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Heritage admits its Iraq oil find is gas


first_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com KCS-content Share Show Comments ▼ HERITAGE OIL revealed yesterday that its Miran oil field in Iraq turns out to be mostly filled with natural gas. FTSE 250-listed Heritage said yesterday it will continue drilling at the Miran site, which is one of the largest gas fields to be discovered in Iraq.Its shares sank 29 per cent to 310p, as investors had anticipated a lucrative oil find at the field in the Kurdistan region of the country. Heritage expects first production in 2015, with an expected output rate of over 100m cubic feet per day.“We are considering various development options including a tie-in to planned infrastructure,” said chief executive Tony Buckingham. “This discovery has the potential to generate substantial further value for our shareholders and benefit the people of Kurdistan and Iraq.”The firm said it is mulling using the under-construction Nabucco pipeline to transport its gas output to Europe. whatsapp Heritage admits its Iraq oil find is gas whatsapp Wednesday 26 January 2011 7:15 pm Tags: NULLlast_img read more