Oil. It is anticipated that following the Proposed Acquisition, the Company, as enlarged by the acquisition of Genel ('the Enlarged Group') will be re-named HeritaGE Oil plc.


Heritage Oil's management believe that the Proposed Acquisition will offer considerable shareholder value as it will create a prominent Main Market, London listed production company which should have the financial capacity to bring into production its enlarged development and exploration portfolio, create the infrastructure for the development of the Taq Taq and Miran assets in Kurdistan, while also generating significant cash flow following the commencement of oil exports on 1 June 2009.


The MoU is not legally binding in respect of its principal terms and, therefore, execution of binding documentation in relation to the Proposed Acquisition is subject to a number of conditions, as outlined in Heritage Oil's announcement on 9 June 2009. Accordingly, there can be no assurances that the Proposed Acquisition will complete or that it will complete on the terms outlined in the announcement of 9 June 2009. The Placing does not alter the terms of the Proposed Acquisition nor does it change Heritage Oil's belief that the Proposed Acquisition will offer considerable shareholder value.


Use of Proceeds


Heritage Oil will use the proceeds from the Placing to accelerate development of its core areas of focus, namely Uganda and Kurdistan, for work programmes on these and other assets and for general corporate purposes.


In Kurdistan, a second phase of testing on the Miran West-1 well is expected to commence in July 2009. Further drilling is planned on the Miran licence later in the year. In Block 1, Uganda, a further high impact exploration and appraisal drilling programme is planned to commence in the second half of 2009. An offshore drilling programme that will include the Crane and Pelican prospects in Block 3A, Uganda, is currently expected to commence in 2010.


The Placing and the use of proceeds are not conditional on the completion of the Proposed Acquisition. If the Proposed Acquisition was to complete, the Enlarged Group expects to use the proceeds of the Placing to fast track development of its assets in Kurdistan, increasing production, generating early cashflow for the Enlarged Group as well as continuing the exploration, appraisal and development programmes in Uganda. As well as further exploration, appraisal and development drilling, the Enlarged Group will consider investment in a pipeline extension from Taq Taq and Miran to the export pipeline. In addition, the Enlarged Group would also seek to fast track the construction of the Taq Taq Petroleum Refinery.



Commenting on the proposed Placing, Tony Buckingham, Chief Executive Officer said:

'Recent success in 2008 and 2009 has transformed Heritage Oil and reflects both our technical and our managerial expertise in selecting high impact exploration opportunities. This capital raising will ensure that we have the financial flexibility to continue our long-term development programme in Uganda and Kurdistan, our two core areas of focus, and pursue further opportunities to enhance the interests of our shareholders. The remainder of 2009 should continue to be very exciting with drilling and work programmes scheduled in both these core areas which have further potential continue to generate excellent value.'


- ends -

[weierHai]

Antwort auf Beitrag Nr.: 37.395.051 von KaOzz am 15.06.09 16:49:25

Hallo KaOzz,

teile deine Meinung bzgl. der steuerlichen Behandlung. Es ändert sich ja lediglich der NAme der Gesellschaft. Darüber hinaus empfinde ich es als einen Witz, daß ohne aktives Handeln des Anlegers bei einer Kapitalmaßnahme die Steuer zuschlagen kann. Als Anleger habe ich keinen Einfluß auf eine Kapitalmaßnahme wie z.B. Fusion, Übernahme...

Gibt es hier Steuerexperten, die den Sachverhalt bestätigen können?
Vielleicht gibt es auch unterschiedliche Interpretationen bei den Finanzämtern.
vielen Dank
der weißeHai

[KaOzz]

Antwort auf Beitrag Nr.: 37.398.269 von weierHai am 15.06.09 22:33:12

Ja, am besten Steuerberater konsultieren oder ne unverbindliche Auskunft beim FA verlangen, bzgl der Rechte, die man in diesem speziellen fall hat, falls die steuer doch gezogen wird. aber das ist noch die große frage, falls denn tatsächlich passiert, wovon ich aber eigentlich nicht ausgehe...

letzten endes wirds wohl daran hängen bleiben, ob sich die wkn/isin ändert.


---


Hier bei uns in D haben die Dinge sowieso komische Wege eingeschlagen.

Die AbgStr is keine langfritsstig optimale sache....

dass überhaupt über eine geplante Börsenumsatzsteuer geredet wurde, erschüttert meines Erachtens das Vertrauen in die Kompetenz der Politik...


In diesem Sinne gebe ich gern mal den Hinweis, sich zu erkundigen, ob nicht vllt doch das Konto bei einem ausländischen Broker interessanter wäre, als ein nationales.

Lynx Brokers wäre ne Adresse.
Ansonsten für hohe Ansprüche Interactive Brokers oder E-Trade, etc.

Beste Grüße


(aber alles nur meine Meinung, ich kann mich auch irren)

[Akkiman]

Antwort auf Beitrag Nr.: 37.395.051 von KaOzz am 15.06.09 16:49:25

Hallo KaOzz, ich habe mal Heritage direkt angeschrieben. Sie haben mir bestätigt, was Du geschrieben hast. Es würde also bei HOIL bleiben.

Sorry Ragulsor, ich hatte es aus der Meldung erst anders rausgelesen.

[KaOzz]

Antwort auf Beitrag Nr.: 37.415.031 von Akkiman am 17.06.09 22:31:52

June 19, 2009
Heritage Oil Announces the Results of the Annual General Meeting
CALGARY, ALBERTA--(Marketwire - June 19, 2009) -

Heritage Oil Limited ("Heritage" or the "Company") (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, announces that at its Annual General Meeting, held yesterday, all resolutions put to Shareholders were duly passed.

Set out below are the voting results in respect of the resolutions proposed at the meeting. The number of ordinary shares and exchangeable shares carrying a vote in Heritage in issue at that date was 286,443,642.

----------------------------------------------------------------------------
For Against
----------------------------------------------------------------------------
Description Votes % Votes Cast Votes
----------------------------------------------------------------------------
RESOLUTION 1 163,718,911 99.95 75,000
----------------------------------------------------------------------------
RESOLUTION 2 137,065,605 84.62 24,903,323
----------------------------------------------------------------------------
RESOLUTION 3 162,839,732 99.33 1,095,585
----------------------------------------------------------------------------
RESOLUTION 4 161,692,980 98.57 2,342,337
----------------------------------------------------------------------------
RESOLUTION 5 164,005,463 99.98 29,854
----------------------------------------------------------------------------
RESOLUTION 6 163,461,299 99.84 258,854
----------------------------------------------------------------------------
RESOLUTION 7 163,884,502 99.94 104,854
----------------------------------------------------------------------------
RESOLUTION 8 114,300,167 70.43 47,988,537
----------------------------------------------------------------------------
RESOLUTION 9 164,035,317 100.00 -
----------------------------------------------------------------------------
RESOLUTION 10 164,035,317 100.00 -
----------------------------------------------------------------------------
RESOLUTION 11 162,868,900 99.29 1,166,417
----------------------------------------------------------------------------
RESOLUTION 12 163,959,892 99.95 75,425
----------------------------------------------------------------------------


Change of name

Resolution 9 changes the name of the Company to Heritage Oil Plc. Accordingly, the website address will be changing shortly to www.heritageoilplc.com.


---


Es wird im August 2009 ein Circular veröffentlicht mir allen Details zu den formellen Änderungen für alle, die davon betroffen sind.



---------------
---------------




Hier nochmal die ziemlich wichtige Nachricht zu allen Infos der Hauptversammlung:



June 18, 2009
Heritage Oil Provides an Operational Update at Its Annual General Meeting
CALGARY, ALBERTA--(Marketwire - June 18, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Limited (LSE:HOIL), an independent upstream exploration and production company, announces an operational update to accompany its Annual General Meeting, taking place at 3:00 pm (BST) today at 22 Grenville Street, St. Helier, Jersey.

Highlights

- Proposed acquisition of Genel Energy to create a leading company in the Kurdistan Region of Iraq announced 9 June 2009

- Recent placing of 25.4 million new ordinary shares at 520p per share raising Pounds Sterling 132 million

- Second phase of testing to begin on Miran West structure in July 2009

- High impact exploration and appraisal programme to commence in Block 1, Uganda in Q4

Proposed Acquisition

As previously announced on 9 June 2009, Heritage Oil has entered into a non-binding Memorandum of Understanding ("MoU") with Genel Enerji A.S. The MoU is subject to various conditions, including the execution of binding documentation, and relates to the proposed acquisition (the "Proposed Acquisition") of Genel Energy International Limited ("Genel"), a private independent oil and gas exploration and production ("E&P") company, which holds licences in Kurdistan. The Proposed Acquisition would be paid for by the issue of 260 million new ordinary shares of Heritage Oil. It is anticipated that following the Proposed Acquisition, the Company, as enlarged by the acquisition of Genel ("the Enlarged Group") will be re-named HeritaGE Oil plc.

Genel is a private, independent E&P company in Turkey, and was awarded its first licence in Kurdistan in 2002. Genel has interests in two producing oil fields, being the joint operator of the Taq Taq field holding a 55% working interest (44% participating interest) as well as having a 25% working interest in the Tawke field. In addition, Genel owns 25% of the Miran licence (the balance of which is owned by Heritage), 40% of the Duhok licence, 40% of the Barbahar licence and a 20% interest in the Chia Surkh licence. Genel also owns the right to develop the Taq Taq Petroleum Refinery. This refinery in Kurdistan is primarily being built through the phased construction and operation of a 60,000 barrels of oil per day ("bbl/d") refinery in the vicinity of the Taq Taq and Miran oil fields. The phased construction of the refinery is expected to be completed by 2012 with 40,000 bbl/d expected to be operational in 2011.

Heritage Oil's management believe that the Proposed Acquisition will offer considerable shareholder value as it will create a prominent Main Market, London listed production company which should have the financial capacity to bring into production its enlarged development and exploration portfolio, create the infrastructure for the development of the Taq Taq and Miran assets in Kurdistan, while also generating significant cash flow following the commencement of oil exports on 1 June 2009. Net production to the Enlarged Group from Kurdistan is currently approximately 30,000 bbl/d and is estimated to be around 43,000 bbl/d by year end 2009, which should generate significant cash flow. Cash flow generation should provide the financial flexibility to fast-track development of other assets within the Enlarged Group's portfolio.

The MoU is not legally binding in respect of its principal terms and, therefore, execution of binding documentation in relation to the Proposed Acquisition is subject to a number of conditions, as outlined in Heritage Oil's announcement on 9 June 2009. Accordingly, there can be no assurances that the Proposed Acquisition will complete or that it will complete on the terms outlined in the announcement of 9 June 2009.

Based on current information, management expects the Enlarged Group to have estimated proved and probable reserves of approximately 300 million barrels of oil with multi-billion barrels of oil potential.

It is expected that the prospectus and circular will be sent to Heritage Oil shareholders in August 2009 and there will be a general meeting in September 2009.

Equity Placing

On 15 June Heritage Oil raised gross proceeds of Pounds Sterling 132 million from an equity placing of 25.4 million new ordinary shares at the placing price of 520p per share, which represented a 2.9% premium to the closing price on 12 June 2009. Funds from the placing will be used to accelerate development of the core areas of focus, namely Uganda and Kurdistan, for work programmes on these and other assets and for general corporate purposes.

The placing was not conditional on the completion of the Proposed Acquisition and nor were the terms of the Proposed Acquisition affected by the Placing. If the Proposed Acquisition was to complete, the Enlarged Group expects to use the proceeds of the Placing to fast track development of its assets in Kurdistan, increasing production, generating early cash flow for the Enlarged Group and continuing the exploration, appraisal and development programmes in Uganda. In addition, the Enlarged Group will consider investment in a pipeline extension from Taq Taq and Miran to the export pipeline and seek to fast-track the construction of the Taq Taq Petroleum Refinery.

Other Operations

The initial testing of the Miran West-1 well, in Kurdistan, concluded in May 2009 and it is expected that the second phase of testing will begin in July 2009. A further well is planned to be drilled on the Miran licence following completion of the test programme.

A further multi-well, high impact exploration and appraisal drilling programme is planned to commence in Block 1, Uganda, in the fourth quarter of this year.

Tony Buckingham, Chief Executive Officer, commented:

"These are exciting times for Heritage and our shareholders as we are on the cusp of creating a new regional giant focused on Uganda and Kurdistan. Our recent placing ensures that we have sufficient funding to accelerate our programmes in these prolific areas and continue to transform Heritage."

[Peter_Ski]

Dieser Wert verläuft derzeit seitwärts. News gibt es auch keine. Dass der Wert derzeit zurückkommt, liegt auch mit am Kurs EURO zu USD.

Hat sonst jemand Neuigkeiten?

Bis dann.

[KaOzz]

Antwort auf Beitrag Nr.: 37.585.093 von Peter_Ski am 16.07.09 13:57:23

Leitbörse ist LSE und da wird in GBP gehandelt

[Providenciales]

Guten Morgen Deutschland!!

Kurze Frage, hat es in den letzten Tagen Neuigkeiten bezüglich H. Oil gegeben, TSX gestern um 9,84% rauf?

Danke und Gruß Provo

[KaOzz]

Antwort auf Beitrag Nr.: 37.683.487 von Providenciales am 31.07.09 08:01:53

Hei Providenciales!

Wenns News gibt werden die auf der HP veröffentlicht oder auf entsprechenden Nachrichtenseiten

Ansonsten wüsste ich von nix besonders neuem.

BTW: Main Listing der Heritage ist mittlerweile an der LSE, nicht der TSX. Keine Ahung, warum die TSX Kurse sich teils so unterscheiden, dort sind aber lediglich exchangeable shares gelistet... Für genauere Infos musste mal auf der HP oder in den Filings kramen.

[KaOzz]

So mal ne kurze Einschätzung:

Heritage hat noch n paar interessante Projekte in der Pipe. Die Irakfantasie hat sich nun mit dem Reverse Merger und den Arbeiten in Kurdistan zu den aktuellen Kursen manifestiert. Das Unternehmen ist damit gut abgesichert und konsolodiert auf aktuellem Niveau, wobei ich die gefahr von Kursrücksetzern als gering einstufe und man das gegebenfalls eher als günstige Einstiegsgelenheit betrachten kann.
Die Konsolifierung ist durch das allgemeine Marktumfeld, aber auch den Merger begründet, der erstmal "verdaut" werden muss (wie es immer so schön heißt).

Weiter Infos über Genel und die Fusion folgen.

LSE: 3-mth SP




===============================================


Jeder handelt auf eigenes Risiko, keine Garantie auf Richtigkeit der gemachten Angaben. Alles nur meine Meinung.

[local hero 3]

Antwort auf Beitrag Nr.: 37.771.554 von KaOzz am 13.08.09 12:42:34

Es gibt schon was Neues (im Übrigen, ich finde die Nachricht gut!):



Kurdistan to own 17pc of enlarged Heritage Oil group
Kurdistan's regional government will acquire a 17pc stake in the $5.5bn (£3.4bn) company created by the merger of Britain's Heritage Oil and Turkey's Genel Energy later this year.

By Rowena Mason, City Reporter
Published: 6:02PM BST 04 Aug 2009

Heritage Oil
Heritage Oil, which announced a memorandum of understanding with Genel last month, has released more detailed proposals for the merged company that will focus on exploring Iraq's semi-autonomous region.

The UK-listed explorer and producer will issue 286.3m shares equal to about half of the enlarged company, with 17pc going to Kurdistan and around a third given to Genel shareholders. Mehmet Sepil, chief executive of Genel Energy, will become chief executive of the merged company.

Heritage rose 6pc initially before paring gains to trade up 11½ - 2pc - at 567p. The company plans to hold an extraordinary general meeting in September when shareholders will be asked to approve the transaction.

"Heritage's update on the proposed merger with Turkey's Genel Energy shows that the deal is moving ahead with the key issue of Genel's $1.1bn liability with the KRG now resolved," said Richard Griffith, an oil analyst at Evolution Securities.

Heritage, which is 34pc owned by Tony Buckingham, chief executive and a former mercenary and deep-sea diver, has two main assets – stakes in oil blocks in Uganda and a controlling stake in the Miran block in Kurdistan, where Genel is its partner.

