The tiny Irish stock on the brink of landing 'the first' post-sanction oil deal in Iraq. Ref 'Fleet Street Letter' 12-04-04..

morning gra - hope you have a nice bit of festive tinsel around your screen then - lol

Angelse, morning!

thinking about it, when are the markets closed during the festive period?

gra: don't know for sure but think they're closed 25-28 incl. Might be closed on 3rd Jan, but not sure.

Morning Tokyo,
Ican`t get onto fyb to reply to you, i`ve updated my user profile here, could you do the same?,
Dexter

Tokyo

You must have had a good lie in as no posts from you after last night's tour de force. Fascinating that we are now up to 5 propositions. Just scanned through the posts and feel that we are moving up and down. Do you want the good news or the bad news. Lets get the, just possibly, bad news out of the way. I am becoming somewhat worried by tenders 1 or 2. It is the reference to sums of $150M and 200M for the two sites; it also mentions companies plural. PET would be happy with one site, surely, and so would we. What worries me is the reference in the Irish Independent article to $250M which appeared to be inside information. If these last bids have been sealed envelope stuff against a new spec., i.e. costs plus profit element, ot could be that PET have been outbid.

There could be two offsetting pieces of good news. The Jordan news appears to be direct from the horses mouth and that makes a great deal of sense when linked to PET obtaining a licence for Block 6. That is clearly the bigger opportunity but it is not definite revenue in the short-term. Tenders 1 and 2 are firm revenue, the only speculation being the instability of the situation. Sudan also looks a good bet as it is clear that a contract is going to be awarded, although the Teeling quote appears old; is there anything more recent from him or that links PET to the imminent award? Tender 3 probably becomes more likely if PET have not won either of Tenders 1 or 2.

Tenders 1 an 2 are clearly imminent. Many of the Iragi's are clearly westernised to an extent and it may well be that they will want all this done and dusted before Christmas.

Eric

the 250m is being backed by a japanese house i assume for an oftake aggrement if theY get 30% risk sharing for any recoverable oil

eric, nice to see some lateral thinking. Lets say the ministry likes the idea of PET in the histrionics aspect of the situation and therefore gives them two tenders initially. Simple dream at the mo. With the prospect of 'making political' friends with neighbours (Jordan) and block 6 can be jointly approached with a company that they have publically built a future with, that means less debate in the future. Not wishing to 'big-up' the potential here. I still see many pitfalls ahead, security probably the biggest concern. If the post in respect of who pulls the strings in the local offices over there is anything to go on, once you have a history with the local authority they may just like keeping it that way.

P.S. can you hear my fingers struming the desk whilst I am waiting....

watcher

watcher

On reflection, I am still going with one of Tenders 1 and 2, plus Block 6. The Iragi Ministry may not mention Block 6; why should they? But I think the odds are high because of the dropped comment by the Jordanian cabinet minister. I prefer to be looked on as a vertical thinker rather than a lateral one given my expectations for PET rocketing! My concern about the $250K from the Irish Independent could be answered by: (a) the paper putting the value of the funding together with the japanese backing figure; (b) the fact that they will need to invest in some non-chargable infrastructure alongside what they can bill the IOM for. Can any of the oil buffs comment on that? I think, though, that I have answered my own worry and am back into strumming mode with you! Its a nice, happy, anticipatory sort of ditty; a bit like a Pooh Bear one when he spies a honey pot!

Eric

nice one eric I know that tune, playing at the mo, with PET and DES in mind

watcher

125k 'T' trade at 4.37! significant?

morning all,
just found this, i don`t know if it`s been posted before. after reading it, it occured to me, what with PET`s connections in the ME, would we rule out a JV with an iraqi oil co., thus giving them a risk sharing project, much the same as we hope in sudan with the national oil co.. just an idea.


