Heritage Oil plc



34 Park Street, Mayfair
London, EN, United Kingdom, W1K 2JD
Tel: +[44] 870 011 5555
Fax: +[44] 207 629 386
Web: http://www.heritageoilplc.com

Company Stock Information

 

Exchange TSX
Exchange Symbol HOC
SEDAR Filings
52-Week Performance
Recent Trading Volume
News Releases
Research
Annual Report
Presentation
Share Capital

Share Structure as of: April 18, 2012
Issued Shares (LSE): 256 million

Exchangeable Shares (TSX): 2.8 million

Investor Relations Contacts

Tanya Clarke
Investor Relations
Heritage Oil plc
+44 (0) 870 011 5555 (UK)
+44 (0)20 7518 0838 (UK)
ir@heritageoilplc.com

Jeanny So
Director of Operations
CHF Investor Relations
+1 416.868.1079 x 225
jeanny@chfir.com

Content last updated on 01.30.13

Heritage Oil Plc is an independent oil and gas exploration and production company with a Premium Listing on the London Stock Exchange (symbol HOIL). The Company is a member of the FTSE 250 Index and has Exchangeable Shares listed on the Toronto Stock Exchange (“TSX”) (symbol HOC) and the LSE (symbol HOX).

Heritage is a versatile organization, dedicated to creating and increasing shareholder value with a portfolio of quality assets managed by a highly experienced team with excellent technical, commercial and financial skills. Heritage typically focuses on regions which may have been overlooked and where it can participate as an early entrant. The Company seeks out opportunities with the potential to generate shareholder value. This includes high-impact exploration targeting the potential for significant hydrocarbon reserves.

The Company has producing assets in Nigeria and Russia and exploration assets in Malta, Tanzania, Pakistan and Libya.

Read Heritage Oil's Article in CHF Spotlight, Issue No. 86

Read Heritage Oil's Article in CHF Spotlight, Issue No. 74

 

Read Heritage Oil's Article in CHF Spotlight, Issue No. 68

Track Record of Creating Shareholder Value and Monetizing Assets
  • Sold Oman holdings in 2009 for $ 28.4 million, including working capital adjustments
  • Tullow paid cash of $1.45 billion for the Ugandan Assets in 2010
  • Sold 49% interest in the Miran Block in 2012 to Genel Energy plc. for a cash consideration of $156 million and $294 million exchangeable loan
  • Raised approximately $100 million from the sale of assets in the Republic of Congo between 2002 and 2006
  • Development expertise gained from developing and operating the Zapadno Chumpasskoye Field, Russia
First Mover Advantage
  • Pioneering company in the Albert Basin, Uganda, entering in 1997
  • One of the first companies to enter Kurdistan in 2004 and one of the first to be awarded a license
  • Early entry into areas such as the Democratic Republic of Congo, Malta, Mali and Lybia
  • Successful monetization of holdings in the Congo, Oman and Uganda and Kurdistan Region of Iraq
Focus on Technical Expertise
  • Discovered the M’Boundi field in Congo in 2001
  • Proved up sufficient resources in the Albert Basin to justify commercial development and unlock a multi-billion barrel basin
  • Discovered the Miran West Field
Strong Management Experience
  • Management background grounded in many aspects of the oil industry has enabled Heritage to create value for shareholders
  • Extensive network of well-established contacts with Governments and local businesses
Producing Assets

Nigeria:

  • Shoreline Natural Resources Limited (Shoreline), a special purpose private Nigerian company formed between subsidiary of Heritage and a local Nigerian partner, Shoreline Power Company Limited (Shoreline Power), has a 45 % participating interest in OML 30, a producing oil mining license in Nigeria, together with a 45% interest in other assets under the joint operating agreement for OML 30
  • OML 30, located onshore in the delta region, covers 1,097 square kilometres and includes 8 producing fields and associated infrastructure, including an interest in a segment of the Trans Forcados pipeline
  • OML 30 has a gross, proved and probable reserves of 1,114 mmbbls of oil, estimated by independent technical consultants RPS Energy Consultants Limited. It has current production of c.35,000 bopd
  • Net to Heritage, gross of royalty, proved and probable reserves, of c.350 mmbbls of oil, as estimated by RPS Energy. Year end production exit rate is estimated to be c.10,700 bopd net to Heritage

Russia:

  • Heritage Oil has a 95% interest in Zapadno Chumpasskoye, a development project in the West Siberian Basin of Russia
  • The field commenced production in March 2007, a total of 13 wells have been drilled on the license including four by Heritage
  • Production for the third quarter 2012 averaged 617 bopd, a 9% increase from the first half of the year
Exploration Assets

Tanzania:

  • The work programme in respect of the Rukwa PSA in Tanzania, awarded in November 2011, commenced in early 2012 with reprocessing 2,300 kilometres of legacy 2D seismic data acquired from the Tanzanian Petroleum Development Corporation. Heritage is shortly to acquire an additional 650 kilometres of 2D seismic data to infill this legacy data.
  • The work programme in respect of the Kyela PSA, awarded in January 2012, commenced with the acquisition of a full tensor gravity survey which has now been interpreted.  The acquisition of 100 kilometres of 2D seismic data has commenced and this is intended to further delineate features of interest identified in the gravity data.
  • The Company expects its assessment of the Rukwa and Kyela block’s to be assisted by certain geological similarities between these blocks and the Albert Basin of Uganda, where the Company has gained previous experience and commercial success.

Libya:

  • Heritage has a controlling 51% interest in Sahara Oil Services Holding Limited (Sahara Oil) which owns the entire share capital of Sahara Oild Services Limited (Sahara), an oil field services company in Libya
  • Sahara has been granted long-term licenses to provide full oil field services in Libya, including the ability to drill onshore and offshore and hold both oil and gas licenses
  • Heritage established a base in Benghazi in the first half of 2011
  • Heritage is now active in Tripoli and exploring ways to assist the newly appointed Interim Government (under the General National Congress elected in July 2012), the National Oil Company ( NOC) and the state oil companies
  •  Work is ongoing  through Sahara Oil Services in Benghazi, the gateway to the majority of Libya’s current producing fields, with the aim of playing a key role in the substantial amounts of rehabilitation work needed to resume, maintain and increase Libya’s hydrocarbon production in line with NOC and Oil Ministry targets

Malta:

  • Licenses cover approximately 18,000 square kilometers offshore Malta
  • Heritage signed a Production Sharing Agreement (PSA) with the Maltese Government in December 2007 for a 100% operating interest in areas 2 and 7
  • Heritage has an extensive data set of approximately 5,000 kilometres of 2D seismic
  • Preparations are underway to drill a high-impact well in area 7

Pakistan:

  • In November 2007, Heritage executed a PSA with the Government of Pakistan over the Sanjawi Block, which Heritage has a 54% interest and has been awarded operatorship
  • The Sanjawi Block cover 2,258 square kilometers and is situated in Zone II (Baluchistan)
  • In May 2008 the group also farmed-in to the Zamzama North Block in zone III. Heritage has been awarded a participating interest of 48% and operatorship of the block. This onshore exploration license cover a gross area of 1,229 square kilometres and is adjacent to, and immediately north of, the giant Zamzama gas-condensate field