Genel, which is owned by private Turkish group Cukurova, is worth $3.3bn to $3.6bn, according to Paul Atherton, Heritage's chief financial officer. Genel's Kurdish fields should generate $400m in revenues in 2010 and $600m in 2011.

Last month, Kurdistan's regional government came to an agreement with the Iraqi government over revenue-sharing that will allow oil to be exported from the area – but there are still some details to iron out.

[local hero 3]

Und noch ein Artikel über kleinere Probleme In Uganda


http://allafrica.com/stories/200908121013.html

[local hero 3]

ein ähnlicher Beitrag, der nicht so gut klingt:

KAMPALA, Uganda (Dow Jones)--Ugandan police have deployed heavily in the country's oil-rich western region in a bid to curb ethnic clashes, a police spokeswoman told Dow Jones Newswires Wednesday.

Judith Nabakoba said the police made extra deployments after clashes Tuesday between the indigenous Banyoro inhabitants of the Bunyoro region and incomers, mainly from South Western Uganda.

"Immigrants are being targeted, three cases of arson were reported yesterday," she said, adding an unspecified number of people were injured.

Police officials say the attacks are being orchestrated by guards of the king of Bunyoro, who are trying to evict incomers, accusing them of occupying kingdom land and properties. Last month the government started relocating hundreds of pastoralists who have been flocking to the region over the past two years, triggering clashes with locals in the oil-rich Bulisa district.

Commercial oil reserves were first confirmed in the region in 2006, sparking increased interest in the hitherto impoverished and remote area. The local kingdom has since been agitating for a substantial share of the oil revenues, when production starts.

Analysts have warned ethnic tensions could disrupt oil exploration and production activities. Last week, Ugandan President Yoweri Museveni suggested a new land policy be put in place in the region to protect the indigenous peoples, but activists and opposition politicians have accused the president of promoting sectarianism.

Oil exploration companies operating in Uganda include U.K.-based Tullow Oil PLC (TLW.LN), Heritage Oil Ltd.(HOIL.LN) and Tower Resources PLC (TRP.LN).

-By Nicholas Bariyo, contributing to Dow Jones Newswires; [phone]; [e-mail]

http://online.wsj.com/article/BT-CO-20090812-705204.html

[local hero 3]

Antwort auf Beitrag Nr.: 37.784.423 von local hero 3 am 14.08.09 16:57:23

noch ein älteres Gerücht (20. Juli)

London-listed oil explorer Heritage Oil is currently the subject of a potential bid interest from Royal Dutch Shell with a price of 700p per share being rumoured – the stocks is currently trading at 498p. Heritage recently had a large oil find in Kurdistan and its $6bn merger with Turkish Genel should give it the means to export the oil. IG Index is quoting 501-506.5p on its December spread.

[KaOzz]

Antwort auf Beitrag Nr.: 37.784.502 von local hero 3 am 14.08.09 17:08:55

Sehr interessante Berichte, Danke fürs reinstellen!

---

August 17, 2009
Heritage Oil Announces the Completion of Testing the Miran West-1 Discovery in the Kurdistan Region of Iraq
CALGARY, ALBERTA--(Marketwire - Aug. 17, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Plc (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, announces the completion of testing the Miran West-1 discovery in the Kurdistan Region of Iraq.

Highlights

- Testing has been completed and a flow rate of 3,640 bopd was recorded from a single reservoir interval

- The test flow rate was restricted by surface equipment capacity, with an estimated productive potential of between 8,000 and 10,000 bopd achievable when this well is placed on production

- Attempts were made to test deeper intervals but the formations were too badly damaged by the initial drilling operations

- The Miran West-1 well has been suspended as a future producer

- The Miran West-2 appraisal well is scheduled to commence drilling in the fourth quarter. This well is expected to intersect the same reservoir intervals as were encountered in the Miran West-1 well

The second phase of testing the Miran West-1 discovery has been completed and the well is being suspended as a future producer. During this second phase of testing the well flowed at a maximum rate of 3,640 bopd from a single upper reservoir layer. The rate was restricted by surface equipment capacity and the data gathered from the test indicates that the well should produce at a rate of between 8,000 to 10,000 bopd when placed on production.

Initial Miran West-1 drilling operations were designed to cope with the potential for high reservoir pressures and this resulted in the loss of drilling fluid and lost circulation material in these highly permeable fractured reservoirs. Tests on two other deeper reservoir intervals in the well were unsuccessful because of damage and contamination sustained during drilling. Consequently, the remedial measures undertaken during re-testing operations were no more effective than during the initial testing phase.

The Miran West-1 tests did confirm both the high potential well productivity and the presence of an extensive fracture network.

The rig will now move approximately 4 km north east to commence drilling the Miran West-2 appraisal well in the fourth quarter. The knowledge and experience gained from the first well will allow the Miran West-2 well to be drilled to optimally production test all reservoir intervals.

Tony Buckingham, Chief Executive Officer, commented:

"We are very encouraged by this result in a well where the lower formations were badly damaged through drilling. Miran West-1 was the first wildcat exploration well ever drilled on this licence covering two structures which together total approximately 320 square kilometres. The well had to be drilled in accordance with good oilfield practice in a region characterised by high pressure and hydrogen sulphide. We have gathered important information which will be invaluable in advancing our forward programmes on this significant discovery beginning with the Miran West-2 appraisal well."

Heritage Energy Middle East, a wholly-owned subsidiary of Heritage, is operator and holds a 75% interest in the Miran Block, with Genel Energy International Limited holding 25%. The Miran Block contains two large structures, Miran West and Miran East, which have been mapped from the 332 kilometres of excellent quality seismic data acquired by Heritage between April and June 2008.

Notes to Editors

- Heritage is listed on the Main Market of the London Stock Exchange and is a constituent of the FTSE 250 Index. The trading symbol is HOIL. Heritage has a further listing on the Toronto Stock Exchange (TSX: HOC).

- Heritage is an independent upstream exploration and production company engaged in the exploration for, and the development, production and acquisition of, oil and gas in its core areas of Africa, the Middle East and Russia.

- Heritage has a producing property in Russia and exploration projects in Uganda, the Kurdistan Region of Iraq, the Democratic Republic of Congo, Malta, Pakistan, Tanzania and Mali.

- For further information please refer to our website, www.heritageoilplc.com

[adeon]

Aktueller Bericht auf n-tv

http://www.n-tv.de/wirtschaft/Oelfunde-in-Uganda-article4802…

Wirtschaft

Freitag, 28. August 2009
An der Grenze zum Kongo
Ölfunde in Uganda
Jubel in der ugandischen Hauptstadt Kampala: Die Erdölvorkommen des ostafrikanischen Binnenstaates könnten nach Schätzungen von Wissenschaftlern bis zu sechs Milliarden Barrel (je 159 Liter) betragen.

Bohrtürme wie dieser ragen in den afrikanischen Himmel: Noch ist unklar, wie das Land mit seinem neuen Rohstoffsegen umgeht.
(Foto: REUTERS)

"Von 34 Bohrlöchern stießen 32 auf Öl oder Gas", zitierte die staatliche Zeitung "New Vision" einen Beamten des Energieministeriums.

Gebohrt wurde im Nordosten Ugandas an der Grenze zum Kongo, wo 2006 erstmals Ölvorkommen entdeckt worden waren. Ein Vorkommen von zwei Milliarden Barrel gilt nach Angaben der Geologen bereits als gesichert. Es werde jedoch vermutet, dass insgesamt sechs Milliarden Barrel Öl im Boden lagern.

Damit würde Uganda knapp an die Ölvorkommen des Sudan heranreichen und die west- und zentralafrikanischen Länder Gabun, Tschad und Äquatorialguinea übertreffen. In Uganda leben rund 30 Millionen Menschen.

Gruß adeon

[VFBLER]

hi,hab seit langen mal wieder nach heritage oil geschaut.
wieso ist der kurz von 70 auf 10 dollar abgeschmiert?
hätte vielleicht doch wieder intersse zu investieren.
kann mich jemand aufklären?

gruß

[Coxos]

hä??

[ducatiman]

Heritage Oil Provides Update on Iraq Operations
19 October 2009

Heritage Oil Plc, an independent upstream exploration and production company, provides the market with information in relation to the Taq Taq oil field in the Kurdistan Region of Iraq ("Kurdistan") and an update on the proposed acquisition of Genel Energy International Ltd ("Genel"). Further to its announcement on 5 October 2009, Heritage issues this announcement in part to comply with its obligations under the FSA Disclosure and Transparency Rules in relation to the Taq Taq licence in which Genel has an interest.

Heritage understands that since 14 October 2009, all production from the Taq Taq oil field has been diverted into the local market. Production for export has ceased, in coordination with the other operators in the region, and export production is not expected to recommence until a payment mechanism is in place. Exports commenced on 1 June 2009, so far no revenue has been received for any exported production and none is expected until there is an agreement on the payment mechanism between the Federal Government of Iraq and the Kurdistan Regional Government.

According to Genel, the current gross production capacity of the Taq Taq oil field is approximately 35,000 bopd which is expected to increase to approximately 60,000 bopd by the end of December 2009 as new production facilities are completed. Average gross production for the Taq Taq oil field in September 2009, according to Genel, was 29,580 bopd, of which approximately 52% was sold into the domestic market, in part driven by the opening of the Erbil refinery in July. Current local demand for oil products in Kurdistan, as estimated by Douglas-Westwood Limited, an independent provider of business research and analysis, is approximately 130,000 bpd and this has historically been met through imports from neighbouring countries or other parts of Iraq.

Elections took place in Kurdistan at the end of July and a new government is in the process of being formed. A caretaker government is currently in place whilst the new Prime Minister forms his government, which is expected to be completed by early November. Heritage and Genel continue to monitor progress on the formation of the new government and expect formal approval of the proposed transaction once the new oil and gas committees are formally appointed, together with an understanding of the pricing and payment mechanism which is to be established for international sales from Kurdistan.

In addition, Heritage understands the FSA investigation previously disclosed continues and that the parties concerned are assisting with the FSA's enquiries. Heritage confirms that discussions with Genel are continuing with the terms of the merger nearing formal agreement. Both sides remain committed to successfully completing the proposed transaction, however the transaction is taking longer to conclude than had originally been estimated. We hope the implementation agreement can be signed and the prospectus published before the end of the year.

Tony Buckingham, Chief Executive Officer, commented:
"The understanding we have obtained in the past few months of the Genel assets and the domestic market for petroleum products in Kurdistan means that we remain committed to the Genel Energy merger.

It will create a leading company with oil production, exploration and refining capacity in the Kurdistan Region and is expected to generate significant value for shareholders as well as substantial tax revenues for the people of Iraq. The transaction is taking longer to conclude than both parties had originally planned, however we believe the implementation agreement can be signed and the prospectus published by the end of the year."

[ducatiman]

19.10.2009 08:26
BRIEF-Heritage Oil says Genel merger delayed
LONDON, Oct 19 (Reuters) - Heritage Oil PLC:

* Says Genel merger is taking longer to conclude than planned

* Says both sides remain committed to completing merger

* Says exports from Taq Taq field ceased October 14

* Says still helping FSA with probe

* Says exports to restart when payment deal with Baghdad agreed

* Says hopes agreement can be signed and the prospectus published before the

end of the year

((London Equities Newsroom; [phone]))


(For more news, please click here)


COPYRIGHT


Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

[ducatiman]

From Times Online October 19, 2009

Heritage Oil admits delay to deal with GenelRobert Lindsay

Recommend?
Heritage Oil, the oil explorer in the Kurdish region of Iraq, today said that its long-mooted merger with Genel Enerji of Turkey was taking longer than expected to conclude but that it hoped to sign a deal before the end of the year.

The company had expected to publish a prospectus this month ready for agreement of the merger in November but a spokesman said that the Kurdistan Regional Government, which will hold 20 per cent of the merged entity, was taking longer than expected to elect a cabinet that could sign off the deal.

The delay is just the latest in a series of complications that Heritage has encountered in bringing the deal to fruition.

The Financial Services Authority, the City regulator, is still investigating some members of Genel's management team who will take roles in the management of the combined company.

Related Links
Kurds suspend oil exports by Norwegian company
Big stake for Iraqi Kurds in Heritage Oil
Heritage deal to put Buckingham in top flight
And a dispute between the Kurds and the Iraqi national government in Baghdad over sharing revenue from oil exports has escalated with the Kurdish authorities stopping all oil exports last week, cutting cashflows for Genel, which operates the Taq Taq field in the region.

Heritage said it "understands that since October 14, all production from the Taq Taq oil field has been diverted into the local market. Production for export has ceased, in co-ordination with the other operators in the region, and export production is not expected to recommence until a payment mechanism is in place."

As a result, Genel will receive revenues but at lower prices than the international spot prices it had been receiving.

Meanwhile, Genel and other oil field operators in the region expect no revenue from earlier oil exports until Baghdad and the Kurdish government agree on a revenue-sharing deal.

Heritage shares eased 4.5p to 530p.

Heritage insisted that both it and Genel "remain committed to successfully completing the proposed transaction". It added: "However, the transaction is taking longer to conclude than had originally been estimated. We hope the implementation agreement can be signed and the prospectus published before the end of the year."

Analysts said that shares in Heritage would probably continue to tread water until the two governments could agree a revenue-sharing mechanism, which would be unlikely until after the Iraqi general elections next January.

[sailor888]

November 23, 2009
Heritage Oil Enters Into a Letter of Intent to Sell Its Ugandan Interests for Up to US$1.5 Billion
CALGARY, ALBERTA--(Marketwire - Nov. 23, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Heritage Oil Plc (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, announces that a wholly owned subsidiary has entered into a binding letter of intent ("LOI"), with Eni S.p.A ("Eni") for the sale of its entire interests in Blocks 1 and 3A in Uganda. Completion is subject to the receipt and satisfaction of certain approvals and conditions and to negotiating the terms and conditions of a sale and purchase agreement. The consideration comprises cash of US$1.35 billion and a further contingent, deferred consideration of either US$150 million in cash or an interest in a mutually agreed producing field independently valued at a similar amount (the "Proposed Transaction").

As a result of entering into the LOI with Eni, discussions with Genel Energy International Limited ("Genel") in relation to the proposed acquisition of Genel have been terminated.

Highlights

- Cash consideration on closing the transaction of US$1.35 billion
- Additional consideration of either US$150 million in cash or an interest
in a producing field, to be mutually agreed and independently valued at
a similar amount, provided certain conditions are met
- The Proposed Transaction has been approved in principle by the Board of
Heritage, subject to various conditions, the execution of a binding sale
and purchase agreement and approval from the Ugandan authorities
- Class 1 shareholder circular, which will include a Mineral Experts
Report on the Company's material assets, is expected to be published
within two months
- Transaction is expected to complete in the first quarter of 2010
- Following completion, Heritage will consider returning a portion of the
disposal proceeds to shareholders in the form of a special dividend,
which could be in the range of 75 pence to 100 pence per share
- Heritage will retain an interest in the Albert Basin through its
interests in Blocks 1 and 2 in the Democratic Republic of Congo, which
are currently awaiting presidential decree
- Discussions with Genel have been terminated


Summary of the Proposed Transaction

Eni proposes to acquire Heritage's 50% working interest in Blocks 1 and 3A in Uganda and be appointed operator, for a cash consideration of US$1.35 billion to be paid on completion, which is subject to certain approvals and consents and negotiating the terms and conditions of a sale and purchase agreement. This is expected to complete in the first quarter of 2010. In addition, Eni will pay a further consideration of either US$150 million in cash or an interest in a producing field independently valued at a similar amount on the satisfactory completion of certain conditions within two years. It is currently anticipated that negotiations regarding the further consideration could be completed during the first half of 2010.

A shareholder circular, which will include a Mineral Experts Report, describing the Proposed Transaction is being prepared and is expected to be published within two months. Completion of the Proposed Transaction is subject to the approval of a majority of Heritage's shareholders voting at a general meeting to be called by Heritage at an appropriate time in the New Year.

Under the terms of the LOI, Heritage has granted Eni an exclusivity period of 60 days for the parties to reach agreement on the terms of a binding sale and purchase agreement ("SPA"). During this period Heritage is prevented from soliciting any other competing proposals.

Heritage has agreed to pay Eni a break fee of 1% of the market capitalisation of the Company in the event that Heritage accepts a competing offer from a third party during this exclusivity period.

