Prospectus re Admission to the Official List - Heritage Oil

Summary Consolidated Balance Sheets (at 30 September 2007 and 31 December 2005 and 2006prepared in accordance with IFRS and audited and at 30 September 2006 prepared in accordance withIFRS and unaudited)31 December 30 September2005 2006 2006 2007$ $ $ $(Unaudited)AssetsNon-current assetsAssets held for sale ..................... — — 16,962,091 —Intangible exploration assets ............... 43,503,704 54,767,332 45,602,140 85,746,870Intangible development costs .............. 1,187,371 1,574,039 1,346,858 —Property, plant and equipment ............. 25,282,552 32,187,098 25,546,939 59,105,312Other financial assets .................... — 914,558 — 4,200,90969,973,627 89,443,027 89,458,028 149,053,091Current assetsAssets held for sale ..................... — — 425,412 —Inventories ........................... 251,915 98,921 211,510 79,768Prepaid expenses ....................... 219,222 531,273 515,899 340,402Trade and other receivables ............... 1,318,450 9,839,506 664,953 6,455,303Cash and cash equivalents ................ 8,583,321 46,861,146 46,851,571 61,894,71110,372,908 57,330,846 48,669,345 68,770,18480,346,535 146,773,873 138,127,373 217,823,275LiabilitiesCurrent liabilitiesTrade and other payables ................. 4,438,649 12,715,381 9,396,651 15,781,606Borrowings ........................... 248,045 147,720 140,352 160,224Liabilities of disposal group held for sale ..... — — 807,208 —4,686,694 12,863,101 10,344,211 15,941,830Non-current liabilitiesBorrowings ........................... 7,520,438 63,124,843 62,512,234 144,918,765Derivative financial liability ............... — 27,997,140 8,621,068 32,810,103Provisions ............................ 434,849 62,322 — 133,274Liabilities of disposal group held for sale ..... — — 419,770 —7,955,287 91,184,305 71,553,072 177,862,14212,641,981 104,047,406 81,897,283 193,803,97267,704,554 42,726,467 56,230,090 24,019,303Shareholders’ Equity Attributable to EquityHolders of the CorporationShare capital .......................... 22,854,418 24,580,984 23,508,025 40,910,098Reserves ............................. 973,956 2,637,058 1,363,795 35,083,262Retained earnings (deficit) ................ 43,876,180 15,508,425 31,358,270 (51,974,057)67,704,554 42,726,467 56,230,090 24,019,303133