Heritage Oil acquires further stake in PetroFrontier
Heritage Oil has acquired 1.9m common shares in PetroFrontier Corp, the company announced Tuesday.
Heritage Oil has acquired 1.9m common shares in PetroFrontier Corp, the company announced Tuesday.
Heritage, an independent upstream exploration and production organisation, now holds 15.86m or 19.98% of the outstanding shares of Petrofinder.
Heritage has also sold 2.31m previously acquired warrants.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The shares were purchased for investment purposes through TSX Venture Exchange for an aggregate price equal to CDN$278,160.
The FTSE 250 company may choose to increase or decrease its ownership of securities of PetroFrontier depending upon future market conditions.
Heritage shares rose 5.95% to 187.00p at 14:30 Tuesday, while oil and gas company PetroFrontier shares were up 7.69% at CDN$0.14 in Toronto.
RD
-
Should you sell in May this year?
The market adage looks unlikely to apply in 2024, and global equities are proving resilient
By Max King Published
-
Should you invest in UK equities?
The FTSE 100 hit a record high this week, but UK equities remain unloved and undervalued compared to their global and US peers. Should you snap them up at a discount?
By Katie Williams Published