Approvals and Consents

Execution of binding documentation and then completion of the Proposed Transaction is subject to, among other things: (i) the respective parties conducting confirmatory due diligence; (ii) the parties executing a SPA; (iii) the approval of a majority of Heritage's shareholders voting at a general meeting to be called at the appropriate time; and (iv) approval from the Ugandan Governmental authorities. Accordingly, there can be no assurances that the Proposed Transaction will complete or that it will complete on the terms outlined in the LOI or herein.

The Government of Uganda has been consulted on the Proposed Transaction and has indicated its support for Eni's proposed entrance into the oil industry in Uganda.

Use of Proceeds

Assuming the Proposed Transaction completes, Heritage will continue to have operations in seven countries and will use some of the disposal proceeds in the exploration, appraisal and development of these areas, in particular in the Kurdistan Region of Iraq ("Kurdistan") which remains a core area of focus. Heritage has a producing property in Russia and exploration projects in Kurdistan, the Democratic Republic of Congo, Malta, Pakistan, Tanzania and Mali. The Company plans to embark on drilling programmes in certain of these territories next year, with a number of high-impact exploration wells which could continue to generate significant value for shareholders.

Furthermore, the proceeds will provide Heritage with the financial flexibility to participate in opportunities to generate further value for shareholders, including the acquisition of producing assets.

The Company is also considering returning a portion of the disposal proceeds to shareholders through a special dividend on completion of the transaction, which could be in the range of 75 pence to 100 pence per share. In the event that the dividend is paid, Heritage would expect to still have a cash position of over US$1 billion.

Proposed Acquisition of Genel

Following entry into the LOI with Eni, and in light of the continuing situation in Kurdistan where, in particular, the revenue payment mechanism for oil exports has not yet been established, discussions with Genel have been terminated.

Heritage remains committed to being one of the leading oil companies operating in Kurdistan and will continue to consider other opportunities in this region as and when they arise.

Information Regarding Blocks 1 and 3A in Uganda

Since the discovery of the Kingfisher Field in 2007, six wells have been drilled in Blocks 1 and 3A, which have discovered approximately 300 million barrels net to the Company. Heritage has spent approximately US$150 million on its oil and gas interests in Uganda, since being awarded its first licence in 1997.

Tony Buckingham, Chief Executive Officer, commented:

"Following a strategic review, we have decided to enter into this letter of intent with Eni as we recognise the very large multi-billion dollar investment which is required to develop the Albert Basin and the related infrastructure. Heritage has had remarkable operational success in Uganda as a result of technical excellence and first mover advantage. We believe the Proposed Transaction will crystallise significant value for shareholders, demonstrating our ability to monetise assets at an appropriate stage.

The disposal proceeds would provide Heritage with significant financial flexibility to accelerate our existing exploration and development programmes, participate in value generating opportunities as and when they arise, as well as give us the ability to pay a special dividend to shareholders."

[Peter_Ski]

Wäre ja schön, alleine mir fehlt mittlerweile der Glaube, nachdem der Wert doch ziemlich unter die Räder gekommen ist.

Hat jemand Neuigkeiten?

[Coxos]

http://maximumprofit.wordpress.com/

[ducatiman]

Heritage Oil Notice of Bondholder Meeting




Heritage Oil Plc

("Heritage" or the "Company")

Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company, announces that its wholly owned indirect subsidiary, Heritage Oil Corporation ("HOC") intends, in accordance with the Paying and Conversion Agency Agreement dated 16 February 2007 between HOC and The Bank of New York Mellon (the "Agent"), as amended by a Deed of Amendment dated 31 March 2008 between HOC, the Agent and the Company (together, the "Agency Agreement") and the terms of the U.S. $165,000,000 8.00 per cent. Convertible Bonds 2012 issued by HOC constituted thereby (ISIN: XS0280247114) (the "Bonds"), to convene a meeting of the holders of the outstanding Bonds (the "Bondholders") to be held at the Company's offices, Fourth Floor, Windward House, La Route de la Liberation, St Helier JE2 3BQ, Jersey, Channel Islands at 10.00 a.m. GMT on 31 December 2009 (the "Bondholder Meeting"). A notice (the "Notice") will be issued by HOC to Bondholders today to convene the Bondholder Meeting. The Notice is set out below in full.

Introduction

The Company announced on 23 November 2009 that a wholly owned subsidiary had entered into a binding letter of intent with Eni S.p.A for the sale of the Company's entire interests in Blocks 1 and 3A in Uganda. The consideration comprises cash of US$1.35 billion and a further contingent, deferred consideration of either US$150 million in cash or an interest in a mutually agreed producing field independently valued at a similar amount (the "Proposed Transaction"). The Company also announced that it is considering returning a portion of the disposal proceeds to shareholders through a special dividend on completion of the Proposed Transaction, which could be in the range of 75 pence to 100 pence per share. The Proposed Transaction is subject to, among other things, the parties agreeing the terms of a binding sale and purchase agreement.

Purpose of Bondholder Meeting

Under the Terms and Conditions of the Bonds, the Company is restricted from making or declaring a dividend or making any other distributions to its shareholders which constitutes on a consolidated basis more than 30 per cent. of its earnings for the immediately preceding financial year. As the Proposed Transaction is not expected to complete until some time during the first quarter of 2010, the Company would be restricted from making a dividend payment of a portion of the disposal proceeds until after the annual audited consolidated accounts for the financial year ended 31 December 2010 have been published. The extraordinary resolution to be proposed at the Bondholder Meeting (the "Resolution") would remove this restriction so that, should the Proposed Transaction, or any transaction on substantially the same terms as the Proposed Transaction entered into with another party in respect of the same assets (a "Substitute Transaction"), complete, the Company would be able make a dividend during 2010 if it considers it appropriate.

In consideration for Bondholders agreeing to remove this restriction by deleting Condition 3(a) of the Terms and Conditions of the Bonds, the Company agrees to pay to those Bondholders who vote on the Resolution at the Bondholder Meeting, in accordance with the Terms and Conditions of the Bonds and the Agency Agreement, the sum of US$2,000.00 per US$100,000 of Bonds held by such Bondholders (the "Amendment Fee"), such sum to be paid conditional on and within 21 days of the passing of the Resolution.

Also as part of the Resolution, Bondholders are being asked to waive any adjustment to the conversion price under the Terms and Conditions of the Bonds that could otherwise arise in connection with the declaration of any dividend on or before 30 June 2010 following completion of, and in connection with, the Proposed Transaction or any Substitute Transaction. In consideration for waiving such adjustment, the Company will, in the event that such a dividend is declared, pay to Bondholders holding Bonds at the dividend record date the dividend they would be entitled to receive as if they had converted their Bonds into Ordinary Shares according to the prevailing conversion price as at such record date.

If the Resolution is not passed at the Bondholder Meeting, or the Bondholder Meeting does not take place through a lack of quorum or for any other reason, the Company intends, by the close of business on 31 December 2009, to change its accounting reference date to extend the financial year into 2010 in order that completion of the Proposed Transaction (or any Substitute Transaction) can be recognised in the current financial period, enabling a distribution to be made to shareholders in 2010, should the Company consider this appropriate. If the Bondholder Meeting is not quorate, it will be adjourned and a further notice published explaining when the Bondholder Meeting will resume; however, in this event the Resolution would not be tabled at the adjourned Bondholder Meeting. In such circumstances, the Company will not pay the Amendment Fee to Bondholders and Bondholders would not be entitled to participate in any dividend made by the Company save to the extent of any adjustments to the conversion price under the Terms and Conditions of the Bonds.

The full text of the Notice is set out below:

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF BONDHOLDERS. IF BONDHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN STOCKBROKER, BANK MANAGER, SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT PROFESSIONAL ADVISERS IN THE UNITED KINGDOM OR IF NOT, SEEK ANOTHER APPROPRIATELY AUTHORISED INDEPENDENT FINANCIAL ADVISER IMMEDIATELY.

HERITAGE OIL CORPORATION
(the "Company")

NOTICE OF BONDHOLDER MEETING

NOTICE IS HEREBY GIVEN that, pursuant to the provisions of the U.S.$ 165,000,000 8.00 per cent. Convertible Bonds due 2012 issued by the Company (ISIN: XS0280247114) (the "Bonds") and the Paying and Conversion Agency Agreement dated 16 February 2007 made between the Company and The Bank of New York Mellon (the "Agent"), as amended by a Deed of Amendment dated 31 March 2008 between the Company, the Agent and Heritage Oil Plc ("Heritage Oil") (together, the "Agency Agreement") by which the Bonds are constituted, a meeting of the holders of the Bonds (the "Bondholders") is convened by the Company to be held at the offices of Heritage Oil, Fourth Floor, Windward House, La Route de la Liberation, St Helier JE2 3BQ, Jersey, Channel Islands on 31 December 2009 at 10.00 a.m. GMT (the "Meeting") for the purpose of considering and, if thought fit, passing the following resolution which will be proposed as an Extraordinary Resolution in accordance with the provisions of the Agency Agreement and the Bonds.




EXTRAORDINARY RESOLUTION

"THAT THIS MEETING (the "Meeting") of the holders (the "Bondholders") of the U.S.$ 165,000,000 8.00 per cent. Convertible Bonds due 2012 issued by Heritage Oil Corporation (the "Company") (the "Bonds") constituted by a Paying and Conversion Agency Agreement dated 16 February 2007 made between the Company and The Bank of New York Mellon, as amended by a Deed of Amendment dated 31 March 2008 between the Company, The Bank of New York Mellon and Heritage Oil Plc, HEREBY:

MODIFICATION

(a) Assents to the modification and variation of the Conditions by the deletion in its entirety of Condition 3(a);

(b) Assents to the reclassification of the current Conditions 3(b) and 3(c) to Conditions 3(a) and 3(b) respectively;

(c) Waives any adjustment to the Conversion Price pursuant to Condition 6(b)(ii) in respect of any special or extraordinary dividend, return of value to Shareholders or other distribution which may be made or declared by the Company on or before 30 June 2010 in connection with the proposed disposal by Heritage Oil Plc of its entire interests in Block 1 and Block 3A, Uganda pursuant to the proposed transaction with Eni S.p.A. announced by Heritage Oil Plc on 23 November 2009 or pursuant to any transaction on substantially the same terms entered into with another party in respect of such assets, and assents to the modification and variation of the Conditions in respect of such waiver;

ADMINISTRATIVE MATTERS

(d) Authorises, directs, requests and empowers the Agent to concur in, and to execute and do, all such other deeds, instruments, acts and things and to take steps as may be necessary or desirable to carry out and give effect to the Extraordinary Resolution passed at this Meeting; and

(e) Exonerates, discharges and holds harmless the Agent from all liability to the Bondholders and any other person in respect of any act or omission for which the Agent may have become responsible by reason of its acting in accordance with this Extraordinary Resolution or making any determination or exercising (or, as the case may be, not exercising) any power or right conferred pursuant to, or arising out of, this Extraordinary Resolution.

Except as otherwise defined, words and expressions used in this Extraordinary Resolution shall have the meanings given to them in the Agency Agreement."




Further information concerning the Extraordinary Resolution, in particular in respect of Heritage Oil's proposed arrangements with Bondholders in connection with the successful passing of the Extraordinary Resolution and its intentions should the Extraordinary Resolution not be passed, is contained in an announcement (the "Announcement") issued by Heritage Oil and dated today's date. Should the Extraordinary Resolutions be passed:

● Heritage Oil will, within 21 days of the passing of the Extraordinary Resolution, pay to those Bondholders who vote on the Extraordinary Resolution the sum of U.S.$ 2,000.00 per U.S.$100,000 of Bonds held by such Bondholders; and

● If Heritage Oil declares a dividend on or before 30 June 2010, in the event of and following completion of the Proposed Transaction or a Substitute Transaction (as referred to in the Announcement), Heritage Oil will pay to Bondholders holding Bonds at the dividend record date the dividend they would be entitled to receive as if they had converted their Bonds into Ordinary Shares of Heritage Oil according to the prevailing conversion price as at such record date.

If the Extraordinary Resolution is not passed, or the Meeting does not take place through a lack of quorum or for any other reason, Heritage Oil intends, by the close of business on 31 December 2009, to change its accounting reference date to extend the financial year into 2010 in order that the completion of the Proposed Transaction (or a Substitute Transaction) can be recognised in the current financial period enabling a distribution to be made to shareholders in 2010, should Heritage Oil consider this appropriate. If the Meeting is not quorate, it will be adjourned and a further notice published explaining when the Meeting will resume; however, in this event the Extraordinary Resolution would not be tabled at such adjourned Meeting. In such circumstances, Heritage Oil would not make the payment to Bondholders described above and Bondholders would not be entitled to participate in any dividend made by Heritage Oil save to the extent of any adjustments to the conversion price under the Terms and Conditions of the Bonds.

Copies of the Announcement and the Agency Agreement will be available for inspection at the office of McCarthy Tétrault, 2nd Floor, 5 Old Bailey, London EC4M 7BA, the Company's solicitors, during normal business hours.

Capitalised terms used but not otherwise defined in this Notice shall have the meanings ascribed to them in the Terms and Conditions of the Bonds set out in the Agency Agreement.

In accordance with the usual practice, the Agent expresses no opinion on the merits of the Extraordinary Resolution set out above. The Agent has not verified any of the statements made in this Notice, the Announcement or in any of the other documents referred to above.




ATTENDANCE, VOTING AND QUORUM

1. Meetings Provisions: the provisions governing the convening and holding of the Meeting are set out in Schedule 5 (Provisions for Meetings of Bondholders) to the Agency Agreement, copies of which are available for inspection as specified above.

2. Attendance in Person: the Bonds are currently represented by a Global Bond. A Bondholder wishing to attend and vote at the Meeting in person must produce at the Meeting a valid voting certificate issued by the Agent relating to the Bond(s), in respect of which he wishes to vote. A voting certificate is available on request from the Agent. Any Bondholder requesting a voting certificate will only be provided with such voting certificate where such Bondholder has also submitted instructions through the clearing systems in the normal way to ensure that the Bond(s) held by such Bondholder have been blocked in an account at the clearing systems to the order of the Agent pending the conclusion of the Meeting or any adjournment of the Meeting.

3. Attendance by Proxy: a Bondholder not wishing to attend and vote at the Meeting in person may EITHER apply for a voting certificate as outlined above, and deliver such voting certificate to the person whom he wishes to attend on his behalf OR request the Agent to attend the Meeting on his behalf and cast the votes relating to his Bonds as he directs.

4. Instructions: any Bondholder wishing to request the Agent to attend the Meeting on their behalf should give appropriate instructions through the clearing systems in the normal manner, and ensure that the Bonds held by such Bondholder have been blocked in an account at the clearing systems to the order of the Agent pending the conclusion of the Meeting or any adjournment of the Meeting. Voting instructions should specify clearly whether the Bondholder wishes to vote in favour of or against the Extraordinary Resolution. Prior to the Meeting, the Paying Agent will issue a block voting instruction in respect of all Bonds in respect of which it has received instructions, nominating named individuals to attend the Meeting (or any adjourned meeting) and specifying the number of votes to be cast in favour of the Extraordinary Resolution and the number of votes to be cast against the Extraordinary Resolution. Bondholders must allow sufficient time for compliance with the standard posting procedures of the clearance systems in order to ensure delivery of their instructions to the Agent in a timely fashion.

Any Bondholder wishing to participate at the Meeting, either by attending in person or by instructing the Agent to attend on his behalf, must have given the relevant instructions not later than 48 hours before the time appointed for holding the Meeting (or the preceding business day, if the expiry of such 48 hour period falls on a non-business day) (or, if applicable, any adjournment of such Meeting). In respect of the Meeting, this deadline is 10.00 a.m. on 29 December 2009 (the "Voting Deadline"). Bonds held to the order of the Agent will not be released until the earlier of the conclusion of the Meeting or, if applicable, any adjournment of such Meeting. Voting instructions may not be revoked in the period from the Voting Deadline to the commencement of the Meeting.

