heritage oil raises cash for uganda

Heritage Oil , 50% owner of the S/W end of the Lake Albert oil tenement, Uganda, has raised up to US$78 million by the sale of petroleum interests in the Congo to accelerate exploration mainly in Uganda. The company's August 12 report was responsible for the rise in share price to C$6.05 last night. Hardman Resources is so impressed with its seismic work on the N/E end of Lake Albert that it is not offering farmouts to other parties. This could be a significant new oil business opening up for our HDR.