Heritage Oil commences production and receives development approval at Zapadno Chumpasskoye Field


    CALGARY, June 13 /CNW/ - Heritage Oil Corporation (TSX: HOC) today
announced that production has commenced at its 95% owned Zapadno Chumpasskoye
field in West Siberia. Well No. 226 is currently producing approximately 400
barrels of oil per day (bopd). The field pilot development project, which
includes drilling over 50 wells, has now been approved by the federal and
local authorities.

    Commencement of Production From Well No. 226

    Production commenced from the newly constructed Zapadno Chumpasskoye oil
separation and testing facility in May 2007. Following commissioning of the
facility a series of production tests of well No. 226 have been undertaken at
various choke sizes. The well free-flowed at a rate of up to 540 barrels of
oil per day (bopd) of 39 degree API oil, through an 8 mm choke. The reservoir
pressure was determined to be 4,140 psi. A total of 4,086 barrels of oil were
produced over ten days of tests, through various choke sizes. No water was
produced during the tests. Well No. 226 is currently producing at a daily rate
of approximately 400 barrels. Test results indicate production could be
increased by installing a downhole pump. Prior to making this decision,
further analysis and reservoir modelling is being carried out to evaluate
stimulation potential and assist in reservoir characterisation.
    Crude is sold at the local facility. The next stage of field facility
construction and the export pipeline tie-in are being fast-tracked in line
with expected production increases.

    Appraisal Well PNo. 3

    Appraisal well PNo. 3 is a deviated well that has been drilled to a depth
of 3,360 metres (2,700 metres true vertical depth). Intermediate logging is
being conducted prior to coring through the Jurassic reservoir section,
following which the well will be drilled to its target depth of approximately
3,490 metres (2,800 metres true vertical depth), which should be achieved
within 10 days. The well will then be logged, cased and suspended prior to
skidding the rig to the next surface location for drilling the second deviated
appraisal well. A work-over rig will be used to test well PNo. 3 in July with
a view to completing it as a future oil producer. Well PNo. 3 is the first
well to be drilled in a program comprising three appraisal wells and an
initial 16 development wells.

    Approval for the Pilot Development Plan for Zapadno Chumpasskoye

    The Russian Federal Agency on Natural Resources, Rosnedra, and the State
Committee on Field Development in the Khanty Mansisyk Autonomous District,
TSKR KMAO, have approved Heritage's plans for the pilot development of the
Zapadno Chumpasskoye field. The development plan includes significant growth
in production with the drilling of over 50 wells and the future installation
of water flood injection facilities. RPS Energy Canada Limited, trading as RPS
Energy, an independent geoscience consultancy firm, estimated the Zapadno
Chumpasskoye field contains proved and probable reserves, net to Heritage, of
69 million barrels.

    Heritage is an international oil and gas corporation with a diversified
portfolio of properties, including a producing property in the Sultanate of
Oman, a development property in Russia and exploration projects in the
Republic of Uganda and the Democratic Republic of Congo. The Company is also
pursuing opportunities in the Kurdistan region of Iraq and in other areas of
    The Company's Common Shares trade on the Toronto Stock Exchange under the
symbol HOC.

    If you would prefer to receive press releases via email contact Kelly
    Cody (kelly@chfir.com) and specify "Heritage press releases" in the
    subject line.


    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. Factors that could cause actual results to differ materially from
anticipated results include risks and uncertainties such as: risks relating to
estimates of reserves and recoveries; production and operating cost
assumptions; development risks and costs; the risk of commodity price
fluctuations; political and regulatory risks; and other risks and
uncertainties as disclosed under the heading "Risk Factors" in its AIF and
elsewhere in Heritage documents filed from time-to-time with the Toronto Stock
Exchange and other regulatory authorities. Further, any forward-looking
statement is made only as of a certain date and the Company undertakes no
obligation to update any forward-looking statement or statements to reflect
events or circumstances after the date on which such statement is made or
reflect the occurrence of unanticipated events, except as may be required by
applicable securities laws. New factors emerge from time to time, and it is
not possible for management of the Company to predict all of these factors and
to assess in advance the impact of each such factor on the Company's business
or the extent to which any factor, or combination of factors, may cause actual
results to differ materially from those contained in any forward-looking

    %SEDAR: 00010129E

For further information:

For further information: Investors Relations Contacts: CHF Investor
Relations, Cathy Hume, Tel (416) 868-1079 x231, Email cathy@chfir.com; Kelly
Cody, Tel (416) 868-1079 x223, Email kelly@chfir.com; Heritage Oil
Corporation, Contact Details, Tony Buckingham, Paul Atherton, Tel +41 91 973
1800, +44 870 011 5555, (403) 234-9974, Email info@heritageoilcorp.com

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890