1.
Sex tape spliced into graduation video
LONDON, Nov. 23 (UPI) -- Heritage Oil announced it would use its proceeds from the sale of its Ugandan assets to Italy's Eni to help finance its core operations in Iraqi Kurdistan.
Heritage announced it was walking away from a merger with Turkey's Genel Enerji following the sale of its Uganda assets to Italian giant Eni. The merger, the Financial Times reports, would have created the largest investor in the Kurdish provinces of Iraq.
Heritage during the weekend reached a deal with Eni to sells two oil blocks in Uganda that cover an area of more than 4,600 square miles in the energy-rich Albert Basin.
The company said it would use the proceeds from the transaction to finance exploration, appraisal and development of areas in Iraqi Kurdistan, "which remains a core area of focus."
Heritage in August announced the completion of its first testing at the Miran West-1 discovery in Sulaimaniya province.
In June, Heritage said it had raised $216.7 million from stock sales to finance work on a pipeline to connect the Taq Taq and Miran oil fields in Iraqi Kurdistan.
The Eni deal requires approval from the Ugandan government.
|
|
|
|
|
|
| Additional Energy Resources Stories | |
BAGHDAD, May 31 (UPI) --
Iraq's fourth energy auction has flopped, denting hopes of challenging Saudi Arabia as the world's top producer.
|
THOUSAND OAKS, Calif., May 31 (UPI) --
Teledyne Technologies is boosting its acoustic sensor and communication device offerings with the acquisition of Washington's BlueView Technologies.
|
Inventories of bank-owned foreclosures for sale vary increasingly by state as the latest local data suggests that lenders are beginning to release a long-awaited wave of more than one million backlogged foreclosures, primarily in states where a court...
|
Behind the impulse in Europe to form eurobonds or collectively insure bank deposits is the fear that Spain will require a very expensive fix.
|
| Stories | Photos | People | Comments |
View Caption