Heritage Oil signs strategic joint venture agreement in Iraq /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/


CALGARY, Dec 13, 2004 (Canada NewsWire via COMTEX) -- Heritage Oil Corporation
(TSX: HOC) announced today that it has formed a strategic alliance by way of a
joint venture with Eagle Group of Iraq, a major economic and industrial entity
within the Autonomous Region of Iraqi Kurdistan.

Heritage and Eagle Group have incorporated a jointly owned company, Heritage
Erbil Oil Limited ("Heritage Erbil") with an authorized share capital of US$25
million dollars (Cdn$30 million). Heritage Erbil in turn has incorporated K
Petroleum Company ("KPC"), a wholly owned subsidiary of Heritage Erbil, in Iraq
and registered KPC in both Baghdad and Erbil (in the Autonomous Region of
Kurdistan). Heritage and Eagle Group shall each hold a 42.5% share interest in
KPC, while Turkish investors will hold the remaining 15%.

Micael Gulbenkian, Chairman and CEO of Heritage Oil Corporation, said that
"because of my family's centuries-old links to Iraq and the region, I have been
able to visit Iraq regularly during the last two years. My great grandfather and
great uncle were closely associated with the development of the Middle East oil
industry. In fact, the Gulbenkian family was fundamentally involved with the
establishment of Iraq Petroleum Company in the 1920s and the drilling of the
first well in Kirkuk in 1927. My father for decades since the 1950s was
associated with the development of the Iraqi Oil industry and, by investing in
numerous social and development programs played a very important role in the
fields of education, health, arts and science for the benefit of the Iraqi
people. I have been touched with the warm reception I have enjoyed within Iraq
in general and the Autonomous Region of Kurdistan in particular. As a result of
my family's historical connections in the area, this joint venture could have
the ability to transform Heritage Oil Corp. in the short to medium term."

His Excellency Mr. Nechirvan Barzani, the Prime Minister of the Regional
Government of Kurdistan, stated: "We are delighted that Eagle Group has entered
into this joint venture with Heritage. We believe both parties are genuinely
committed to the development of oil and gas in the Region within a framework of
a close working relation with our Regional Government and the Ministry of Oil in
Baghdad, utilizing available local resources. The Company should be in a
position to commence its activities immediately in view of the stability
prevailing in the Region, which is far more stable than other parts of Iraq. KPC
in view of its regional local strategy is ideally placed to obtain licences,
with the support of the central government and ourselves, to operate fields in
the North."

Heritage is responsible for the overall operation and management of Heritage
Erbil and KPC. We are actively recruiting local technical staff to commence a
detailed investigation of the development potential of the Kurdistan Region.

KPC will be working in close collaboration with the Ministry of Oil of Iraq. The
company has been incorporated with the knowledge and support of the Ministry.
Discussions have already commenced about awarding a license to KPC containing
proven reserves with the possibility of early production.

It is anticipated that during this interim period when there is an absence of
hydrocarbon legislation in country the licence might initially be a service
agreement, with a view to converting this into a production sharing contract.
KPC, however, has a two-phase strategy:



(1) To target projects with significant proven reserves with a plan

to produce over 50,000 barrels per day while assessing further

known potential reserves in the Region; and


(2) To carry out initial technical and exploration work over parts of

Northern Iraq which have yet to be explored.

The oil potential of Iraq is huge, with estimated proven reserves of more than
112 billion barrels of oil and 100 trillion cubic feet of natural gas. It is
reported that fields in Northern Iraq contain estimated reserves of 36 billion
barrels, and less than 10% of the Region has been explored.

His Excellency Mr. Nechirvan Barzani and Micael Gulbenkian both stated during a
meeting in October this year: "We view KPC as an important element in the oil
and gas exploration and development in the Northern Regions of Iraq."

Heritage is an international oil and gas corporation, with principal properties
situated in the Republic of Congo, Oman, and Uganda. Heritage's registered
office is located in Calgary, Alberta.

The Company's Common Shares trade on the Toronto Stock Exchange under the symbol
HOC.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding production estimates and future plans and objectives of Heritage - are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those anticipated in such
statements.

