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Arrow335

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Arrow335

Re: None

Wednesday, 05/06/2009 6:24:57 PM

Wednesday, May 06, 2009 6:24:57 PM

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HOC.TO - 11.24 +3.29 +41.38% LONDON, May 6 (Reuters)

British oil explorer Heritage Oil (HOIL.L) said on Wednesday it has discovered up to 4.2 billion barrels of oil in the Kurdish area of Iraq, adding to pressure on Baghdad and the autonomous region to unblock a legal impasse stalling oil projects.

Heritage said in a statement following the results of its first drilling on the Miran West field that it could contain 2.3 to 4.2 billion barrels of oil-in-place and have recoverable reserves of up to 3 billion barrels.

http://www.reuters.com/article/marketsNews/idAFL656621320090506?rpc=44

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