5. Quorum: no business may be transacted at the Meeting unless the Meeting is quorate. The Meeting will be quorate if one or more Bondholders are present or represented by the Agent representing or holding at least 75% of the aggregate principal amount of the Bonds. If the quorum is not achieved, the Meeting will be adjourned and a further notice will be sent explaining when the Meeting will resume, and the quorum requirements that will apply when the Meeting resumes. Note, however, that for reasons set out above and in the Announcement, the Extraordinary Resolution will be not be tabled at any such adjourned Meeting.

6. Voting: as further set out in the Agency Agreement, at the Meeting (i) on a show of hands, every person who is present in person and produces a voting certificate or is a proxy under a block voting instruction shall have one vote and (ii) on a poll, every person who is so present shall have one vote in respect of each Bond represented by the voting certificate or block voting instruction in respect of which he is a proxy.

7. Passing of Extraordinary Resolution: to be passed, the Extraordinary Resolution shall be adopted in respect of the Bonds by a majority of not less than three-quarters of the votes cast by Bondholders present or represented at the Meeting. If passed, the Extraordinary Resolution will be binding on all the Bondholders, whether or not present at the Meeting and whether or not voting.

8. Further Information: Requests for voting certificates and questions or requests for assistance in connection with the submission or delivery or revocation of instructions through the clearing systems may be directed to the Agent (attention: Andrew Rogers) at:

The Bank of New York Mellon
Corporate Trust Administration
40th Floor
1 Canada Square
Canary Wharf
London E14 5AL

Tel: [phone]
Fax: [phone]
Email: [e-mail]

Holders of Bonds which are held by a clearing system should contact the relevant corporate action departments within the relevant clearing system for further information in respect of their respective procedures for voting.




This notice is given by
HERITAGE OIL CORPORATION
in its capacity as issuer
of the Bonds

Dated: 9 December 2009

- ends -




For further information please contact:




Heritage Oil Plc

Tony Buckingham, CEO / Paul Atherton, CFO

[phone]

[e-mail]




Heritage Oil Plc - Investor Relations

Tanya Clarke

[phone]

[e-mail]




Bell Pottinger Corporate & Financial - PR - Europe

Nick Lambert

[phone]

[e-mail]




CHF Investor Relations - Investor Relations - Canada

Cathy Hume / Jeanny So

[phone] x231 / x239

[e-mail] / [e-mail]




Notes to Editors




Heritage is listed on the Main Market of the London Stock Exchange and is a constituent of the FTSE 250 Index. The trading symbol is HOIL. Heritage has a further listing on the Toronto Stock Exchange (TSX: HOC).



Heritage is an independent upstream exploration and production company engaged in the exploration for, and the development, production and acquisition of, oil and gas in its core areas of Africa, the Middle East and Russia.



Heritage has a producing property in Russia and exploration projects in Uganda, the Kurdistan Region of Iraq, the Democratic Republic of Congo, Malta, Pakistan, Tanzania and Mali.



For further information please refer to our website, www.heritageoilplc.com






This press release is not for distribution to United States Newswire Services or for dissemination in
the United States.




If you would prefer to receive press releases via email please contact Jeanny So ([e-mail]) and specify "Heritage press releases" in the subject line.




FORWARD-LOOKING INFORMATION:




Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding production estimates and future plans and objectives of Heritage - constitute forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves and recoveries; production and operating cost assumptions; development risks and costs; the risk of commodity price fluctuations; political and regulatory risks; and other risks and uncertainties as disclosed under the heading "Risk Factors" in its Prospectus and elsewhere in Heritage documents filed from time-to-time with the London Stock Exchange and other regulatory authorities. Further, any forward-looking information is made only as of a certain date and the Company undertakes no obligation to update any forward-looking information or statements to reflect events or circumstances after the date on which such statement is made or reflect the occurrence of unanticipated events, except as may be required by applicable securities laws. New factors emerge from time to time, and it is not possible for management of the Company to predict all of these factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information.








This information is provided by RNS
The company news service from the London Stock Exchange

END

[ducatiman]

Die wohl schillerndste Ölfirma der Welt, groß geworden im Zusammenhang mit britischen Söldneraktivitäten in Afrika, streicht durch den Verkauf afrikanischer Ölinteressen einen Milliardengewinn ein.

Die britische Heritage Oil bestätigte gestern den Verkauf ihrer Anteile an zwei Ölfeldern in Uganda an die italienische ENI für 1,35 Milliarden US-Dollar plus weiteren 150 Millionen in bar oder als Anteil, umgerechnet also 1 Milliarde Euro.

Anzeige
Heritage-Chef Tony Buckingham, einst britischer Elitesoldat, Gründer und 33-Prozent-Anteilseigner der Firma, kann nach Presseberichten durch eine zu erwartende Sonderdividende mit einer Ausschüttung von bis zu 84 Millionen Pfund (95 Millionen Euro) rechnen. Er wäre der Erste, der fett an Ugandas Öl verdient – lange vor den Ugandern selber.

Die 1992 gegründete Heritage Oil machte in den 1990er-Jahren Schlagzeilen, als Buckingham südafrikanische Söldner anheuerte, um Förderanlagen in Angola vor Rebellen zu schützen. Im Jahr 2002 erwarb sie eine Ölförderoption auf Kriegsgebiete in der Demokratischen Republik Kongo, was den Krieg dort anheizte.

Ölsuche im Kongo hat bis heute nicht stattgefunden, sondern Heritage bohrt in Uganda sowie unter dem zwischen beiden Ländern geteilten Albertsee. Dafür arbeitet die Firma mit der größeren Tullow Oil zusammen.

Nach einer Reihe spektakulärer Ölfunde werden Ugandas Ölreserven heute auf mehrere Milliarden Barrel geschätzt. Förderbeginn ist 2010. Präsident Yoweri Museveni, seit 1986 an der Macht, will sich deshalb 2011 unbedingt wiederwählen lassen.

Heritage Oil hält 50-Prozent-Anteile an zwei der drei produktivsten Ölförderkonzessionen in Uganda, "Block 1" und "Block 3A" an der Nord- und Südspitze des Albertsees. Auf einer Öltagung in Ugandas Hauptstadt Kampala führte die Firma im September aus, die Prospektion solle ab Jahresende ausgedehnt werden, mit zehn neuen Bohrungen zusätzlich zu den bestehenden 28.

Davon ist das Naturschutzgebiet Murchison Park betroffen, was Ugandas Umweltschützer ärgert. Bei der Tagung, auf der die britische Organisation International Alert eine Studie zu Ölkonflikten in Uganda präsentierte, übte die Verwaltung des Distrikts Amuru scharfe Kritik an Heritage Oil, das die staatliche Verwaltung übergehe und zugesagte Sozialleistungen nicht liefere. "Die Regierung hat eine sehr gute Politik, aber ihre Umsetzung ist sehr minimal", so Amurus Distriktchef Patrick Okello Oryema.

Ugandische Medien kritisieren, dass die Regierung die Verträge mit den Ölfirmen unter Verschluss hält. Am Wochenende veröffentlichten Zeitungen geheime Einzelheiten aus dem Vertrag mit Heritage Oil, wonach Ugandas Staat nicht wie öffentlich behauptet mindestens zwei Drittel der Öleinnahmen bekommen soll, sondern möglicherweise weniger als die Hälfte.

Das und die Aussicht auf eventuelle weitere große Ölfunde machen Ugandas Ölgebiete langfristig äußerst attraktiv. Mit ENI aus Italien steigt jetzt erstmals ein internationaler Großinvestor ein. Heritage kommt mit dem Verkauf an die Italiener seinem Partner und Rivalen Tullow Oil hervor, der sich ebenfalls Hoffnungen auf hohe Profite aus einer Veräußerung an ENI gemacht hatte. Es gilt als möglich, dass Tullow sich jetzt chinesischen Käufern zuwendet.

Das ENI-Geschäft soll 2010 abgeschlossen werden, und Heritage Oil wird nach eigenen Angaben daraus 1 Milliarde Dollar Cash erhalten. Damit will der Konzern seine Aktivitäten in Irakisch-Kurdistan ausbauen, "ein Kerngebiet".

Eine erst im Juni vereinbarte Fusion von Heritage Oil mit der ebenfalls in Irakisch-Kurdistan aktiven türkischen Ölfirma Genel sei nun vom Tisch. Die Ölverträge der Kurden mit ausländischen Investoren sind Iraks Zentralregierung ein Dorn im Auge, die Exporte sind derzeit eingestellt, und die alten Verbindungen zwischen Heritage und Söldnerfirmen könnten sich da noch als nützlich erweisen.

[sailor888]

Bei einer MK von ca. 1,4 Mrd. € sollte doch der Verkauf für 1 Mrd. € kursbewegend sein, oder ?

Hier noch einupdate von heute:

December 18, 2009
Heritage Enters Into a Sale and Purchase Agreement to Sell Its Ugandan Interest for up to US$1.5 Billion
CALGARY, ALBERTA--(Marketwire - Dec. 18, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Plc (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, announced that a wholly-owned subsidiary had entered into a binding letter of intent (the "LOI") with Eni S.p.A. ("Eni") for the sale of its entire interest in Blocks 1 and 3A in Uganda.

Heritage today announces that the Company and Heritage Oil & Gas Limited ("HOGL") have entered into a sale and purchase agreement (the "SPA"), with Eni International B.V. for the sale of its 50% interest in Blocks 1 and 3A in Uganda (the "Proposed Transaction"). The consideration comprises cash of US$1.35 billion and a further contingent, deferred consideration of either US$150 million in cash or an interest in a mutually agreed producing oil field independently valued at a similar amount.

Completion of the SPA is subject to the receipt and satisfaction of certain approvals and conditions, including the approval of the Company's shareholders at a meeting to be held before the end of January 2010, the receipt of any necessary consents from the Ugandan Government and HOGL not receiving a valid pre-emption notice from Tullow Uganda Limited ("Tullow").

Highlights

- Cash consideration on closing the transaction of US$1.35 billion
- Contingent, deferred consideration of either US$150 million in cash
or an interest in a producing oil field, to be mutually agreed and
independently valued at a similar amount
- The Proposed Transaction has been unanimously recommended by the Board
of Heritage, subject to various conditions, including approval from the
Ugandan authorities, Tullow not exercising a right of pre-emption and
approval of a majority of Heritage shareholders and the exchangeable
shareholders of Heritage Oil Corporation who vote at a general meeting
to be held before the end of January 2010
- Class 1 shareholder circular, which will include a Mineral Expert's
Report on the Company's material assets, is expected to be published
shortly
- Proposed Transaction is expected to complete in the first quarter of 2010
- Following completion, Heritage will consider returning a portion of the
disposal proceeds to shareholders in the form of a special dividend,
which could be in the range of 75 pence to 100 pence per share
- Heritage will also be seeking authority to buy back shares should the
directors determine such a buyback to be in the best interests of the
Company
- Heritage will retain an interest in the Albert Basin through its
interests in Blocks 1 and 2 in the Democratic Republic of Congo,
which are currently awaiting presidential decree


Summary of the Proposed Transaction

Eni International B.V., a wholly owned affiliate of Eni, will acquire Heritage's entire interest in, and operatorship of, Blocks 1 and 3A in Uganda for consideration of up to US$1.5 billion, of which US$1.35 billion will be paid in cash on completion. Eni has agreed to pay a contingent, deferred consideration of either US$150 million in cash or to transfer to Heritage an interest in a producing oil field independently valued at a similar amount. Should Eni decide that it wishes to satisfy the deferred consideration in the form of an interest in an oil producing asset, the Company will have 90 days to consider whether it wishes to accept the asset, and will have sole discretion to decline in favour of the cash alternative. Any such transfer of an interest in a producing oil field would be subject to the provisions of the Listing Rules and may require, inter alia, shareholder approval at a meeting that would be called at a future date once the asset, if any, had been identified.

Payment of the full amount of the deferred consideration is conditional on the relevant authorities within the Ugandan Government granting Eni, within a period of two years from the date of completion, certain tax incentives in relation to upstream, midstream and downstream activities on the disposed assets. The amount of the deferred consideration will depend upon the scale of the tax incentives negotiated.

The gross book value attributable to the assets being sold to Eni as at 30 June 2009, net of liabilities, was approximately US$145 million. No revenue or profits were generated from Heritage's Ugandan assets in the financial year ended 2008 and substantially all expenses have been capitalised. The Proposed Transaction is expected to complete in the first quarter of 2010.

A shareholder circular, which will include a Mineral Expert's Report, describing the Proposed Transaction is expected to be published shortly. Completion of the Proposed Transaction is subject to the approval of a majority of the Company's shareholders (and the exchangeable shareholders of Heritage Oil Corporation) voting at a general meeting to be held before the end of January 2010.

Under the terms of the SPA, should the Company receive an unsolicited written acquisition proposal from a bona fide offeror which the Board considers would be superior to the Proposed Transaction from a financial point of view for the shareholders of Heritage, it has been agreed that for a period of five business days the Company shall not enter into any agreement with the bona fide offeror. During this period Eni will have the right to match or exceed the terms of the superior offer.

Heritage has agreed to pay Eni a break fee of 1 per cent. of the market capitalisation of the Company in the event that Heritage accepts a competing superior offer from a third party and in certain other limited circumstances. A break fee is not payable to Eni if Tullow pre-empts the Proposed Transaction.

Background to and reasons for the Disposal

A primary aim of management is to realise value at an appropriate stage of an asset's life-cycle and re-invest the proceeds to build significant shareholder value from a diversified portfolio of oil and gas assets. The Board of Directors, having been advised by J.P. Morgan Cazenove Limited, Financial Adviser and Corporate Broker to Heritage, believes that the Proposed Transaction is in the best interests of the Company and represents an excellent opportunity to realise value from assets that are entering the development stage.

Approvals and Consents

Completion of the Proposed Transaction is subject to, among other things: (i) the approval of a majority of the Company's shareholders and the exchangeable shareholders of Heritage Oil Corporation voting at a general meeting which will be held before the end of January 2010; (ii) approval from the Ugandan Governmental authorities, and (iii) Tullow not exercising its right to pre-empt the Proposed Transaction on identical terms. Accordingly, there can be no assurances that the Proposed Transaction will complete or that it will complete on the terms outlined in the SPA or herein.

The Government of Uganda has been consulted on the Proposed Transaction and has indicated its support for Eni's proposed entrance into the oil industry in Uganda.

Use of Proceeds

Heritage will continue to have operations in seven countries and will use some of the disposal proceeds to fund the exploration, appraisal and development of these areas, in particular in the Kurdistan Region of Iraq ("Kurdistan"), which remains a core area of focus. Heritage has a producing asset in Russia and exploration projects in the Democratic Republic of Congo, Kurdistan, Mali, Malta, Pakistan and Tanzania. The Company plans to embark on drilling programmes in certain of these territories next year, with a number of high-impact exploration wells which could continue to generate significant value for shareholders.

Furthermore, the proceeds will provide Heritage with the financial flexibility to participate in opportunities to generate further value for shareholders, including the acquisition of exploration licences and producing assets.

The Company is also considering returning a portion of the disposal proceeds to shareholders through a special dividend on completion of the transaction, which could be in the range of 75 pence to 100 pence per share. In the event that the dividend is paid, Heritage would expect to still have a cash position of over US$1 billion. Heritage will also be seeking authority to buy back shares should the directors determine such a buyback to be in the best interests of the Company.

Information Regarding Blocks 1 and 3A in Uganda

The Kingfisher Field was discovered in 2007 and six wells have been drilled in Blocks 1 and 3A which have discovered approximately 300 million barrels net to the Company. Heritage has spent approximately US$150 million on its oil and gas interests in Uganda, since being awarded its first licence in 1997.

Tullow right of pre-emption

In the context of the Proposed Transaction, the Board believes that there is a provision in the joint operating agreement with Tullow that would give rise to a right of pre-emption in favour of Tullow. HOGL will notify Tullow of the Proposed Transaction and upon receipt of such a notice, Tullow has the right to acquire the disposed assets on the same terms and conditions as agreed with Eni in the SPA without reservation. Tullow is required to notify the Company of any such intention within thirty days of the delivery notice of the SPA to Tullow which, if notice is delivered today as intended, would expire on 17 January 2009.

As such, in the circular to be sent to shareholders, in connection with the Proposed Transaction, shareholders will be asked to consider and vote on both the proposed disposal to Eni and the potential alternative transaction, should Tullow exercise its right of pre-emption.

