Heritage Oil JV wins exploration license in Pakistan

Pakistan on Nov. 17 granted a petroleum exploration license for Block 3068-2 (Sanjawi) to a JV of Heritage Oil & Gas, Sprint Energy, and Trakker Energy.

Nov 26th, 2007

By an OGJ correspondent
KARACHI, Nov. 26 -- Pakistan on Nov. 17 granted a petroleum exploration license for Block 3068-2 (Sanjawi) to a joint venture of Heritage Oil & Gas Ltd. 60%, Sprint Energy (Pvt.) Ltd. 30%, and Trakker Energy (Pvt.) Ltd. 10%. Heritage will serve as operator.

Block 3068-2, which lies in Zone-II, covers 2,258 sq km in the Loralai and Kohlu districts of Balochistan. The JV intends to invest $10.1 million in the block to carry out geotechnical studies; acquire, process, and interpret 330 km of 2D seismic data; and drill two exploratory wells during Phase I of the initial 3-year period.

This is Heritage's first exploration license in Pakistan.

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