Heritage Oil Appoints JPMorgan Cazenove As Adviser



    /THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
    DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, SOUTH AFRICA,
    AUSTRALIA, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE
    UNLAWFUL./

    CALGARY, Dec. 12 /CNW/ - Heritage Oil Corporation (TSX: HOC) today
announced that it has appointed JPMorgan Cazenove Limited to advise the
Company in relation to a potential listing of its common shares on the Main
Market of the London Stock Exchange in the first quarter of 2008.
    The Directors of the Company believe that a listing on the Main Market,
if achieved, will be in the interests of the Company given the geographic
spread of its licences with a core focus on Uganda, the Kurdistan Region of
Iraq, the Democratic Republic of Congo, and West Siberia. Additionally, the
Directors believe that admission to the Main Market should raise the Company's
profile and status amongst European investors and within the oil and gas
sector generally. Furthermore, the Directors believe that admission to trading
on the Main Market may, in due course, assist in increasing the liquidity of
the Company's common shares.
    No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This
announcement is for information purposes only and does not constitute an offer
or invitation to acquire or dispose of any securities or investment advice in
any jurisdiction.

    
    Note to Editors:

    -   Heritage is an international oil and gas corporation with a
        diversified portfolio of properties, including producing properties
        in the Sultanate of Oman and Russia and exploration projects in the
        Republic of Uganda, the Democratic Republic of Congo, the Kurdistan
        region of Iraq and the Republic of Mali.

    -   For further information please refer to our website at
        www.heritageoilcorp.com.

    This press release is not for distribution to United States Newswire
      Services or for dissemination in the United States, South Africa,
                             Australia and Japan.

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

    FORWARD-LOOKING STATEMENTS:

    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
statement.

    %SEDAR: 00010129E




For further information:

For further information: Financial Adviser, JPMorgan Cazenove Limited,
Ian Hannam, Neil Haycock, James Taylor, Tel: +44 (0) 20 7588 2828; Investor
Relations, PR - Europe, Bell Pottinger Corporate & Financial, Ann-marie
Wilkinson, Nick Lambert, Tel: +44 (0) 20 7861 3232, Email:
AMWilkinson@bell-pottinger.co.uk, NLambert@bell-pottinger.co.uk; Canada, CHF
Investor Relations, Cathy Hume, (416) 868-1079 x231, cathy@chfir.com; Heritage
Oil Corporation, Tony Buckingham, Paul Atherton, Tel: +41 91 973 1800, +44 870
011 5555, (403) 234-9974, Email: info@heritageoilcorp.com

Organization Profile

HERITAGE OIL CORPORATION

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