Heritage Oil PLC HOIL

Latest Morningstar Commentary
DateAuthor Headline

Latest Company News

Regulatory News Abstract
DateType Story
30/04/2013Trading Statement Expected to set the basis for future growth
ceo - "We expect to continue to be very active across the exploration portfolio with activity increasing in Tanzania and seismic programmes being undertaken in PNG...will continue into 2014 and is expected to set the basis for future growth for our company"
04/04/2013Business Event Arbitration update
The company responded to recent press speculation and statements attributed to Ugandan officials in relation to confidential international arbitration proceedings which are ongoing between the Government of the Republic of Uganda and Heritage Oil & Gas Ltd following the sale of its interests in Blocks 1 and 3A. The company is still reviewing the decision but the recent press comments attributed to the Ugandan Government and/or the Uganda Revenue Authority are a misleading representation of a detailed decision. While the arbitral tribunal concluded that it does not have jurisdiction to hear arguments relating to the underlying substantive Ugandan tax matters. The company is concerned to note that press comments attributed to the Ugandan authorities regarding the arbitral decision are inaccurate as well as being breaches of the requirement of confidentiality imposed upon both parties to the proceedings
02/04/2013Business Event Farm-in Agreement with LNG Energy
The company has agreed with LNG Energy Ltd. to farm-in to two licences onshore Papua New Guinea. Two licences, Petroleum Prospecting Licence No: 319 and Petroleum Retention Licence No: 13 have gross areas of approx. 2,025 and 160 square kilometres respectively. The company will earn an 80.0% working interest in each licence and will be appointed operator. The licences are located in a known hydrocarbon bearing region that includes the multi-TCF Triceratops and Elk/Antelope discoveries. The company will make US$4.00m contribution to LNG Energy's back costs on the licences. Farm-in completion is expected within the short term, subject to customary conditions precedent including governmental approvals which the company expects will be met
23/01/2013Disposal Completion of Kurdistan Disposal
The company has completed the disposal of the remaining 49.0% interest in the Miran Block in the Kurdistan Region of Iraq. The company issued the Exchange Repayment Notice signifying the intention to repay the $294m loan made by Genel Energy Plc to the company. Completion of the sale was subject to the approval of the company's shareholders, which was received overwhelmingly at the EGM. Completion was also subject to relevant approvals granted by the Regional Council for the Oil and Gas Affairs of Kurdistan, which have been received