Tony Buckingham, Chief Executive Officer, commented:

"We are delighted to enter into this binding agreement with Eni, whom we believe are well positioned to further our work in Uganda and realise production at the earliest possible opportunity. We believe the transaction will create significant shareholder value at a critical juncture in the Ugandan asset's life cycle.

The disposal proceeds give Heritage great flexibility enabling the Company to focus on its existing exploration and development programmes, participate in value generating acquisition opportunities as and when they arise, as well as giving us the ability to pay a special dividend to shareholders."

[KaOzz]

Frohes Neues allen Mitstreitern!

Jetzt kommt wohl wieder etwas Fantasie in HOIL, da der Deal nach meinem letzten Kenntnisstand mit den Türken gescheitert ist.

Sie können die restlichen interessanten Projekte entwickeln und haben durch den Verkauf der Uganda-Assets mächtig Kohle reingekriegt.

Außerdem wirkt das Management äußerst fähig.

Ich schätze mal, dass es ein interessantes Jahr für Öl wird. Mal schauen, wie die Saisonalität mitwirkt:



Nach dem Chart ist Öl eines der lukrativsten Investitionsobjekte
Und es sieht nicht so aus, als wäre die 150 USD-Marke der ultimative "Blasenhöhpunkt" gewesen.

Grüße

(nur meine Meinung)

[swancorner]

Antwort auf Beitrag Nr.: 38.662.303 von KaOzz am 04.01.10 18:03:04

Weiss eigentlich jemand etwas Genaueres über die zu erwartende Sonderdividende von 1 GBP pro Aktie, von der mal die Rede war?
Ob überhaupt und wenn, dann wann?

[ducatiman]

Uganda Backs Eni Deal for Heritage Assets, Dismissing Tullow Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Fred Ojambo

Jan. 21 (Bloomberg) -- Uganda’s government supported Eni SpA’s agreed $1.5 billion offer for assets owned by Heritage Oil Plc in the East African country, dismissing a last-minute attempt by Tullow Oil Plc to block the sale.

Uganda won’t allow any one company to monopolize exploration, Energy Minister Hillary Onek told a press conference in the capital city of Kampala today.

Ugandan ministers met yesterday to review competing offers from Eni, Italy’s biggest oil company, and Tullow for Heritage Oil’s 50 percent share in Blocks 1 and 3A in the Lake Albert Rift Basin. The dispute came as Tullow partner Kosmos Energy LLC’s planned sale of its stake in Ghana’s Jubilee field to Exxon Mobil Corp. was thrown into doubt by the Ghanaian government.

“It’s positive for Eni which has the know-how to develop the fields,” said Emanuele Vizzini, who helps manages about $1.3 billion at Investitori Sgr in Milan, including Eni stock. Given it will be some time before the deal is completed, he didn’t rule out the possibility that Eni and Tullow could reach a compromise.

A spokeswoman for Eni declined to comment.

Tullow’s Chief Executive Officer Aidan Heavey and Chief Operating Officer Paul McDade plan to fly to Uganda later this week to meet government officials, George Cazenove, a company spokesman, said by phone. The U.K. explorer with the most licenses in Africa has drawn up a shortlist of partners to help with the estimated $5 billion cost of developing its Ugandan assets.

‘No Monopoly’

“The company made it clear there was no monopoly suggested and that they are looking to bring in a credible and serious partner,” Cazenove said.

Tullow erased gains after earlier rising to a record in London trading following a “significant” discovery in Ghana. The stock was down 2 percent at 1,299 pence as of 3:01 p.m. local time, valuing the London-based company at 10.5 billion pounds ($17 billion). Eni rose 0.6 percent in Milan to 18.08 euros.

Eni is seeking to expand reserves with fields in Africa, central Asia and the Gulf of Mexico after output cuts from disruptions in Nigeria. Italian Foreign Minister Franco Frattini had pressed Eni’s case during a visit to Uganda last week.

The Italian producer said Nov. 23 it had signed a letter of intent with Heritage to buy its share of the fields for as much as $1.5 billion. Tullow, which co-owns the assets with Heritage, announced it would exercise pre-emption rights earlier this week.

“There is no reason to obstruct Eni when Tullow wasn’t obstructed by the government from coming in,” Onek said at today’s press conference.

Revoke License

The minister issued a thinly-veiled threat to Tullow not to seek legal redress, saying the government would not hesitate to revoke the license of any company that challenged its decisions in court.

About 1.5 billion barrels of oil are still to be discovered in the Lake Albert region, according to Tullow estimates.

Tullow, Heritage, Tower Resources Plc and Dominion Petroleum Ltd. have been exploring Ugandan fields along the border with the Democratic Republic of Congo.

Tullow had wanted sell as much as 50 percent of three combined blocks in the Lake Albert region, Chief Executive Officer Aidan Heavey said Jan. 18.

Refinery, Pipeline

Detailed plans regarding field exploration, a refinery, power generation and a possible pipeline across Tanzania or Kenya to export oil, will be presented to Uganda’s government in the first week of February, Heavey said.

The company plans to produce its first oil at Uganda’s Kasamene field this year.

A higher bid for Heritage’s assets can be made up until Jan. 25, when its shareholders meet to vote on the sale.

Kosmos said Oct. 12 that it agreed to sell its Ghana assets, including a 23.49 percent stake in Jubilee, to Exxon Mobil, in a deal that may be valued at $4 billion. Ghana National Petroleum Corp., the state-owned energy company, has threatened to block the sale, asserting its “absolute” approval rights and saying it may buy the stake itself and then bring in partners.

Separately, Tullow reported today the discovery of a “significant” oil and gas-condensate field off the coast of Ghana after drilling the Tweneboa-2 well

For Related News and Information:

To contact the reporters on this story: Fred Ojambo in Kamapala via Johannesburg at [e-mail]

Last Updated: January 21, 2010 10:27 EST

[sailor888]

February 8, 2010
Heritage Oil Issues an Update on the Proposed Disposal of Its Ugandan Interest
CALGARY, ALBERTA--(Marketwire - Feb. 8, 2010) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Plc (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, issues an update on the proposed disposal of the Company's entire interest in Block 1 and Block 3A ("the Disposed Assets") in Uganda.

Heritage announces that ENI International B.V. ("Eni") has terminated the sale and purchase agreement entered into with Heritage on 18 December 2009 ("Eni SPA") with immediate effect. The termination followed Tullow Uganda Limited's ("Tullow") exercise of a pre-emption right with respect to the transaction and was allowed under the terms of the Eni SPA.

Eni's termination should expedite completion of the sale and purchase agreement entered into between Heritage and Tullow on 26 January 2010, which is on the same terms and conditions as the Eni SPA. Heritage and Tullow are working closely with the Ugandan Government ("Government") to obtain the formal approval of the sale, which is expected imminently. A formal request for consent to transfer the Disposed Assets to Tullow was submitted to Government on 2 February 2010 and the transaction is expected to close within the first quarter of 2010.

[ducatiman]

Biggest ever insider dealing fine after Heritage Oil find
This is Money
16 February 2010, 3:02pm
The biggest ever fine for insider dealing has been handed out to a Turkish Oil executive following a windfall made from shares in Heritage Oil.




Oil stain: A Heritage Oil site

WANT TO KNOW MORE?Heritage Oil scraps its Turkish merger
FTSE LATEST5280.2736.21

£12.50 SHARE DEALING• Buy and sell shares online or by phone for £12.50 (£20 for certificates)
TALK ABOUT SHARESJoin the lively debates on shares: Today's hot stocks

The Financial Services Authority slapped Mehmet Sepil with a £967,005 fine after he bought shares in Heritage Oil after hearing that the company had made a large oil discovery in the semi-autonomous Kurdish region of Iraq.
A day later Heritage announced the 2.3bn to 4.2bn barrel find, lifting its shares 25%, and Sepil sold his holding at a 267,000 pounds profit.

Sepil is the chief executive and 44% owner of oil explorer Genel Enerji. Genel Enerji's Chief Commercial Officer Murat Ozgul, and Levent Akca, its exploration manager, were also fined 105,240 pounds and 94,062 pounds respectively for making the same trades.

The men said in a statement they were unaware their actions broke any rules and the FSA said it accepted there was no intention to commit market abuse.

Unlisted Genel is Heritage's partner in the Miran field in Kurdistan and, as is common practice, the Jersey-based explorer, which is run by former mercenary Tony Buckingham, shared the information about the find with Genel before informing the market.

Genel and Heritage later agreed a merger, which they said would create a $6bn company and member of the FTSE 100 index of the UK's largest companies. Sepil was to head the enlarged group.

However, before the deal could be consummated, the FSA stepped in and told Heritage there would be problems with certain members of the Genel team taking leadership roles at a UK-listed company.

Heritage subsequently dropped the merger plan.



Read more: http://www.thisismoney.co.uk/markets/article.html?in_article…

[Peter_Ski]

Antwort auf Beitrag Nr.: 38.957.418 von ducatiman am 17.02.10 11:04:56

So geht es dem, der nicht hören kann. Was macht der CEO von Heritage oil auch für Sache! Könnte ja sein, er hat hinterum davon profitiert.

Weiß übrigens iregnd jemand etwas Neues wegen der angeblichen Sonderdividende?

Schönen Sonntag noch!

[ducatiman]

By Katrina Manson
KINSHASA (Reuters) - France's Total wants to explore for oil in eastern Democratic Republic of Congo with Britain's Tullow Oil, a company official said, potentially boosting the latter's bid for key blocks there.
"The idea is to partner with Tullow in Congo just as we are in Uganda," Philippe Hergaux, project director for new ventures and asset management at Total, told Reuters by telephone from Paris late on Monday following a visit to Kinshasa.
Total and Tullow last week agreed a three-way deal with China's CNOOC over Tullow's Uganda oil assets, subject to government approval, to up output from three Ugandan oil blocks on Lake Albert, which straddles Congo and Uganda.
Congo has parcelled its own adjoining oil-rich zone into five blocks along Lake Albert and further south, but several companies have been waiting years for exploration licences to be ratified and some are contested.
"The presence of Total will help solve the situation for the best of the country and we will help the government to settle these issues," said Hergaux. "There is three years of delay compared to what has been done in Uganda."
Tullow has been in the running for Congo Blocks 1 and 2 with partner Heritage Oil.
"We are not looking to exit DRC, we are not selling our interest," Paul Atherton, Chief Financial Officer of Heritage Oil, which would have a 39.5 percent stake in the two blocks with Tullow Oil on the Congo side, told Reuters.
"If Tullow is looking to reduce its interest and sell a portion to Total it would just mean a (another) company would come in on the licence," said Atherton of Total's interest.
Among competitors for Congo's blocks is Divine Inspiration Group (DIG), part of a South African consortium that paid $4.5 million in signature bonuses for Blocks 1 and 3.
"Any third party laying claim to Block 1 is misrepresenting the current status," said Andrea Brown, CEO of DIG and director of SacOil, in an email to Reuters. "...(W)e have validly executed and legitimate rights and we are confident the DRC government will respect our contracts."
DIG says its consortium, backed by Investec Bank and JSE-listed SacOil Holdings, with South African state oil company PetroSA as its technical partner, is ready to spend $200 million on exploration over three years, pending a presidential decree.
Tullow's deal for Blocks 1 and 2 was cancelled in 2007 after the government said it was signed with an unauthorised deputy minister and that its $500,000 signature bonus could not cover both blocks at once.
In 2009, however, a mining minister who has since been replaced announced Tullow had been given back its concession.
"Tullow signed a contract for Blocks 1 and 2 in 2006, and still awaits the sanction from President Kabila," Tullow spokesman Tim O'Hanlon told Reuters by telephone, declining to comment on the proposed partnership with Total.
ENI
Italian oil major Eni could also be in the running for Congo oil assets. The company signed a strategic deal with Congo in August last year, naming northern Kivu and the great lakes, which include Lake Albert and Lake Edward.
Eni, which pulled out of a deal to buy Heritage Oil's assets in Uganda last month, declined to comment.
Congo Oil Minister Celestin Mbuyu, new to the post following a cabinet reshuffle last month, said discussions underway would result in a positive conclusion, but declined to add details.
"Usually we would expect oil majors to come in much later, but it's going to be very expensive so it needs majors with long pockets," Jon Marx, editorial director of African Energy newsletter, told Reuters, citing Lake Albert's remote shores.
Total said Congo stands to benefit from "synergies" should the same team take on both sides of the lake, but detractors said Congo would risk losing out to a monopoly controlled by the Uganda side.
"(President) Kabila knows that however much you do on mining, the real game-changer is oil and I think he's watching it like a hawk and that's why he is taking his time," said Marx.

[ducatiman]

Uganda BlocksKAMPALA, Uganda (Dow Jones), Apr. 1, 2010

U.K.-based Tullow Oil presented its partnership terms with Cnooc Ltd and Total SA to the Ugandan government Thursday and is now awaiting government approval to formalize the deal, people familiar with the situation told Dow Jones Newswires Thursday.

Company and government officials said that the partnership terms are for the integrated oil project in Uganda which will include oil field development, an export pipeline to the east African coast and a refinery.

"The three companies have already agreed on the partnership which they presented to government today," one person said.

Tullow, Total and Cnooc will form an operating company for the project in which each of the companies is expected to hold one-third of the project covering blocks 1, 2 and 3A in the Lake Albert basin.

The three companies are expected to inject at least $5 billion to develop the oil fields in the three blocks, the person added.

A Tullow Oil spokesman declined to comment.

Ernest Rubondo, the head of Uganda's state-run oil production and exploration department told Dow Jones Newswires separately that talks with the three companies on the project were continuing.

"We are really progressing well but this is so big a decision, that is why it is taking this long," he said, adding that the final decision on the deal is expected before the end of April.

The government will have to approve Tullow's proposed takeover of Heritage Oil PLC's 50% stake in two blocks as well as the partnership deal with Cnooc and Total.

Total and Cnooc could not immediately be reached for comment.

[ducatiman]

Daher der Kursrückgang
Nicht schön aber auch nicht sooo schlimm.
Heritage Oil has been hit by a double dose of disappointing news, sending its shares sharply lower.

The FTSE 250 oil exploration group said it would need to drill deeper at a test well in Iraq, and at the same time announced a delay in the sale of its Ugandan interests.

The Miran West-2 appraisal well in the Kurdistan region of Iraq has reached 2,627 metres but will now be drilled to a depth of 4,600 metres after no hydrocarbons were flow tested. The drilling will take a further four to five months.

Meanwhile the Ugandan government will finish a review of the company's plan to sell $1.35bn of assets in the country to Tullow Oil. The government has sent Heritage a letter saying it supports the deal, which should be closed shortly after receiving formal approval.

The news has sent Heritage's shares 53p lower to 528p, down more than 9%. But Westhouse Securities said:

Today's announcement was disappointing in the sense that we were expecting confirmation of previous company estimates of potential flow rates from the Miran West field. However, there are options such as fraccing which the company could pursue to develop the field utilising this well or more likely use 3D seismic which will be acquired in the second half to better identify future drilling locations. The additional deeper structures are positive as they can potentially add very substantial volumes to current estimates of oil in place.

With regard to the Uganda sale, the timetable is slightly longer than originally anticipated but still appears to be going forward. We view this morning's share price performance as a buying opportunity and continue to rate Heritage as a buy.

[ducatiman]

Ugandan Government Supports Heritage Oil's Sale of Its Interests
07 April 2010

Heritage Oil Plc, an independent upstream exploration and production company, issues an update on the proposed disposal of the Company's entire interests in Block 1 and Block 3A ("the Disposed Assets") in Uganda to Tullow Uganda Limited.

The only substantive condition outstanding to completing the transaction is the approval by the Government of Uganda (the "Government"). Heritage has received a letter from the Government stating that it supports Heritage's sale and transfer of the Disposed Assets and that it will conclude its review of the transaction within eight weeks. Following this, Heritage expects to receive formal consent and to close the transaction shortly thereafter.

As announced previously, Tullow exercised its right of pre-emption on 17 January 2010 to acquire Heritage's 50% interest in Blocks 1 and 3A in Uganda for a cash consideration on closing of US$1.35 billion, with deferred consideration of up to US$150 million in cash or an interest in a mutually agreed asset. This disposal was subsequently approved by Heritage shareholders at a general meeting on 25 January 2010.

