/THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND 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. THIS ANNOUNCEMENT IS NOT AN OFFER OF
SECURITIES IN THE UNITED STATES, SOUTH AFRICA, AUSTRALIA, JAPAN OR ANY
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL/
TORONTO, March 31 /CNW/ - Heritage Oil Limited, the independent upstream
exploration and production company, announces that its ordinary shares have
been admitted to the Official List of the Financial Services Authority and to
trading on the main market of the London Stock Exchange plc. Unconditional
dealings commenced at 8am today.
The exchangeable shares of Heritage Oil Corporation ("HOC") will be
admitted to the Official List of the Financial Services Authority and to
trading on the main market of the London Stock Exchange plc on 2 April 2008
Notes to Editors
- Heritage is an independent upstream exploration and production
company engaged in the exploration for, and the development,
production and acquisition of, oil and gas in its core areas of
Africa, the Middle East and Russia.
- Heritage has producing properties in Oman and Russia and exploration
projects in Uganda, the Kurdistan Region of Iraq (the 'KRI'), the
Democratic Republic of Congo (the 'DRC'), Malta, Pakistan and Mali.
- As at 30 September 2007, the Group had proved plus probable net
entitlement reserves of 62.1 million barrels of oil equivalent
('MMboe'), valued at US$260 million at a discount rate of 10%, as
certified by RPS Energy.
- As at 30 September 2007, the Group had proved plus probable plus
possible net entitlement reserves of 163.9 MMboe, valued at
US$824 million at a discount rate of 10%, as certified by RPS Energy.
- The Group has a strong financial position following receipt of gross
proceeds from a private placement of US$165 million of 8% convertible
bonds in February 2007 and a primary common share fundraising of
Cdn$181.5 million completed in November 2007.
This announcement has been prepared and issued by Heritage and is the
sole responsibility of Heritage. JPMorgan Cazenove, which is authorised and
regulated in the United Kingdom by the Financial Services Authority is acting
exclusively for Heritage and HOC and for no-one else in connection with
Admission and will not be responsible to anyone other than Heritage and HOC
for providing the protections afforded to its customers or for providing
advice in relation to Admission or any arrangement referred to herein.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
This announcement does not contain or constitute or form part of an offer
of securities for sale in any jurisdiction, including the United States. The
securities referred to herein have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may
not be offered or sold in the United States (as such term is defined in
Regulation S under the Securities Act) unless they are registered under the
Securities Act or pursuant to an available exemption therefrom. No public
offering of the ordinary shares in Heritage and the exchangeable shares in HOC
is being made in the United States.
The distribution of this announcement and other information in connection
with Admission may be restricted by law in certain jurisdictions and persons
into whose possession any document or other information referred to herein
comes should inform themselves about and observe any such restriction. Any
failure to comply with these restrictions may constitute a violation of the
securities laws of any such jurisdiction.
This announcement is an advertisement and not a prospectus and investors
should not subscribe for or purchase any securities referred to in this
announcement except solely on the basis of information in the prospectus.
This announcement (or any part of it) and the information contained
herein is not to be reproduced, published, distributed, passed on, or the
contents otherwise divulged, directly or indirectly, in or into the United
States, Australia, Japan or the Republic of South Africa, or any other
jurisdiction where such reproduction or distribution would be unlawful, and
does not constitute, or form part of, an offer of securities for sale into the
United States, Australia, Japan or the Republic of South Africa, or any other
jurisdiction. This announcement is for information purposes only and does not
constitute or form part of an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of the securities referred to herein in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration, exemption from registration or qualification under the
securities law of any such jurisdiction.
Information in this announcement or any of the documents relating to
admission cannot be relied upon as a guide to future performance.
This announcement is not for distribution to United States Newswire
Services or for dissemination in the United States, South Africa, Australia
For further information:
For further information: Heritage Oil Limited: Tony Buckingham, Paul
Atherton, Tel: +41 91 973 1800, +44 (0) 870 011 5555, (403) 234-9974, Email:
email@example.com; Investor Relations, PR - Europe: Bell Pottinger
Corporate & Financial, Ann-marie Wilkinson, Nick Lambert, Andrew Benbow, Tel:
+44 (0) 20 7861 3232; Investor Relations - Canada: CHF Investor Relations,
Cathy Hume, Lindsay Carpenter, (416) 868-1079 ext. 231, 239; Sponsor -
JPMorgan Cazenove: Ian Hannam, Neil Haycock, James Taylor, Tel: +44 (0) 20