Heritage Oil Announces Acquisition of Common Shares of PetroFrontier Corp
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Heritage Oil Plc (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, today announces that the Company acquired 1,900,000 common shares (“Shares”) of PetroFrontier Corp. (“PetroFrontier”) representing 2.39% of the outstanding Shares. Together with Shares already held by Heritage, the Company now holds 15,860,467 Shares, representing approximately 19.98% of the outstanding Shares of PetroFrontier. Heritage also sold 2,311,767 previously acquired warrants.
The Shares were acquired through the facilities of the TSX Venture Exchange for an aggregate price equal to CDN$278,160. Heritage may increase or decrease its ownership of securities of PetroFrontier depending upon future market conditions.
All Shares acquired and/or held by Heritage in PetroFrontier were acquired for investment purposes.
Heritage Oil Plc
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Notes to Editors
— Heritage is listed on the Main Market of the London Stock Exchange and is a constituent of the FTSE 250 Index. The trading symbol is HOIL. Heritage has a further listing on the Toronto Stock Exchange (TSX:HOC).
— Heritage is an independent upstream exploration and production company engaged in the exploration for, and the development, production and acquisition of, oil and gas in its core areas of Africa, the Middle East and Russia.
— Heritage has producing assets in Nigeria and Russia, exploration assets in Malta, Tanzania, Pakistan, Libya and the Democratic Republic of Congo and an exploration, appraisal and development asset in Kurdistan which is in the process of being divested.
— All dollars are US$ unless otherwise stated.
For further information please refer to www.heritageoilplc.com
Source: Heritage Oil Plc
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