%SEDAR: 00010129E

VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION:
http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=45779





Heritage Oil signs strategic joint venture agreement in Iraq /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/


CALGARY, Dec 13, 2004 (Canada NewsWire via COMTEX) -- Heritage Oil Corporation
(TSX: HOC) announced today that it has formed a strategic alliance by way of a
joint venture with Eagle Group of Iraq, a major economic and industrial entity
within the Autonomous Region of Iraqi Kurdistan.

Heritage and Eagle Group have incorporated a jointly owned company, Heritage
Erbil Oil Limited ("Heritage Erbil") with an authorized share capital of US$25
million dollars (Cdn$30 million). Heritage Erbil in turn has incorporated K
Petroleum Company ("KPC"), a wholly owned subsidiary of Heritage Erbil, in Iraq
and registered KPC in both Baghdad and Erbil (in the Autonomous Region of
Kurdistan). Heritage and Eagle Group shall each hold a 42.5% share interest in
KPC, while Turkish investors will hold the remaining 15%.

Micael Gulbenkian, Chairman and CEO of Heritage Oil Corporation, said that
"because of my family's centuries-old links to Iraq and the region, I have been
able to visit Iraq regularly during the last two years. My great grandfather and
great uncle were closely associated with the development of the Middle East oil
industry. In fact, the Gulbenkian family was fundamentally involved with the
establishment of Iraq Petroleum Company in the 1920s and the drilling of the
first well in Kirkuk in 1927. My father for decades since the 1950s was
associated with the development of the Iraqi Oil industry and, by investing in
numerous social and development programs played a very important role in the
fields of education, health, arts and science for the benefit of the Iraqi
people. I have been touched with the warm reception I have enjoyed within Iraq
in general and the Autonomous Region of Kurdistan in particular. As a result of
my family's historical connections in the area, this joint venture could have
the ability to transform Heritage Oil Corp. in the short to medium term."

His Excellency Mr. Nechirvan Barzani, the Prime Minister of the Regional
Government of Kurdistan, stated: "We are delighted that Eagle Group has entered
into this joint venture with Heritage. We believe both parties are genuinely
committed to the development of oil and gas in the Region within a framework of
a close working relation with our Regional Government and the Ministry of Oil in
Baghdad, utilizing available local resources. The Company should be in a
position to commence its activities immediately in view of the stability
prevailing in the Region, which is far more stable than other parts of Iraq. KPC
in view of its regional local strategy is ideally placed to obtain licences,
with the support of the central government and ourselves, to operate fields in
the North."

Heritage is responsible for the overall operation and management of Heritage
Erbil and KPC. We are actively recruiting local technical staff to commence a
detailed investigation of the development potential of the Kurdistan Region.

KPC will be working in close collaboration with the Ministry of Oil of Iraq. The
company has been incorporated with the knowledge and support of the Ministry.
Discussions have already commenced about awarding a license to KPC containing
proven reserves with the possibility of early production.

It is anticipated that during this interim period when there is an absence of
hydrocarbon legislation in country the licence might initially be a service
agreement, with a view to converting this into a production sharing contract.
KPC, however, has a two-phase strategy:



(1) To target projects with significant proven reserves with a plan

to produce over 50,000 barrels per day while assessing further

known potential reserves in the Region; and


(2) To carry out initial technical and exploration work over parts of

Northern Iraq which have yet to be explored.

The oil potential of Iraq is huge, with estimated proven reserves of more than
112 billion barrels of oil and 100 trillion cubic feet of natural gas. It is
reported that fields in Northern Iraq contain estimated reserves of 36 billion
barrels, and less than 10% of the Region has been explored.

His Excellency Mr. Nechirvan Barzani and Micael Gulbenkian both stated during a
meeting in October this year: "We view KPC as an important element in the oil
and gas exploration and development in the Northern Regions of Iraq."

