Prospectus re Admission to the Official List - Heritage Oil

No assets have been pledged as security.The balances at the end of the periods are as follows:31 December 30 September2005 2006 2006 2007$ $ $ $(Unaudited)Russia .............................. 4,612,321 6,437,022 5,979,541 14,066,855Oman .............................. 3,875,880 7,048,524 5,897,554 552,257Uganda ............................. 27,163,615 41,246,318 33,708,152 69,563,207DRC............................... — 35,468 16,893 689,696Congo .............................. 7,851,888 — — —Pakistan ............................ — — — 874,855Balance — End of period ................ 43,503,704 54,767,332 45,602,140 85,746,87011 Intangible development costs31 December 30 September2005 2006 2006 2007$ $ $ $(Unaudited)Cost ................................. 1,187,371 1,574,039 1,346,858 —Accumulated amortisation .................. — — — —Net book amount ........................ 1,187,371 1,574,039 1,346,858 —Net book amount—Beginning of period ........ 1,013,012 1,187,371 1,187,371 1,574,039Additions—Internal development ............. 174,359 386,668 159,487 68,829Disposals—Sale of subsidiaries (note 9) ........ — — — (1,642,868)Net book amount—End of period ............ 1,187,371 1,574,039 1,346,858 —Intangible development costs, such as personnel and production expenses, are related to thedevelopment of the Buoyant Drum Lay System (‘‘Pipelay System’’). As the Pipelay Systemdevelopment was not complete, amortisation had not yet commenced before the disposal of thesubsidiaries.199