Heritage Oil plans to price private placement of stock

By Devika Patel

Knoxville, Tenn., Oct. 25 - Heritage Oil Corp. announced it will price a private placement of shares.

The company intends to sell common shares on terms which will be determined on the pricing date, Oct. 26.

JPMorgan Cazenove Ltd. will be the sole global co-ordinator as well as a joint bookrunner and placing agent. Canaccord Capital Corp. will be the other bookrunner and agent.

Proceeds will be used for exploration and development in Uganda, the Kurdistan region of Iraq, Russia and the Democratic Republic of Congo, potential strategic acquisitions, as well as for general working capital purposes.

Heritage is a Calgary, Alta.-based oil and gas production company.

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