The company was expected to issue a prospectus this week for the new share issue.
An emergency general meeting of the company is to be held in Jersey on 30 August and if that approves the proposal, then dealings in the new shares will start on 17 September.
Heritage has agreed to pay over US$850 million for an interest in highly-valued Nigerian oil fields. Chairman and chief executive Tony Buckingham said the deal would be ‘transformational’ for the company as its production will rise from 605 barrels of oil per day to an estimated more than 11,350.
Full story in Wednesday’s JEP
