Frederick Kozak
Heritage Oil Corp.
HOC-T
COMMENT
Jul 16, 2008
Oil exploration in Uganda. Discovery in Lake Albert. Currently drilling Kingfisher2 to appraise Kingfisher, which tested 14,000 barrels a day of oil but did not reach primary target. Should be reaching total depth near the end of this month. Has potential to prove up a very exciting oil discovery.
Just bought Turkey’s Genel Enerji, which has a lot of leases in Kurdistan, so can now export. Very soon will be exporting as much as 100,000 barrels a day giving them cash flow very quickly. Stock has run a lot lately so a lot of the upside is now temporarily in the stock.
Just merged with General Energy International. Recently sold his holdings. Liked the prospectivity they had in Kurdistan and Uganda but didn't think they needed to make the merger and this is now being investigated.
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