On completion of the sale of the Disposed Assets Heritage will receive US$1.35 billion in cash. There is a further contingent, deferred consideration of up to US$150 million in cash or an interest in a mutually agreed asset.


Apr 7, 8:45 AM


By The Canadian Press

ADVERTISEMENT

CALGARY - Heritage Oil PLC (TSX:HOC) has cleared the final hurdle in its attempts to sell its stake in two Ugandan oil fields after securing government approval for the transaction, the company said Wednesday.


The Canadian-listed company, which has its headquarters in the U.K., said the Ugandan government has green-lighted a sale that will see Tullo Uganda Ltd. buy Heritage out of the properties for more than US$1.35 billion.


Heritage and Tullo previously each held 50 per cent stakes in the two oil fields.


Heritage had signed an agreement to sell the properties to Eni International, Italy's national oil producer, when Tullo exercised its right to purchase the rest of the fields last January.


"Heritage has received a letter from the government stating that it supports Heritage's sale and transfer of the disposed Assets and that it will conclude its review of the transaction within eight weeks," the company said in a statement.


"Following this, Heritage expects to receive formal consent and to close the transaction shortly thereafter."


A total of 27 wells have been drilled and 700 million barrels of oil identified in the region, and Heritage has said the two blocks are believed to hold more than 1.5-billion barrels of potentially untapped oil.


Tullow will pay the US$1.35 billion in cash to Heritage, plus up to US$150 million or an interest in a mutually agreed upon asset.

[sailor888]

http://ca.news.finance.yahoo.com/s/18052010/28/link-f-ccnmat…


Tue May 18, 2:00 AM

* Email Story
* IM Story
* Printable View

CALGARY, ALBERTA--(Marketwire - May 18, 2010) - THIS PRESS RELEASE IS Heritage Oil Plc (TSX: HOC.TO)(LSE: HOIL.L), an independent upstream exploration and production company, issues its Interim Management Statement for the period from 1 January 2010 to 17 May 2010, in accordance with reporting requirements of the EU Transparency Directive.

Highlights

-- Approval from the Ugandan Government for the disposal of the interests
in Uganda is expected within the next couple of weeks. Completion of the
transaction to follow shortly thereafter
-- Proposed dividend of 75p-100p per share following the completion of the
sale of the Ugandan interests
-- Exploration drilling of the Miran West-2 well is scheduled to be
completed in the third quarter, 2010
-- Appraisal testing of the Miran West-2 well will resume on completion of
the deeper exploration drilling
-- Production in the first quarter 2010 averaged 583 bopd, 77% higher than
the daily average for 2009
-- As at 31 March 2010, Heritage's cash position was approximately $170
million

[Peter_Ski]

Antwort auf Beitrag Nr.: 39.536.508 von sailor888 am 18.05.10 08:46:00

Hat irgend Jemand Neuigkeiten?

Man hört ja garnichts mehr. Wie steht es mit dem Verkauf und dem daraus resultierenden Erlös?

[Eurowinnerer]

Antwort auf Beitrag Nr.: 39.640.865 von Peter_Ski am 07.06.10 12:19:37

Der Aktienkurs der letzten 3 Jahre ist nicht doll. Trotz positiv.Impulsen .

[sailor888]

Heritage Oil Declares Special Dividend of GBP 1.00 Per Share
Mon Aug 2, 2:00 AM


CALGARY, ALBERTA--(Marketwire - Aug. 2, 2010) - THIS PRESS RELEASE IS Heritage Oil Plc (TSX: HOC.TO)(LSE: HOIL.L), an independent upstream exploration and production company, today announces the declaration of a special dividend of GBP 1.00 per ordinary share of the Company ("Ordinary Share"). Heritage Oil Corporation ("HOC"), the Company's wholly owned subsidiary, today also announces the declaration of a special dividend of Cdn$1.62 per exchangeable share of HOC ("Exchangeable Share"), calculated at an exchange rate of GBP 1.00:Cdn$1.62.

This announcement follows that made on 27 July 2010 in respect of the completion of the sale of the Company's entire interests in Block 1 and Block 3A in Uganda to Tullow Uganda Limited (the "Sale") and the Company's intention to distribute a significant proportion of the consideration received for the Sale to its shareholders.

Ordinary Shares

The special dividend of GBP 1.00 per Ordinary Share will be paid by the Company on 27 August 2010 to holders of Ordinary Shares on the share register at the close of business London time on 13 August 2010, the record date. The Ordinary Shares will be quoted ex-dividend on the London Stock Exchange on 11 August 2010.

[ducatiman]

UBS says Heritage Oil top pick[IN KURDISTAN]
Heritage Oil is UBS's top pick in the European E&P space. Analyst Melanie Savage initiates coverage with a buy rating and 430p target price. She says the company has high-impact exploration projects in Iraqi Kurdistan and Malta, as well as ongoing leads and prospects in Pakistan, Tanzania and Mali. It currently produces around 600b/d of oil in Russia and reported 2009 2P reserves of 60Mboe. Around 40% of group NAV is from Iraqi Kurdistan. 'Heritage provides exposure to relatively low-risk high-impact exploration upside in Iraqi Kurdistan and Malta in the near term; we see 92% unrisked upside over the coming year. 'At 79%, Heritage’s historical exploration and appraisal success rate is high relative to peers. Additional NAV upside would be provided by a positive resolution of a tax dispute in Uganda and a licence legality dispute in Iraqi Kurdistan. 'Heritage gains access to low geological risk exploration by operating in areas of relatively high political risk. The company seeks to enter countries where it believes it can manage specific country risks. 'We believe Heritage is unlikely to lose its Miran licence in Iraq, in contrast to the market-implied 80% chance of loss.' Story provided by StockMarketWire.com

[ducatiman]

0723 GMT [Dow Jones] JPMorgan Cazenove cuts Heritage Oil (HOIL.LN) price target to 470p from 550p to reflect the payment of a 100p per share special dividend in August. Notes Heritage's relative poor stock market performance in '10 has been weighed down by concerns over Capital Gains Tax risk in Uganda, inconclusive drilling results in Kurdistan and delays to some other exploration catalysts. However, following completion of the Ugandan asset sale and payment of a special dividend, "Heritage has re-scaled itself to be a high impact explorer, but with a proven track record and very strong balance sheet this time." Overweight rating. Shares +2.1% at 329p.

Da ist ja noch ein wenig Luft nach oben.

[sailor888]

heute um 8.00 MEZ kam folgende Meldung, Reaktion in D: -15,6 % (4,31 € statt 5 € pari)


On Wednesday January 26, 2011, 2:00 am EST

CALGARY, ALBERTA--(Marketwire - Jan. 26, 2011) -

THIS PRESS RELEASE IS Heritage Oil Plc (Toronto:HOC.TO), an independent upstream exploration and production company, announces a major gas discovery in the Kurdistan Region of Iraq ("Kurdistan"). Following completion of the deepening and testing of the Miran West-2 well, management estimates that the Miran West structure has P90-P50 gross in-place volumes of gas of between 6.8-9.1 trillion cubic feet (TCF) with 42-71 MMbbls of condensate and 53-75 MMbbls of oil.

Highlights

-- Highly productive Jurassic reservoir intervals tested at a restricted cumulative flow rate of over 75 million cubic feet per day (MMscfd) -- Estimated gross P90-P50 in-place volumes of between 6.8-9.1 TCF, with a P10 upside of 12.3 TCF -- Management estimates Heritage has mean risked contingent and prospective resources in Miran West and Miran East of 744 million barrels of oil equivalent (MMboe), based on a 75% working interest -- Significant increase in contingent resources following the successful testing of hydrocarbons -- Development options being considered with first production targeted for 2015 using planned regional infrastructure -- 2011 multi-well drilling programme has been accelerated with the Miran West-3 appraisal well scheduled to commence drilling in the second quarter -- Second rig planned to commence drilling in the autumn of 2011 -- Size of 3D seismic programme has been expanded following this successful well -- Miran East prospect risk reduced

The Miran West-2 well was initially designed as an appraisal well for the Cretaceous section and was subsequently modified to assess the exploration potential of the deeper formations, eventually being drilled to a total depth of 4,426 metres. The well results have confirmed three additional pay zones within Lower Cretaceous and Jurassic formations, in addition to the pay zone identified in the Upper Cretaceous in the Miran West-1 well.

Additionally, well results have established that the Miran Field contains two hydrocarbon systems, with oil in the shallower Upper Cretaceous section and wet gas/condensate within the deeper Lower Cretaceous and Jurassic formations. This has resulted in the previously anticipated prospective oil resources in the Lower Cretaceous, identified on the basis of oil shows in the Miran West-1 well, being proven to be wet gas/condensate.

The Miran West-2 well has been suspended as a future producer.

[weierHai]

Antwort auf Beitrag Nr.: 40.926.119 von sailor888 am 26.01.11 10:17:54

An alle Heritage Aktionäre und oder Interessenten,

hat jemand eine Idee warum es heute zu diesem massiven Kurssturz kam? -30% !!!!
Ich kann in den heute veröfentlichen News keinen Hinweis finden der diesen Kurssturz auch nur im Ansatz rechtfertigen würde. Im Gegenteil die news sehen doch vielversprechend für die weitere Zukunft von Heritage aus. Für einen konstruktiven Beitrag was die Ursache für diesen Crash heute verantwotlich war bedanke ich mich schon mal im voraus.
der weiße Hai

[Plotin]

Heritage hat ein Gasfeld gefunden ... manche stört halt, dass es kein Ölfeld war.

Stay cool!

[commodityleviathan]

Antwort auf Beitrag Nr.: 40.931.438 von Plotin am 26.01.11 20:40:15

heritage mit kurssturz. ich werde hier in den nächsten 2 wochen einkaufen. finde es wäre ein guter zeitpunkt.

heritage erfüllt für mich alle kriterien für ein erfolgreiches investment.
habe heritage schon lange auf der watchlist. früher war aber die market cap für mich zu hoch. jetzt ist sie tiefer. ich schaue mir mal noch wie viel cash die im moment in der kasse haben.

oder weiss das gleich jemand von euch?

[Falke7]

Antwort auf Beitrag Nr.: 40.933.628 von commodityleviathan am 27.01.11 09:37:22

Laut Pressemitteilung v.18.11.2010 besitzt Heritage Oil einen Cash über
614Mio.US-Dollar(zum 30.9.2010),plus ausstehende Beträge bez.Steuerstreit
in Uganda.

[commodityleviathan]

Antwort auf Beitrag Nr.: 40.936.323 von Falke7 am 27.01.11 15:21:38

Ich habe heute morgen ebenfalls geforscht.

genau uganda 1.08 mrd. - 280 mio steuerstreit zurückhaltung -490 mio dividende. bleibt ca. 250 mio plus noch cashbestand von vorhin. denke es sind ca. 400-500 mio. aber 814 usd wäre noch besser. steige nächsten montag hier ein. heritage hat einen super track-record.

[ducatiman]

03.02.2011 09:11
BRIEF-RESEARCH ALERT-JP Morgan cuts Heritage Oil price target
Feb 3 (Reuters) - Heritage Oil Plc:

* JP Morgan cuts Heritage Oil Plc price target to 380P from 470P;

rating overweight

[Falke7]

Antwort auf Beitrag Nr.: 40.979.908 von ducatiman am 03.02.11 22:51:29

Vielleicht kommt es demnächst doch noch zur Fusion von Heritage Oil und
Genel Energy wenn der Ölexport aus Kurdistan anläuft und gesichert ist.

[stumpfser]

Was ist heute mit dem Handel ?
Trading Halt?

[RABOCH]

weis einer was genaues warum der Kurs so runtergeprügelt wird. Nur am Gasfund kann´s doch wohl nicht liegen?

[ducatiman]

Hier wird auch von einer Überreaktion des Marktes gesprochen.

Man sollte sich aber auch immer im klaren sein, das Pakisten nicht das sicherste Land ist ( Wird sogar als das z.Zt. gefährlichste Land der Welt erwähnt )und es gerade auch jetzt im Oman brodelt, und somit Heritage auch mit gewissen Risiken belastet ist. Wie auch immer, die Zeit wird uns eines besseren belehren.

Evolution Securities analyst Richard Griffith thinks the market got it wrong after Heritage Oil (LON:HOIL) stock lost nearly a third of its value yesterday.

Yesterday, Heritage told investors that Miran West-2, in the autonous northern region of Iraq, found highly productive gas reservoir intervals that tested at a restricted cumulative flow rate of over 75 million cubic feet per day (MMscfd).

The news disappointed investors who had been expecting the new hydrocarbon discovery to be oil not gas - which is worth less and is also more difficult and expensive to bring to end-markets.The stock dropped 126 pence per share, nearly 30 percent, to 310 pence on Wednesday.

This morning the analyst said it looks like a huge over reaction, and he reckons the new gas discovery could be worth three times more that the HOIL’s current share price suggests.

According to Griffith the market is currently valuing the Miran gas discovery at around 105 pence per share, however he gives it a 301 pence per share risked valuation.

“In our model we assume: the KRG (Kurdistan Regional Government) backs into the project and dilutes Heritage to 56.25 percent from 75 percent; there is a 75 percent chance of the contingent resources being developed and a 50 percent chance of developing the prospective resource.”

“We are in the process of building a full field model and so for now we assume an NPV/boe of US$3.5. Thus our risked value for Miran is 301p per share.”

Add to that the 205 per share Griffith ascribes Heritage Oil’s Russian assets, and the analyst thinks the stock could support a 506 pence per share valuation - without giving any value to its assets in Malta or Pakistan.

The stock is showed early signs of recovery today, as it climbed just over 26 pence, 8.4 percent, and it was trading at 336 pence per share at 3:30 pm.

Heritage estimates that the Miran West structure has gross P90-P50 in-place volumes of between 6.8 (P90) - 9.1 (P50) trillion cubic feet of gas, with an upside case (P10) of 12.3 trillion cubic feet.

Consequently Heritage now estimates that Miran West and Miran East together have a mean risked contingent and prospective resource of 744 million barrels of oil equivalent (MMboe).

"The discovery of a major gas field of up to 12.3 trillion cubic feet in-place with exceptional flow rates makes this one of the largest gas fields to be discovered in Iraq,” chief executive Tony Buckingham said.

“This well has substantially de-risked the field so we have the confidence to accelerate the work programme on Miran. We are considering various development options including a tie-in to planned infrastructure that will achieve first production for both oil andgas in 2015.”

The Miran field contains two hydrocarbon systems, a shallow Upper Cretaceous section which contains oil and the deeper Lower Cretaceous and Jurassic formations which are wet gas and condensate. Previously reported oil shows, in the upper cretaceous, during drilling raised hopes of a significant oil discovery among investors.


Und noch ein wenig positives.


Monday, 28 February 2011 12:57 Canaccord Genuity Corp take a look at the mid cap oil production and exploration sector. Heritage Oil Plc (LON:HOIL) offer the best value to investors amongst the mid-cap oil explorers and producers. This is according to Canaccord Genuity Corp who have taken a look at Heritage Oil, Premier Oil Plc, Cairn Energy and Afren Plc. Heritage Oil has been maintained at Hold, with a target share price of 335p a share being set. There is therefore a potential upside of 23%.

[ducatiman]

Mögliche Gründe des steigenden Kurses in den letzten Tagen.


Heritage Oil was in focus, with traders citing takeover speculation as well as hopes of a resolution to a dispute involving the company in Uganda.

Initially, gases group BG - down 24p at £14.56 - was said to be interested in Heritage's assets in the Kurdistan region of Iraq, a suggestion which helped push Heritage's shares up nearly 9%. But BG, although it would not comment on "market rumour", indicated that Iraq did not form part of its current plans.

This took some of the shine off Heritage's shares, but even so they closed 7.5p higher at 282p. Austrian energy group OMV was mentioned as another possible predator, while separately there was talk that a solution could be close to a $404m tax dispute with the Ugandan government relating to Heritage's sale of assets to Tullow Oil.

Heritage shares have fallen sharply since January when it said it had discovered gas in Kurdistan, rather than the oil which had been expected.

Aber am Ende keinerlei Beweise, die eine Übernahme bestätigen!

[ducatiman]

Und noch ein, von Heritage unkommentiertes, Übernahmegerücht!

