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One-Page Deal Sheet

Heritage Repays Loan to Genel Through Kurdish Asset Trade

Genel Energy Heritage Oil Plc
AnnouncedNov 9, 2012
TypeProperty
Announced Date
November 09,2012
Close Date
January 23,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
294




Snapshot
Asset/Basin:
{"Kurdistan Region (Miran Block)"}
Location
Region
Middle East

Country
Iraq


Transaction Details:  Subscribe to see

Genel Energy announces that on the 9 November 2012, Heritage Oil Plc ("Heritage") issued the Exchange Repayment Notice notifiying the Company of its intention to repay the $294 million loan made by Genel Energy to Heritage in August 2012 through the transfer of Heritage's remaining 49 per cent interest in the Miran exploration block in the Kurdistan Region of Iraq (the "Exchange Repayment"). The interest in the Miran Block is currently held by Heritage Energy Middle East Limited ("HEME"), a wholly owned subsidiary of Heritage.

The Exchange Repayment is subject to the approval of Heritage's…

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