Thursday, 30 October 2008

Heritage Oil to drill in Kurdistan

Heritage Oil Limited, an independent upstream exploration and production company in our portfolio, announced that it plans to drill an exploration well in the Kurdistan Region of Iraq.

They have secured a rig to commence drilling the Miran West-1 exploration well. Obviously, this is high risk but it looks to us like a high-impact exploration with the potential for billions of barrels of oil from the licence.

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