LONDON, March 17 (Reuters) - Exploration company Heritage Oil has rejected a 1.2 billion pound ($1.9 billion) takeover approach from a Middle Eastern company, the Financial Times reported on Thursday.

The Abu Dhabi-based suitor, whose name was not known, recently sent Heritage a letter offering to pay 425 pence per share, the FT said, citing a source familiar with the situation.

Shares in Heritage, which declined to comment on the report, were up 6.9 percent at 309.8 pence at 945 GMT, topping the leaderboard of mid-sized companies.

Arbuthnot Securities analyst Dougie Youngson said the stock looked cheap following news on Jan. 26 Heritage found gas but not oil in the Kurdistan region of Iraq. Heritage stock had been trading at 437 pence before the announcement.

'Heritage has had a pretty bad run since the announcement that the Miran West field is gas rather than oil,' he said. 'I think the sell-off is arguably overdone. Whenever a company has been hit to the extent that Heritage has been hit recently then the perception of cheapness makes them look attractive.'

[ducatiman]

Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company, notes the recent announcement by Tullow Oil plc ("Tullow") relating to Tullow's operations in the Republic of Uganda ("Uganda") (the "Announcement") and makes the following clarification.



Contained in the Announcement is a statement by Tullow that: "In line with Ugandan dispute resolution procedures under the Uganda Income Tax Act, US$121 million was paid to the URA and Tullow and Heritage agreed to deposit US$283 million into an escrow account in London pending resolution of the dispute through a tax tribunal in Kampala."



As previously announced, Heritage's position, based on comprehensive advice from leading tax experts in Uganda, the United Kingdom and North America, is that the sale of Heritage's Ugandan interests to Tullow, which completed in July 2010, is not taxable in Uganda. On 26 July 2010, when the sale completed and funds were received, Heritage deposited US$121.5 million with the Uganda Revenue Authority ("URA") and deposited US$283.4 million in an escrow account at Standard Chartered Bank in London.



Following the Announcement, Heritage is reviewing its options to resolve this tax dispute, including commencing arbitration proceedings to reclaim the monies deposited in escrow in London and on deposit with the URA, totalling US$404.9 million. The production sharing agreements for Blocks 1 and 3A state arbitration proceedings will be held in London.

[sailor888]

April 18, 2011
Heritage Oil Provides Uganda Update
CALGARY, ALBERTA--(Marketwire - April 18, 2011) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Plc (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, announces that Heritage and its wholly owned subsidiary Heritage Oil & Gas Limited ("HOGL") have received Particulars of Claim filed in the High Court of Justice in England by Tullow Uganda Limited ("Tullow") seeking $313,447,500 for alleged breach of contract as a result of HOGL's and Heritage's refusal to reimburse Tullow in relation to a recent payment made by Tullow of $313,447,500 to the Uganda Revenue Agency ("URA"). Heritage and HOGL believe that the claim has no basis and will vigorously and robustly defend it. Heritage and HOGL have also reserved their other rights against Tullow and against the Government of the Republic of Uganda ("Government").

The URA purported to issue Agency Notices under the Ugandan Income Tax Act designating Tullow, as agent for HOGL, for payment of an alleged tax liability resulting from HOGL's sale of its interests in Blocks 1 and 3A to Tullow (the "Sale"). The Sale completed on 26 July 2010 for a cash consideration of $1.45 billion, including $100 million for a contractual settlement, of which HOGL received $1.045 billion in cash. The URA made a purported demand that Tullow pay the amount of $313,447,500 under the Agency Notices and Tullow has informed HOGL that it paid the entire amount to the URA on 7 April 2011.

Tullow is purporting to claim against HOGL under the tax indemnity provisions and against Heritage under the guarantee provisions of the Sale and Purchase Agreement between the parties dated 26 January 2010 (the "SPA").

Heritage believes the claim is misguided for the following simple reasons:

-- The decision to pay the URA $313,447,500 was made without HOGL's
knowledge or consent, contrary to the very clear provisions under the
SPA as supplemented by a supplemental agreement made between HOGL,
Heritage and Tullow prior to completing the Sale on 26 July 2010 (the
"Supplemental Agreement"). The Supplemental Agreement is explicitly
clear that it is for HOGL alone to manage the tax dispute with
Government yet Heritage and HOGL consider that Tullow's agreement to pay
the URA was made contrary to the terms of this agreement, for Tullow's
own commercial reasons.

-- HOGL is disputing that any tax arises in Uganda from the Sale.
Heritage's and HOGL's position remains, based on comprehensive advice
from leading tax experts in Uganda, the United Kingdom and North
America, that the Sale is not taxable under Ugandan law.

-- The payment was not made in compliance with the Ugandan tax provisions
relating to agency notices, even if the Agency Notices are assumed to be
valid, which Heritage and HOGL does not accept.


Tullow explained the commercial rationale for making the payment to the URA in a letter to HOGL dated 17 March 2011, which stated that, "If Tullow were to refuse to pay ... the Government would not permit the farm-down to proceed."

Escrow Monies

HOGL is now pursuing the release of $283,447,500, plus interest, held in escrow with Standard Chartered Bank in London, following Tullow's admission that its payment of $313,447,500 to the URA has discharged HOGL's alleged tax liability. Funds no longer need to be held in escrow, since monies were placed in escrow on completion of the Sale to provide for a potential payment to Government/URA in discharge of the alleged tax liability relating to the Sale, where this alleged liability was duly resolved between HOGL and Government/URA.

Arbitration in London

Heritage and HOGL continue to review their options to recover approximately $121 million held on deposit with Government, which could include commencing arbitration proceedings against Government in London in accordance with the provisions of the Production Sharing Contracts for Blocks 1 and 3A.

[ducatiman]

Mal eine Zusammenfassung des letzten Jahres.

Heritage Oil announced its results for the twelve months ended December 31, 2010. All figures are in US dollars unless otherwise stated.

2010 Operational Highlights
Discovered the largest gas field in Iraq in the last 30 years
Highly productive Jurassic reservoir intervals tested in the Miran West-2 well at a restricted cumulative flow rate of over 75 million cubic feet per day ("MMscfd")
Estimated gross P90-P50 in-place volumes of 6.8-9.1 Trillion Cubic Feet ("TCF"), with a P10 upside of 12.3 TCF for Miran West
Management estimates Heritage has mean net risked contingent and prospective resources in Miran West and Miran East of 744 million barrels of oil equivalent ("MMboe"), based on a 75% working interest
Miran development options being considered with first export production targeted for 2015 using planned regional infrastructure
Achieved nearly a twelvefold increase in contingent resources from 53 MMbbls to 605 MMboe following the successful testing of hydrocarbons
Completed 3D seismic acquisition offshore Tanzania; data currently being processed
Further development work in Russia, production increased 65% in 2010
2010 Financial Highlights
Completed the disposal of interests in Block 3A and Block 1, Uganda, (the "Ugandan Assets") for which Tullow Uganda Limited ("Tullow") paid a cash consideration of $1.45 billion, including $100 million for a contractual settlement, and Heritage received and retained $1.045 billion
Cash at year end of $598 million
Special dividend of 100 pence per share paid in August 2010
Outlook
Rig contract to drill Miran West-3 well signed in April, well scheduled to spud July 2011
Exploration drilling to commence on Miran East in Q4 2011
3D seismic data being processed for Tanzania with a view to establishing a drilling location
Mali 2D seismic data currently being acquired with a well expected to be drilled in early 2012
Malta 2D seismic data to be acquired during summer 2011
Well in Pakistan planned for H2 2011
Development options being reviewed for Kurdistan which include a phased development for oil, condensate and gas
First horizontal well to be drilled in Q2, 2011, in the Zapadno Chumpasskoye Field, Russia, which should help to provide a material increase in production
Tony Buckingham, Chief Executive Officer, commented, "The sale of the Ugandan Assets in 2010 has provided Heritage with a strong balance sheet for activities within the current portfolio and the ability to appraise further opportunities to generate value for shareholders. We remain active across the portfolio with seismic programs and drilling planned for 2011, including a multi-well exploration and appraisal drilling program in Kurdistan commencing in July. In addition, we are progressing with discussions with the Kurdistan Regional Government for the fast-track development of the Miran Field."

[sailor888]

4,30 CAD = 3,09 €

wegen:

CALGARY, ALBERTA--(Marketwire - April 26, 2011) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Plc (Toronto:HOC.TO)(LSE:HOIL.L), an independent upstream exploration and production company, announces that it is commencing with immediate effect, a buy back programme to spend up to $100 million to acquire its Ordinary Shares, as the Board of Directors (the "Board") considers that the current share price is trading at a significant discount to the intrinsic, underlying value of the Company.

Heritage shareholders passed a resolution at the last Annual General Meeting on 17 June 2010, allowing the Company to buy back up to 28,786,693 Ordinary Shares, representing approximately 10 per cent. of the Company's voting share capital. Heritage has been unable to commence a buy back programme until now as the Company has been in trading black-out for either operational or corporate reasons since the resolution was passed.

With the regulatory black-out having been lifted, the Board is now implementing with immediate effect, a share buy back programme of up to $100 million. Heritage announced recently that it had approximately US$600 million of cash at year end, excluding amounts reserved in connection with the tax dispute in Uganda. The Board, which collectively owns over 30% of the share capital, believes that the buy back of shares is a worthwhile investment and in the best interests of the Company and its shareholders.

The Company has a strong balance sheet with which to make the purchases whilst also progressing with current work programmes and continuing to seek further opportunities to add value. The Company is actively identifying prospects in 2011, through acquiring or processing seismic in Tanzania, Mali and Malta whilst also continuing with the appraisal of the Miran field in Kurdistan. Further wells will also be drilled on the Zapadno Chumpasskoye Field in Russia which could add a material increase to production levels.

Tony Buckingham, Chief Executive Officer, commented:

"The sale of the Ugandan Assets in 2010 has provided Heritage with a strong balance sheet and available cash. The recent share price performance following the discovery of the Miran gas field in Kurdistan neither reflects the underlying value of the assets nor our belief in the longer term prospects of the Company. The buy back of shares is in the best interests of the Company and its shareholders."

[sailor888]

am Ende 4,45 CAD = 3,20 €

[summer6]

Mahlzeit,
kann jemand was zur Dividende in 2011 sagen?!
Hab nix im Netz gefunden.

2010 waren es glaub ich 1,21€ pro Aktie.

Gruß
Summer 6

[weierHai]

auf eine weitere Div. mußt Du dich noch ein wenig gedulden ( vielleicht in ein paar Jahren) . Die Div. 2010 resultierte aus einer Sonderausschütung. ( Erlös von ca. 1,4 Mrd USD oder so ähnlich wegen des Verkaufs des Kingfisher Projektes in Uganda)
So weit mir bekannt ist hier noch der Steuerstreit aufgrund des Verkaufs mit dem Uganda noch immer nicht gelöst.....

der weiße Hai

[summer6]

Antwort auf Beitrag Nr.: 42.046.807 von weierHai am 05.09.11 23:42:32

Hört sich ja phantastisch an.....
Hab ja nur nen EK von 4,99€....

[ducatiman]

Heritage Oil Gains Entry Into Libya With SOSH Acquisition
Tuesday, October 04, 2011
Learn More

Libya
North Africa
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■Heritage acquires a 51% equity interest and control of SOSH, an established oil field service provider in Libya for cash consideration of US$19.5 million
■SOSH owns the entire share capital of Sahara Oil Services Limited
■SOS has the necessary long term permits and licences to provide onshore and offshore oil field services in Libya as well as the rights to own and operate oil and gas licences
■Through this acquisition Heritage is exploring ways to gain access to key producing fields and other licence opportunities in Libya
Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company today announced that a wholly owned subsidiary has acquired a controlling 51% interest in Sahara Oil Services Holdings Limited (SOSH) which holds the necessary long term permits and licences to provide oil field services in Libya, for a cash consideration of US$19.5 million. Through this acquisition Heritage is looking to play a significant role in the future development of the oil and gas industry in Libya.

Heritage Energy International Limited, a wholly owned subsidiary of Heritage, has, following consultation with local parties, acquired a 51% equity interest and control of SOSH which owns the entire share capital of SOS, a Libyan registered company providing services to the oil industry, for cash consideration of US$19.5 million.

SOS was established in April 2009 and has been granted long-term licences to provide full oil field services in Libya, including the ability to drill onshore and offshore and hold both oil and gas licences. SOS is based in Benghazi with a large operational yard and equipment.

During the last five months, Heritage established a base in Benghazi and has been in discussions with senior members of the National Transitional Council (NTC), the legitimate and recognised government of Libya, the Executive Committee which is the executive arm of the NTC and the National Oil Company and certain subsidiaries. The dialogue with these parties continues through SOS with Heritage exploring ways to assist the NTC and the state oil companies rehabilitate certain of their existing fields and recommence production.

Heritage has a strong cash position and a portfolio with an exploration bias. The acquisition of SOSH will help diversify the current portfolio by gaining access to some large producing fields in Libya. In addition, Heritage plans to use SOS to assist with the drilling of its targets offshore Malta and is actively looking to contract a rig to bring forward the drilling of Area 7. Heritage has an extensive data set of approximately 5,000 kilometres of 2D seismic, including data acquired in July 2011, which indicates the presence of multiple prospects and leads across Areas 2 and 7. The initial well planned to be drilled will be targeting c.500 mmboe.

Tony Buckingham, CEO, commented: "We are delighted to have acquired a controlling interest in an established oil field services company in Libya. We consider that Heritage, through SOS, is uniquely positioned to pursue field rehabilitation activities and be awarded exploration and production licences as we have operator status. This means Heritage is well placed to play a significant role in the future oil and gas industry in Libya. This acquisition is consistent with Heritage's first mover strategy of entering regions with vast hydrocarbon wealth where we have a strategic advantage. Ongoing discussions with the NTC and other stakeholders continue to highlight opportunities with the potential to transform Heritage."




HERITAGE OIL SUCCESSFULLY COMPLETES TESTING OF THE UPPER CRETACEOUS RESERVOIR IN THE MIRAN WEST-3 WELL



Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company, announces that it has completed testing of the oil bearing Upper Cretaceous reservoir in the Miran West-3 well in the Kurdistan Region of Iraq ("Kurdistan").



Highlights



· Maximum flow rate achieved from the Upper Cretaceous reservoir was 1,950 bopd, restricted by surface equipment

· Confirmed gross in-place P50-P90 contingent volumes of 53-75 MMbbls of oil in the Upper Cretaceous reservoir in the Miran West structure

· Results from the well confirm that development wells could produce 8,000-10,000 bopd per well from this reservoir

· Drilling operations continuing ahead as planned



Heritage has successfully completed testing of the Upper Cretaceous reservoir in the Miran West-3 well, after drilling to a depth of 876 metres. During testing the maximum measured rate achieved from this reservoir section was 1,950 bopd. Attempts to flow the well at higher rates were severely restricted by the capacity of the surface test equipment. The oil produced on test is estimated to be 15 degree API with very little associated gas, similar to that tested from the same interval in the Miran West-1 discovery well.



Pressure data has allowed the depth of the oil-water contact to be determined and this has confirmed previous gross in-place contingent P50-P90 volumes, estimated by management, of 53-75 MMbbls of oil in the Upper Cretaceous reservoir of the Miran West structure. This information will be incorporated into the ongoing interpretation of the newly acquired 3D data. In addition, based on management's interpretation of these results, it has been confirmed that future development wells in this reservoir section should be able to achieve 8,000-10,000 bopd per well on production.



Drilling operations are continuing on prognosis to test the deeper reservoirs discovered by previous drilling.



Tony Buckingham, CEO, commented:

"We are encouraged by the results of our first test in the Miran West-3 well which has confirmed the contingent resource in the Upper Cretaceous reservoir of the Miran West structure. Drilling of this well is demonstrating the ability to intersect the productive fracture network associated with multiple faults identified on recently acquired 3D seismic data. We are drilling ahead with a view to conducting the next test in the Lower Cretaceous reservoir."



- ends -



Heritage Energy Middle East, a wholly-owned subsidiary of Heritage, is operator and holds a 75% interest in the Miran Block and Genel Energy International Limited the remaining 25%, although there are third party back-in rights. The Miran Block has an area of 1,015 square kilometres and is located west of the city of Suleimaniah. The Miran Block contains two large structures, Miran West and Miran East, which have been mapped from 2D and 3D seismic programmes conducted by Heritage.