Heritage is an international oil and gas corporation, with principal properties
situated in the Republic of Congo, Oman, and Uganda. Heritage's registered
office is located in Calgary, Alberta.

The Company's Common Shares trade on the Toronto Stock Exchange under the symbol
HOC.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding production estimates and future plans and objectives of Heritage - are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those anticipated in such
statements.

%SEDAR: 00010129E

VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION:
http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=45779





Heritage Oil signs strategic joint venture agreement in Iraq /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/


CALGARY, Dec 13, 2004 (Canada NewsWire via COMTEX) -- Heritage Oil Corporation
(TSX: HOC) announced today that it has formed a strategic alliance by way of a
joint venture with Eagle Group of Iraq, a major economic and industrial entity
within the Autonomous Region of Iraqi Kurdistan.

Heritage and Eagle Group have incorporated a jointly owned company, Heritage
Erbil Oil Limited ("Heritage Erbil") with an authorized share capital of US$25
million dollars (Cdn$30 million). Heritage Erbil in turn has incorporated K
Petroleum Company ("KPC"), a wholly owned subsidiary of Heritage Erbil, in Iraq
and registered KPC in both Baghdad and Erbil (in the Autonomous Region of
Kurdistan). Heritage and Eagle Group shall each hold a 42.5% share interest in
KPC, while Turkish investors will hold the remaining 15%.

Micael Gulbenkian, Chairman and CEO of Heritage Oil Corporation, said that
"because of my family's centuries-old links to Iraq and the region, I have been
able to visit Iraq regularly during the last two years. My great grandfather and
great uncle were closely associated with the development of the Middle East oil
industry. In fact, the Gulbenkian family was fundamentally involved with the
establishment of Iraq Petroleum Company in the 1920s and the drilling of the
first well in Kirkuk in 1927. My father for decades since the 1950s was
associated with the development of the Iraqi Oil industry and, by investing in
numerous social and development programs played a very important role in the
fields of education, health, arts and science for the benefit of the Iraqi
people. I have been touched with the warm reception I have enjoyed within Iraq
in general and the Autonomous Region of Kurdistan in particular. As a result of
my family's historical connections in the area, this joint venture could have
the ability to transform Heritage Oil Corp. in the short to medium term."

His Excellency Mr. Nechirvan Barzani, the Prime Minister of the Regional
Government of Kurdistan, stated: "We are delighted that Eagle Group has entered
into this joint venture with Heritage. We believe both parties are genuinely
committed to the development of oil and gas in the Region within a framework of
a close working relation with our Regional Government and the Ministry of Oil in
Baghdad, utilizing available local resources. The Company should be in a
position to commence its activities immediately in view of the stability
prevailing in the Region, which is far more stable than other parts of Iraq. KPC
in view of its regional local strategy is ideally placed to obtain licences,
with the support of the central government and ourselves, to operate fields in
the North."

Heritage is responsible for the overall operation and management of Heritage
Erbil and KPC. We are actively recruiting local technical staff to commence a
detailed investigation of the development potential of the Kurdistan Region.

KPC will be working in close collaboration with the Ministry of Oil of Iraq. The
company has been incorporated with the knowledge and support of the Ministry.
Discussions have already commenced about awarding a license to KPC containing
proven reserves with the possibility of early production.

It is anticipated that during this interim period when there is an absence of
hydrocarbon legislation in country the licence might initially be a service
agreement, with a view to converting this into a production sharing contract.
KPC, however, has a two-phase strategy:



(1) To target projects with significant proven reserves with a plan

to produce over 50,000 barrels per day while assessing further

known potential reserves in the Region; and


(2) To carry out initial technical and exploration work over parts of

Northern Iraq which have yet to be explored.

The oil potential of Iraq is huge, with estimated proven reserves of more than
112 billion barrels of oil and 100 trillion cubic feet of natural gas. It is
reported that fields in Northern Iraq contain estimated reserves of 36 billion
barrels, and less than 10% of the Region has been explored.

