Tag Archives | Heritage

Video: Iraq seeks to Rebuild its ‘Destroyed’ Heritage

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Rebuilding efforts in Iraq have been slow since the defeat of the Islamic State of Iraq in the Levant (ISIL, also known as ISIS) last year. But it is not just about reconstructing […]

Conservation of World Heritage site of Samarra

UNESCO and Iraq today signed an agreement for the Conservation and Management of the World Heritage site of Samarra Archaeological City, which will start with the restauration of the Great Mosque and Al-Malwiyah Minaret. The site has been on UNESCO’s List of World Heritage in Danger since 2007. The agreement was signed at UNESCO’s Headquarters […]

Hatra Added to List of World Heritage in Danger

The World Heritage site of Hatra has been inscribed on the List of World Heritage in Danger due to damage inflicted to the property by armed groups. During debates today, many World Heritage Committee members voiced concern about the state of Iraqi heritage following acts of intentional destruction. They also declared their willingness to help […]

Heritage Updates on Kurdistan Operations

Shares in Heritage Oil closed down 1.9 percent on Thursday, following the company’s interim management statement. The companay gave the following update on its operations in Iraqi Kurdistan: Following the Initial Sale, HEME currently holds a 49% interest in the Miran Block and continues to act as operator. Miran West Initial work-over operations to prepare […]

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Heritage Oil Shares Jump on Sale to Genel

By John Lee. Shares in Heritage Oil closed up 12.3% on Tuesday following the announcement that it will sell part of its Miran Block in Kurdistan and borrow money from Genel Energy to raise $450 million to fund oilfield purchases in Nigeria. The comany will sell a 26 percent stake in the block to Genel and […]

Genel Energy Buys More Kurdish Assets

By John Lee. Genel Energy has increased its commitment to oil exploration in Iraqi Kurdistan with the announcement that it has agreed to acquire an additional 26 per cent interest in the Miran exploration block from Heritage Oil. The announcement comes just a day after the Kurdistan Regional Government’s Oil and Gas Council approved the […]

A Good Month for Iraqi Oil Shares

By John Lee. Like good comedy, the secret of good investment is often said to be timing. Someone buying shares at the end of June in Heritage Oil, which has interests in Iraqi Kurdistan, may have had reason to be concerned if they planned to sell shortly afterwards, as the shares were suspended in early July […]

Heritage Oil Jumps 21% on Resumption of Share Trading

By John Lee. Shares in Heritage Oil closed the day up 21% at 148.80p on Tuesday, following the resumption of trading on the London Stock Exchange. Trading in the shares had been temporarily suspended on 2nd July pending publication of a prospectus relating to the company’s proposed acquisition in Nigeria, which was issued yesterday. On […]

Heritage Oil Interim Results

By John Lee. Heritage Oil, which has operations in Iraqi Kurdistan, has published its interim results for the six months ended 30 June 2012: Operational Highlights · Execution of an agreement to acquire a transformational major interest in OML 30 in Nigeria (“Proposed Acquisition”), which is subject to shareholder approval, and is expected to complete […]

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Heritage Oil Reserve Update

By John Lee. Heritage Oil, an independent upstream exploration and production company, has announced the publication of an independent Competent Person’s Report (“CPR”) compiled by industry specialists RPS Energy Consultants Limited (“RPS”). Trading in the company’s shares remain suspended pending an acquisition. On 29June 2012, Heritage announced the proposed acquisition of a major interest in […]

Heritage Oil Suspends Shares Following Acquisition

Shares in Heritage Oil, the petroleum explorer and producer with operations in Iraqi Kurdistan, have been suspended following the announcement of a major acquisition in Nigeria. Together with a local Nigerian partner, Shoreline Power Company Limited, the company has reached agreement to acquire a 45% participating interest in a producing oil mining lease in Nigeria […]