Thread: Archive News - Iraqi Dinar Think Tank - 06/05/09 - 04/09/09

British company announced a significant oil discoveries in the territory of Iraqi Kurdistan

Heritage Oil said the British company for oil exploration on Wednesday it had found up to 4.2 billion barrels of oil in the Kurdistan region of Iraq and the announcement led to an increase in the company's shares 18 percent.

Heritage said in a statement that the field west of Miran can produce between ten thousand and 15 thousand barrels per day by the end of this year, and there are plans to transport oil from the region by truck to the field lines are linked to Iraq's export pipelines ..

Analysts hailed the disclosure and raised the price target for shares Heritage, in spite of doubts on the legality of the oil contracts on the Kurdish issue and the problems between the two governments in central Baghdad and Arbil, the regional.

Said Richard Griffith, oil analyst at Evolution Securities, "reports today means a radical shift to the Heritage."

And the passage of oil to be extracted from the Kurdish regions of Iraq through the rest of the access to export markets, the needs of the region that do not exceed a few thousands of barrels of oil per day, which would easily meet the current wells.

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