COMPANIES Eni’s $1.35bn (£813m) deal to buy Heritage’s stake in Uganda will certainly change the fortunes of Heritage, but it will also have a knock-on effect on Tullow, the bigger oil operator in the east African country.
Heritage and Tullow are so-called wildcatters. These make their names by finding new oil patches, selling them on to bigger oil companies when their development gets costly and complex, and using the cash to find new oil patches.
