Prospectus re Admission to the Official List - Heritage Oil

RPS EnergyHeritage Oil – Competent Persons ReportWater saturations calculated from petrophysics by both Heritage and RPS have anomalously high values,between 50-80 per cent., which both RPS and Heritage consider to be unrepresentative due to theintercalated shale section suppressing the resistivity curves. An S w range of 20-50 per cent. has been usedfor Kingfisher and a larger range in the prospects outside of the immediate Kingfisher area.In Block 1, a large range of sand thicknesses has been used as the area is untested. Block 1 lies at thenorthern part of Lake Albert which at present day has a sand rich fluvial system related to the Nile River.Sands are expected to be thicker in this block than in Block 3a and field work undertaken by Heritage hasbeen used to support thickness estimates. Relatively higher porosity values have been used to account forthe shallow burial depth.A summary of input values for the volumetrics is given in Table 21.N:G (%) Porosity (%) S w B oi (rb/stb)p90 p50 p10 p90 p50 p10 p90 p50 p10 p90 p50 p10DiscoveryKingfisher Main P2a ............ 69 80 90 24 25 26 50 40 20 1.11 1.13 1.15Kingfisher Main P1/M6 .......... 50 70 90 18 21 24 50 40 20 1.15 1.16 1.17ProspectsKingfisher Main Basal sand ........ 50 70 90 16 20 24 50 40 20 1.16 1.17 1.18Kingfisher North Cycle P1/M6 ...... 50 70 90 18 21 24 50 40 20 1.15 1.16 1.17Kingfisher North Basal sand ....... 50 70 90 16 20 24 50 40 20 1.16 1.17 1.18Pelican Light blue .............. 40 60 80 20 25 30 60 40 20 1.00 1.08 1.16Pelican Light green ............. 40 60 80 20 25 30 60 40 20 1.00 1.08 1.15Pelican Main Cycle P1/M6 ........ 50 70 90 18 21 24 50 40 20 1.15 1.16 1.17Pelican Main Basal sand .......... 50 70 90 16 20 24 50 40 20 1.16 1.17 1.18Pelican North Cycle P1/M6 ........ 50 70 90 18 21 24 50 40 20 1.15 1.16 1.17Pelican North Basal sand ......... 50 70 90 16 20 24 50 40 20 1.16 1.17 1.18Pelican Shallow Cycle P1/M6 ....... 50 70 90 18 21 24 50 40 20 1.15 1.16 1.17Pelican Shallow Basal sand ........ 50 70 90 16 20 24 50 40 20 1.16 1.17 1.18Pelican West Cycle P1/M6 ......... 50 70 90 18 21 24 50 40 20 1.15 1.16 1.17Pelican West Basal sand .......... 50 70 90 16 20 24 50 40 20 1.16 1.17 1.18Lead A Cycle P1/M6 ............ 40 60 80 15 20 25 50 40 20 1.15 1.16 1.17Lead A Basal sand ............. 50 70 90 12 17 22 50 40 20 1.16 1.17 1.18Lead B Cycle P1/M6 ............ 40 60 80 15 20 25 50 40 20 1.15 1.16 1.17Lead B Basal sand .............. 50 70 90 12 17 22 50 40 20 1.16 1.17 1.18Lead C Cycle P1/M6 ............ 40 60 80 15 20 25 50 40 20 1.15 1.16 1.17Lead C Basal sand .............. 50 70 90 12 17 22 50 40 20 1.16 1.17 1.18Buffalo ..................... 40 60 80 25 29 32 50 40 25 1.01 1.06 1.10Crocodile .................... 40 60 80 25 29 32 50 40 25 1.01 1.06 1.10Giraffe ...................... 40 60 80 25 29 32 50 40 25 1.01 1.06 1.10Hartebeest ................... 40 60 80 25 29 32 50 40 25 1.01 1.06 1.10Table 21: Uganda Volumetric Input ParametersThe estimated in place and recoverable Contingent Resources in Kingfisher structure are given in Table 22.Recovery factors of 20, 30 and 40 per cent. have been applied deterministically to the p90, p50 andp10 in-place volumes, respectively.Contingent ResourcesIn Place Volume (MMstb)(MMstb)Low Best High(p90) (p50) (p10) Mean 1C 2C 3CP2a.................................. 9.4 13.4 18.5 13.7 1.9 4.0 7.4P1/M6 Cycle ........................... 74.5 382.0 1223.0 541.0 14.9 114.6 489.2Total ............................ 86.2 393.0 1234.0 554.7 17.2 117.9 493.6N.B. The totals are the p90, p50 and p10 of the stochastically consolidated distributionsTable 22:Kingfisher Discovery—STOIIP and Contingent Resource Estimate (100 per cent. Basis)111