HERITAGE OIL ANNOUNCES ACQUISITION OF COMMON SHARES OF PETROFRONTIER CORP.
Heritage Oil Plc (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 Fourth Floor, Windward House La Route de la Liberation JE2 3BQ Jersey Channel Islands
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