His Excellency Mr. Nechirvan Barzani and Micael Gulbenkian both stated during a
meeting in October this year: "We view KPC as an important element in the oil
and gas exploration and development in the Northern Regions of Iraq."

Heritage is an international oil and gas corporation, with principal properties
situated in the Republic of Congo, Oman, and Uganda. Heritage's registered
office is located in Calgary, Alberta.

The Company's Common Shares trade on the Toronto Stock Exchange under the symbol
HOC.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding production estimates and future plans and objectives of Heritage - are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those anticipated in such
statements.

%SEDAR: 00010129E

VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION:
http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=45779





Heritage Oil signs strategic joint venture agreement in Iraq /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/


CALGARY, Dec 13, 2004 (Canada NewsWire via COMTEX) -- Heritage Oil Corporation
(TSX: HOC) announced today that it has formed a strategic alliance by way of a
joint venture with Eagle Group of Iraq, a major economic and industrial entity
within the Autonomous Region of Iraqi Kurdistan.

Heritage and Eagle Group have incorporated a jointly owned company, Heritage
Erbil Oil Limited ("Heritage Erbil") with an authorized share capital of US$25
million dollars (Cdn$30 million). Heritage Erbil in turn has incorporated K
Petroleum Company ("KPC"), a wholly owned subsidiary of Heritage Erbil, in Iraq
and registered KPC in both Baghdad and Erbil (in the Autonomous Region of
Kurdistan). Heritage and Eagle Group shall each hold a 42.5% share interest in
KPC, while Turkish investors will hold the remaining 15%.

Micael Gulbenkian, Chairman and CEO of Heritage Oil Corporation, said that
"because of my family's centuries-old links to Iraq and the region, I have been
able to visit Iraq regularly during the last two years. My great grandfather and
great uncle were closely associated with the development of the Middle East oil
industry. In fact, the Gulbenkian family was fundamentally involved with the
establishment of Iraq Petroleum Company in the 1920s and the drilling of the
first well in Kirkuk in 1927. My father for decades since the 1950s was
associated with the development of the Iraqi Oil industry and, by investing in
numerous social and development programs played a very important role in the
fields of education, health, arts and science for the benefit of the Iraqi
people. I have been touched with the warm reception I have enjoyed within Iraq
in general and the Autonomous Region of Kurdistan in particular. As a result of
my family's historical connections in the area, this joint venture could have
the ability to transform Heritage Oil Corp. in the short to medium term."

His Excellency Mr. Nechirvan Barzani, the Prime Minister of the Regional
Government of Kurdistan, stated: "We are delighted that Eagle Group has entered
into this joint venture with Heritage. We believe both parties are genuinely
committed to the development of oil and gas in the Region within a framework of
a close working relation with our Regional Government and the Ministry of Oil in
Baghdad, utilizing available local resources. The Company should be in a
position to commence its activities immediately in view of the stability
prevailing in the Region, which is far more stable than other parts of Iraq. KPC
in view of its regional local strategy is ideally placed to obtain licences,
with the support of the central government and ourselves, to operate fields in
the North."

Heritage is responsible for the overall operation and management of Heritage
Erbil and KPC. We are actively recruiting local technical staff to commence a
detailed investigation of the development potential of the Kurdistan Region.

KPC will be working in close collaboration with the Ministry of Oil of Iraq. The
company has been incorporated with the knowledge and support of the Ministry.
Discussions have already commenced about awarding a license to KPC containing
proven reserves with the possibility of early production.

It is anticipated that during this interim period when there is an absence of
hydrocarbon legislation in country the licence might initially be a service
agreement, with a view to converting this into a production sharing contract.
KPC, however, has a two-phase strategy:



(1) To target projects with significant proven reserves with a plan

to produce over 50,000 barrels per day while assessing further

known potential reserves in the Region; and


(2) To carry out initial technical and exploration work over parts of

Northern Iraq which have yet to be explored.