[ducatiman]

Heritage Oil loses bid over tax dispute
Thu 22 Sep 2011

HOIL - Heritage Oil

Latest Prices
Name Price %
Heritage Oil 227.80p +4.64%
Tullow Oil 1,272.00p +2.42%

FTSE 100 5,102 +3.19%
FTSE 250 9,568 +1.51%
FTSE 350 2,690 +2.97%
FTSE All-Share 2,632 +2.91%
Oil & Gas Producers 7,392 +4.32%

LONDON (SHARECAST) - Heritage Oil has lost its bid to suspend proceedings over a tax dispute arising from its sale of interests in Uganda last year.

Since the Ugandan High Court made the ruling last week, the government has continued to seek to recover at least $404m in taxes levied on Heritage's $1.45bn sales of stakes in two blocks in the Lake Alvertin Rift basic to Tullow Oil last year.

Ugandan attorney general Peter Nyombi said: "The government is taking and will continue to take all prudent steps necessary to defend itself. Both the tax appeals tribunal and the high court ruled that the tax dispute should be resolved within Uganda."

Uganda's tax appeals tribunal had suspended the proceedings in August pending the high court ruling. International arbitration over the same dispute is also underway in London.

Law makers in Uganda have called on the speaker to reconvene parliament from recess for an emergency session to discuss the dispute.

In March, the Ugandan government signed an agreement with Tullow which separated the tax dispute from Tullow's $2.93bn deals with France's Total SA, and China's CNOOC.

However, Tullow was forced to pay $313m as security for the unpaid tax bill and in April Heritage received a claim from the London high court in which Tullow is seeking to recover the funds.

Heritage then began action against the Ugandan government in May, saying the sale of its assets in Uganda doesn't attract a capital gains tax based upon "comprehensive advice" from leading tax experts in Uganda, the U.K., and the U.S.

The share price fell 7.60% to 224.80p by 16:36.

[ducatiman]

LONDON (Reuters) - British firm Heritage Oil is increasing its footprint in Tanzania, as oil companies flock to East Africa after a series of big discoveries have lifted hopes that the region will become a major hydrocarbon exporter.
The company said on Tuesday that it won the licence to explore the Rukwa Rift Basin in western Tanzania, adding to the positions it holds in the east of the country.

Heritage, which also has interests in Kurdistan, Pakistan and Russia, was formerly partnered with Tullow Oil in Uganda where the two made a multi-billion barrel oil discovery in 2006.

"We are delighted to have signed the Rukwa PSA which shares many geological similarities with the Albert Basin in Uganda where we have had previous success," Heritage's Chief Executive Tony Buckingham said in a statement.

East Africa has opened up as the new frontier for explorers since Tullow and Heritage made their discovery, with the search for hydrocarbons gathering pace to the south east of Uganda in offshore Mozambique and Tanzania, where major gas discoveries were made last year.

Heritage said it would now work on acquiring seismic data on the block.

Shares in Heritage, which is involved in a tax row with Uganda, traded down 1.9 percent to 215 pence at 0902 GMT, compared to a FTSE250 index down 2.6 percent and valuing the firm at about 605 million pounds.

[ElfenbeinelaufenschnellermitKo]

LZ ......

[Hadock]

Hallo,

was bedeutet LZ ?!

[ElfenbeinelaufenschnellermitKo]

Lesezeichen.

Haben die die ganze Zeit Aktien zurückgekauft?

[Falke7]

Antwort auf Beitrag Nr.: 42.808.270 von ElfenbeinelaufenschnellermitKo am 26.02.12 12:14:51

Es besteht ein Aktienrückkaufprogramm.
Ein Operation-UPDATE müßte bald mal wieder kommen.
Man hört in letzter Zeit so wenig,finden etwa Fusions-oder
Übernahmegespräche statt?
Ist der Tax-Dispute in London schon entgültig entschieden?

Weis jemand etwas dazu?


Falke7

[ElfenbeinelaufenschnellermitKo]

Antwort auf Beitrag Nr.: 42.808.694 von Falke7 am 26.02.12 15:23:21

Auf yahoo, komt fast jeden Tag ein Kaufprogramm

[ducatiman]

LONDON (SHARECAST) - UBS has upgraded its rating for oil and gas group Heritage Oil from neutral to buy following the recent weakness in the shares.

The Swiss broker notes that since February, the stock has de-rated and the shares are now down 22% year-to-date in US$ terms, having underperformed other exploration and production companies (E&Ps) by 45%.

"We see this as unjustified and given unchanged underlying fundamentals we upgrade to buy," UBS said.

UBS says that current drilling projects and new ventures could provide a range of catalysts. "Heritage is actively looking for a rig for drilling in Malta, and due to the significant prospectivity in the area (previously discussed drilling a 500Mboe prospect), we think this could cause the shares to re-rate."

Furthermore, the broker sad that, if media reports are to believed and Heritage has won a Nigerian asset bid, then this would be "transformative" adding reserves and production.

UBS leaves its target price of 190p unchanged, set at a 20% discount to its risked net asset value estimate of 237p and in line with Heritage's distoric average.

[ducatiman]

Heritage Oil Plc issued its Interim Management Statement for the period from January 1, 2012 to May 18, 2012, in accordance with reporting requirements of the EU Transparency Directive.

Highlights •The Miran West-3 well was drilled to a total depth of 11,575 feet (3,528 meters) and the primary target of the Jurassic gas reservoir was successfully tested. The well is being suspended pending completion as a production well •Well testing of the main Jurassic reservoir resulted in a constrained flow of up to 22 MMscf/d of wet gas with a yield of 20 bbl/MMscf of 55 degree API condensate •It is estimated that this well will be capable of delivering 50 MMscf/d of wet gas and 1,000 bbl/d condensate when put into production •The Miran East-1 well is currently at a depth of 6,627 feet (2,020 meters). Oil shows encountered whilst drilling in the Upper Cretaceous are consistent with wireline log interpretation indicating the presence of hydrocarbons and pressure data indicates that the East and West structures are in communication •Operations on Miran East-1 well are on schedule and drilling is expected to take a further five months •The full processed 3D seismic, across the Miran Block, is now available and initial interpretation of the data has been completed •Tanzania work program commenced in the recently awarded Kyela and Rukwa licenses with the acquisition of a high resolution gravity survey, following which a seismic program is planned •Production for the first quarter 2012 averaged 605 bopd, an increase of 40 percent on the same period in the prior year •Cash position of approximately $154 million, excluding amounts related to the Ugandan tax dispute, as at 31 March 2012

[Hadock]

Hallo, es gibt richtige spannende Neuigkeiten bei Heritage Oil;

FoxDavies Daily Monitor - Heritage Oil & Gas, Essar Energy and Ithaca Energy
Monday, July 02, 2012

Heritage Oil & Gas (HOIL LN, 123p, ▲ 5.3%) - Bold and Ambitious, but Execution is Key: On the face of it, Heritage's acquisition has a solid base; a tired underinvested asset that will benefit from the TLC lavished on it by a new owner. However, the risks are significant, and not limited to the technical. Until such times as Heritage recovers its costs ($850mm), the Company is on the hook for the risk capital, and given how slowly things can move at times in Nigeria, it begins to look a little more risky when you consider that the Company's consortium only has until 2019 to recover the $850mm with certainty. This also ignores the refinancing risks associated with swapping out the bridge with an RBL facility. Furthermore, the region in which these assets operate are notoriously difficult, which given the CEO's past life, may not actually be the issue that it has been for other operators in the region. Despite these issues, these assets have the potential to generate a return for investors, which becomes a significant return if the licence gets renewed. We believe that if structured properly and executed well, this will be value enhancing for investors, but the downside risks are significant; ahead of the conference call we are cautiously optimistic. In this news:

OML 30, located onshore in the delta in Nigeria, includes eight producing fields and associated infrastructure, including a segment of the 850,000bpd capacity Trans Forcados pipeline
The Proposed Acquisition represents a significant opportunity for Heritage to achieve a material change in production and reserves
OML 30 is currently averaging gross production of ~35,000bpd, increasing Heritage's net production from 605bpd to ~11,350bpd
Management estimates that OML 30 has gross proved and probable reserves of 707mm bbl of oil and 2.5tcf gross reserves of gas
Net proved and probable reserves increase 356% from 61mm bbl to a management estimated 278mm bbl
Potential to ramp up production of OML 30 in the short term by refurbishing and maintaining existing infrastructure
Cash consideration of US$850 million, net of costs, for Shoreline to purchase a 45% participating interest in OML 30 and related assets under the corresponding joint operating agreement
OML 30 expected to be cash generative immediately following completion of the Proposed Acquisition ("Completion")
Shoreline will be one of the leading indigenous companies producing in Nigeria
Combines Shoreline Power's energy and infrastructure operating expertise and respected network of relationships within Nigeria with Heritage's strong technical team with relevant geographic expertise
Shoreline and Heritage will work to develop close relationships with local communities and other stakeholders
The Proposed Acquisition provides Heritage with exposure to Nigeria, which is reported to contain the second largest proved reserves in Africa (BP Statistical Review), and provides further growth opportunities in a prolific hydrocarbon region
The Proposed Acquisition will further diversify Heritage's portfolio, balancing exploration with production, while extending Heritage's geographic footprint within its core areas of Africa and the Middle East
The Proposed Acquisition is classified as a reverse takeover and consequently the Heritage Shares (as defined below) will be suspended with effect from Monday 2 July 2012 until further information on the Proposed Acquisition is published


Read more: http://www.oilvoice.com/n/FoxDavies_Daily_Monitor_Heritage_O…

[Falke7]

Heritage Oil heute +21,64% - Übernahme mit Produktion geplant

Falke7

[Falke7]

Heritage Oil heute +18,09% -das Boot steigt!-

Falke7

[Falke7]

Heritage Oil heute +20,42% -Umsatz an LSE 14Mio.Stück-

Falke7

[Hadock]

Hallo,

das ist der Grund:

Genel Energy To Buy Addl. 26% Interest In Miran Block From Heritage Oil

OTTAWA (dpa-AFX) - Genel Energy Plc (GEGYF) Tuesday said it has agreed with Heritage Energy Middle East Ltd., a unit of British oil firm Heritage Oil Plc (HOIL.L), to acquire an additional 26 percent interest in Miran exploration block in the Kurdistan Region of Iraq for $156 million cash.

Upon completion of the acquisition, Genel Energy will hold a 51 percent working interest in the Miran Block, and Heritage Energy Middle East will hold 49 percent. Through this acquisition, Genel Energy aims to build a material gas business alongside its existing oil business in the medium term. Heritage Oil shares rose about 14 percent in London.

Genel Energy will also provide a bilateral loan of $294 million to Heritage, secured on Heritage's shares in Heritage Energy Middle East or HEME as well as HEME's remaining working interest in the Miran Block.

As part of the deal, Genel Energy will become joint operator of the Miran Block. The acquisition will allow it to increase its interest in the Miran Block, a commercial gas discovery, from a 25 percent working interest to a 51 percent. As an Anglo-Turkish company, it will develop the Miran Field and export gas to Turkey.

Tony Hayward, chief executive officer of Genel Energy stated, 'This acquisition represents an excellent opportunity to extend our interest in, and assume joint operatorship of, a commercial gas discovery and high quality asset in the Kurdistan Region of Iraq. Following our recent acquisition of a 44% interest in Bina Bawi, it will further enhance our position as the leading oil and gas company in Kurdistan.'

Genel Energy noted that the acquisition and the loan will be funded and serviced from its existing cash resources.

Separately, Tony Buckingham, chief executive officer of Heritage Oil stated that the proceeds provide significant financial flexibility and will allow it to fund its proposed acquisition of OML 30 without any rights issue or other additional capital requirement.

HOIL.L is currently trading at 192.3 pence, up 24.2 pence or 14.4 percent, on a volume of 6.97 million shares.

[Falke7]

Hallo an alle Investierten,

der geplante Verkauf der restlichen 49% von Miran scheint mir
sinnvoll und klug zu sein!
(politisches Risiko,immense Entwicklungskosten,Zinslasten)

Falke7

[CCCOOO]

Moin moin,

hier wurde ja lange nichts mehr geschrieben.

Falls einige es vergessen haben sollten Heritage Oil hat auch Explorationsrechte in Mali.

In dieser News kann man das sehr gut sehen:

http://www.faz.net/aktuell/wirtschaft/mali-das-sagenhafte-re…

Auf der Homepage von Heritage Oil ist das momentan nicht sofort ersichtlich, aber wenn man per “Hand“ Mali einträgt bekommt man die Infos.

http://www.heritageoilplc.com/mali.cfm

[StockPix]

Ganz schöne Zitterpartie das ganze, aber zumindestens läuft OML30 nunmehr im prognostizierten Rahmen - bin gespannt, ob die das volle Potential ausschöpfen können. Wäre immerhin eine Verzehnfachung der aktuellen Fördermenge. Sollte die Ölpreise einigermaßen stabil bleiben, dann wäre HOIL eine echte cashcow.

Der Markt will aktuell davon nichts wissen, zumal der gute Buckingham auch nicht sonderlichen Ruhm genießt. Hier beachte man mal den Mitstreiter Genel, der mit Vorschusslorbeeren überhäuft wird, weil der Kapitalmarktfreundliche Ex-BP-Chef hier mitmischt.

Echter Vorteil bei HOIl ist, dass durch die Aktionärsstruktur eine permanente Verwässerung durch Aktienemissionen, wie es andere vormachen, nicht stattfindet.

[Hadock]

Hallo,

lange wars es still mit Übernahmen bei den kleine und mittleren Öl-Companies

Bei Heritage oil tut sich was. Wer ist der nächste Kandidat?

http://www.marketwatch.com/story/qatari-investment-fund-to-b…

LONDON--A former North Sea diver with a long track record of seeking oil in volatile regions is set for a huge windfall after a Qatari investment fund run by the country's former prime minister agreed to buy Heritage Oil for GBP924 million ($1.55 billion) on Wednesday.

Anthony Buckingham, 62 years old, founded Heritage in 1992 to explore offshore oil and gas interests off the coast of Angola. Since then, the company he still runs and owns 34% of has moved into oil-producing assets in Nigeria and Russia, and has licenses to explore for oil in Tanzania and Papua New Guinea.

But the company has attracted controversy along the way, from a lawsuit over a large tax payment in Uganda to Mr. Buckingham's own involvement with private military contractors in Africa.

The Al Mirqab investment fund on Wednesday said it would buy Heritage through a wholly owned investment vehicle in a deal agreed with Heritage's independent directors. Al Mirqab is owned by Hamad Bin Jassim Bin Jaber Al Thani, Qatar's former premier and head of its sovereign-wealth fund until last summer. The deal, priced at a 25% premium to Heritage's closing share price on Tuesday, still requires shareholder approval.

Under the terms of the deal, Mr. Buckingham will initially sell a 14% stake in the company, with his remaining 20% holding locked up for five years. Details have yet to be confirmed, but based on the deal's size and current pricing, Mr. Buckingham is set to earn over GBP300 million.

Soon after founding Heritage, Mr. Buckingham in 1993 became a business partner in private military company Executive Outcomes, whose senior personnel were primarily former members of the South African Defense Force and special forces, according to the prospectus issued when Heritage listed in London in 2008. In the 1990s, Executive Outcomes was employed by governments in Angola and Sierra Leone in operations against rebel forces in the respective countries.

The prospectus said Mr. Buckingham has had no involvement with any military or security operations since the spring of 1998. He declined through a spokesman to comment when contacted by The Wall Street Journal on Wednesday.

Later, in 2007, Heritage opened up a major hydrocarbon system in Uganda's Lake Albert basin. Three years later, Heritage sold its stake in those blocks to Tullow Oil PLC, beginning a battle between the two companies over a capital-gains tax the Uganda Revenue Authority said was owed on the $1.45 billion transaction.

Heritage declined to pay the tax, causing the Ugandan government to block the deal's completion. In turn, that hindered Tullow's plans to sell part of the oil field to France's Total SA and China's Cnooc Ltd. Tullow initially paid the Ugandan government $313 million to settle the outstanding capital-gains tax. But last summer, the High Court in London ruled Heritage should reimburse Tullow for the payment.

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