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Heritage Oil plc
Type Public (LSE: HOX, TSXHOC)
Founded 1994
Headquarters Jersey
Key people Michael Hibberd, Chairman
Tony Buckingham, CEO
Industry Energy
Revenue $5.1 million (2008)
Operating income $(37.6) million (2008)
Net income $(41.3) million (2008)
Employees 70[1]
Website www.heritageoilltd.com

Heritage Oil (LSE: HOIL, TSXHOC) is a leading Jersey-based oil and gas exploration and production business. Its activities are focused on Africa, the Middle East and Russia. It is a constituent of the FTSE 250 Index. It has a secondary listing on the Toronto Stock Exchange.

Contents

History

The Company was formed in 1992 to exploit oil reserves in Africa, the Middle East and Russia. It was first listed on the London Stock Exchange in 2008 and moved its head office from Calgary to Jersey also in 2008.[2]

In April 2009 the Company disposed of its interests in Oman in order to focus on its core assets.[3]

In May 2009 the Company discovered a major oil field following test results at the Miran West well in Kurdistan.[4]

Operations

The Company is the operator and holds 50% interests in two licences in the Albert Basin of the Western Rift Valley of Uganda. Recent exploration activity has focused on the eastern shores of Lake Albert which straddles the border of Uganda and the Democratic Republic of Congo, and Kurdistan. The Company is also active in Russia, Malta, Mali and Tanzania.

Ownership

As at 31 December 2008 Tony Buckingham still owned 33.1% of the company.[5]

References

External links

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