The oil potential of Iraq is huge, with estimated proven reserves of more than
112 billion barrels of oil and 100 trillion cubic feet of natural gas. It is
reported that fields in Northern Iraq contain estimated reserves of 36 billion
barrels, and less than 10% of the Region has been explored.

His Excellency Mr. Nechirvan Barzani and Micael Gulbenkian both stated during a
meeting in October this year: "We view KPC as an important element in the oil
and gas exploration and development in the Northern Regions of Iraq."

Heritage is an international oil and gas corporation, with principal properties
situated in the Republic of Congo, Oman, and Uganda. Heritage's registered
office is located in Calgary, Alberta.

The Company's Common Shares trade on the Toronto Stock Exchange under the symbol
HOC.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding production estimates and future plans and objectives of Heritage - are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those anticipated in such
statements.

%SEDAR: 00010129E

VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION:
http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=45779





Heritage Oil signs strategic joint venture agreement in Iraq /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/


CALGARY, Dec 13, 2004 (Canada NewsWire via COMTEX) -- Heritage Oil Corporation
(TSX: HOC) announced today that it has formed a strategic alliance by way of a
joint venture with Eagle Group of Iraq, a major economic and industrial entity
within the Autonomous Region of Iraqi Kurdistan.

Heritage and Eagle Group have incorporated a jointly owned company, Heritage
Erbil Oil Limited ("Heritage Erbil") with an authorized share capital of US$25
million dollars (Cdn$30 million). Heritage Erbil in turn has incorporated K
Petroleum Company ("KPC"), a wholly owned subsidiary of Heritage Erbil, in Iraq
and registered KPC in both Baghdad and Erbil (in the Autonomous Region of
Kurdistan). Heritage and Eagle Group shall each hold a 42.5% share interest in
KPC, while Turkish investors will hold the remaining 15%.

Micael Gulbenkian, Chairman and CEO of Heritage Oil Corporation, said that
"because of my family's centuries-old links to Iraq and the region, I have been
able to visit Iraq regularly during the last two years. My great grandfather and
great uncle were closely associated with the development of the Middle East oil
industry. In fact, the Gulbenkian family was fundamentally involved with the
establishment of Iraq Petroleum Company in the 1920s and the drilling of the
first well in Kirkuk in 1927. My father for decades since the 1950s was
associated with the development of the Iraqi Oil industry and, by investing in
numerous social and development programs played a very important role in the
fields of education, health, arts and science for the benefit of the Iraqi
people. I have been touched with the warm reception I have enjoyed within Iraq
in general and the Autonomous Region of Kurdistan in particular. As a result of
my family's historical connections in the area, this joint venture could have
the ability to transform Heritage Oil Corp. in the short to medium term."

His Excellency Mr. Nechirvan Barzani, the Prime Minister of the Regional
Government of Kurdistan, stated: "We are delighted that Eagle Group has entered
into this joint venture with Heritage. We believe both parties are genuinely
committed to the development of oil and gas in the Region within a framework of
a close working relation with our Regional Government and the Ministry of Oil in
Baghdad, utilizing available local resources. The Company should be in a
position to commence its activities immediately in view of the stability
prevailing in the Region, which is far more stable than other parts of Iraq. KPC
in view of its regional local strategy is ideally placed to obtain licences,
with the support of the central government and ourselves, to operate fields in
the North."

Heritage is responsible for the overall operation and management of Heritage
Erbil and KPC. We are actively recruiting local technical staff to commence a
detailed investigation of the development potential of the Kurdistan Region.

KPC will be working in close collaboration with the Ministry of Oil of Iraq. The
company has been incorporated with the knowledge and support of the Ministry.
Discussions have already commenced about awarding a license to KPC containing
proven reserves with the possibility of early production.

It is anticipated that during this interim period when there is an absence of
hydrocarbon legislation in country the licence might initially be a service
agreement, with a view to converting this into a production sharing contract.
KPC, however, has a two-phase strategy:



(1) To target projects with significant proven reserves with a plan

to produce over 50,000 barrels per day while assessing further

known potential reserves in the Region; and


(2) To carry out initial technical and exploration work over parts of

Northern Iraq which have yet to be explored.

The oil potential of Iraq is huge, with estimated proven reserves of more than
112 billion barrels of oil and 100 trillion cubic feet of natural gas. It is
reported that fields in Northern Iraq contain estimated reserves of 36 billion
barrels, and less than 10% of the Region has been explored.

His Excellency Mr. Nechirvan Barzani and Micael Gulbenkian both stated during a
meeting in October this year: "We view KPC as an important element in the oil
and gas exploration and development in the Northern Regions of Iraq."

Heritage is an international oil and gas corporation, with principal properties
situated in the Republic of Congo, Oman, and Uganda. Heritage's registered
office is located in Calgary, Alberta.

The Company's Common Shares trade on the Toronto Stock Exchange under the symbol
HOC.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding production estimates and future plans and objectives of Heritage - are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those anticipated in such
statements.

%SEDAR: 00010129E

VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION:
http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=45779





Heritage Oil signs strategic joint venture agreement in Iraq /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/


CALGARY, Dec 13, 2004 (Canada NewsWire via COMTEX) -- Heritage Oil Corporation
(TSX: HOC) announced today that it has formed a strategic alliance by way of a
joint venture with Eagle Group of Iraq, a major economic and industrial entity
within the Autonomous Region of Iraqi Kurdistan.

Heritage and Eagle Group have incorporated a jointly owned company, Heritage
Erbil Oil Limited ("Heritage Erbil") with an authorized share capital of US$25
million dollars (Cdn$30 million). Heritage Erbil in turn has incorporated K
Petroleum Company ("KPC"), a wholly owned subsidiary of Heritage Erbil, in Iraq
and registered KPC in both Baghdad and Erbil (in the Autonomous Region of
Kurdistan). Heritage and Eagle Group shall each hold a 42.5% share interest in
KPC, while Turkish investors will hold the remaining 15%.

Micael Gulbenkian, Chairman and CEO of Heritage Oil Corporation, said that
"because of my family's centuries-old links to Iraq and the region, I have been
able to visit Iraq regularly during the last two years. My great grandfather and
great uncle were closely associated with the development of the Middle East oil
industry. In fact, the Gulbenkian family was fundamentally involved with the
establishment of Iraq Petroleum Company in the 1920s and the drilling of the
first well in Kirkuk in 1927. My father for decades since the 1950s was
associated with the development of the Iraqi Oil industry and, by investing in
numerous social and development programs played a very important role in the
fields of education, health, arts and science for the benefit of the Iraqi
people. I have been touched with the warm reception I have enjoyed within Iraq
in general and the Autonomous Region of Kurdistan in particular. As a result of
my family's historical connections in the area, this joint venture could have
the ability to transform Heritage Oil Corp. in the short to medium term."

His Excellency Mr. Nechirvan Barzani, the Prime Minister of the Regional
Government of Kurdistan, stated: "We are delighted that Eagle Group has entered
into this joint venture with Heritage. We believe both parties are genuinely
committed to the development of oil and gas in the Region within a framework of
a close working relation with our Regional Government and the Ministry of Oil in
Baghdad, utilizing available local resources. The Company should be in a
position to commence its activities immediately in view of the stability
prevailing in the Region, which is far more stable than other parts of Iraq. KPC
in view of its regional local strategy is ideally placed to obtain licences,
with the support of the central government and ourselves, to operate fields in
the North."

Heritage is responsible for the overall operation and management of Heritage
Erbil and KPC. We are actively recruiting local technical staff to commence a
detailed investigation of the development potential of the Kurdistan Region.

KPC will be working in close collaboration with the Ministry of Oil of Iraq. The
company has been incorporated with the knowledge and support of the Ministry.
Discussions have already commenced about awarding a license to KPC containing
proven reserves with the possibility of early production.

It is anticipated that during this interim period when there is an absence of
hydrocarbon legislation in country the licence might initially be a service
agreement, with a view to converting this into a production sharing contract.
KPC, however, has a two-phase strategy:



(1) To target projects with significant proven reserves with a plan

to produce over 50,000 barrels per day while assessing further

known potential reserves in the Region; and


(2) To carry out initial technical and exploration work over parts of

Northern Iraq which have yet to be explored.

The oil potential of Iraq is huge, with estimated proven reserves of more than
112 billion barrels of oil and 100 trillion cubic feet of natural gas. It is
reported that fields in Northern Iraq contain estimated reserves of 36 billion
barrels, and less than 10% of the Region has been explored.

His Excellency Mr. Nechirvan Barzani and Micael Gulbenkian both stated during a
meeting in October this year: "We view KPC as an important element in the oil
and gas exploration and development in the Northern Regions of Iraq."

Heritage is an international oil and gas corporation, with principal properties
situated in the Republic of Congo, Oman, and Uganda. Heritage's registered
office is located in Calgary, Alberta.

The Company's Common Shares trade on the Toronto Stock Exchange under the symbol
HOC.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding production estimates and future plans and objectives of Heritage - are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those anticipated in such
statements.

%SEDAR: 00010129E

VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION:
http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=45779

OK here is one, only 3 more RNS announcements to go(tenders, Block 6 & Sudan), and we are Rich!!

Petrel Resources PLC
14 December 2004


Petrel is pleased to announce the award of a Memorandum of Understanding by the
Jordanian authorities (convertible, subject to discussion, to an exploration
licence after 6 months) covering the East Safawi block in the Arabian desert
near the Iraqi frontier.


The work programme involves integrating geological data from Jordan and adjacent
regions, aimed at elucidating basin history. Samples available from relevant
wells will be processed for maturation and apatite fission-track analysis to
reveal the burial history of the basin. There will be detailed interpretation
of Landsat satellite imagery to provide information on the controlling
structural trends. Seismic data will be re-processed and existing seismic data
re-interpreted, using the re-processed grid of lines for control. Time and
depth maps will be prepared for the important reflector horizons.


We expect to sign the Memorandum of Understanding this month and start work in
January 2005. The East Safawi block lies on an extension to the petroleum
targets being studied by the company in Iraq, and is both prospective in its own
right and also helpful to our understanding of the Arabian Desert generally.


For further information:
Bell Pottinger Corporate & Financial
Nick Lambert +44 (0) 7811 358 764





This information is provided by RNS
The company news service from the London Stock Exchange

rns out re. jordanian work!!, for some reason i can`t paste it

morning Dexter, beat you to it this morning, see post above.

also from fillyaboots, check out this website, brought this up before, but look at the cut off date.

check out this site

http://www.oilcareer.com/

ADVANCE NOTICE: December 16, 2004 is our application deadline for 26 MAJOR oil projects now hiring.

the application deadline is interesting, as Petrel are among many companies that use this service, maybe nothing, but worth a look.

tokyo

morning tokyo,
you have got an 8 hour or so head start though!!.
dexter

Morning GUYS! Is this the start of it, i think so!!!!!!!! With this surely it ties in Block 6 as so many have speculated and further Rns releases to come! Merry Christmas one and all.

Morning guys. Starting to get REALLY hacked off with all this waiting. Everything crossed for some news soon.

Beasties, have you seen the RNS out today on Jordan? This is the start of contract news to come. Dont forget that the Iraqi's timescale was by the end of the year, thats only a few weeks away!!!!!!!!!

Yeah gra I have. But it's the BIG news I'm sick of waiting for.
Grrrrr!!!

Oh! me too, but that wont be long coming now, this is the start of a busy two weeks!