Prospectus re Admission to the Official List - Heritage Oil

RPS EnergyHeritage Oil – Competent Persons ReportList of TablesTable 1: Summary of Heritage Reserves as of 30 th September 2007 .................... 64Table 2: Summary of Reserves for Each Property as of 30 th September 2007 .............. 64Table 3: Summary of Contingent Resources Reviewed by RPS ........................ 65Table 4: Summary of Prospective Resources Reviewed by RPS (MMstb) ................ 65Table 5: Consolidation of Gross Risked Recoverable Resources in Blocks 1 and 3A Reviewedby RPS ....................................................... 66Table 6: Heritage Unrisked Conceptual Leads (Not Reviewed by RPS) ................. 66Table 7: RPS Price Base Case Forecasts (US$/bbl Money of the Day) .................. 66Table 8: Post-Tax Valuation (Net Heritage Share) of Heritage’s Reserves as of30 th September 2007 .............................................. 67Table 9: Success Case NPV 10 US$/per Recoverable Barrel (p50 case) ................... 67Table 10: Summary of Heritage’s Properties ...................................... 74Table 11: Range of GIIP for the Bukha Field (Full Field Interest)—from Novus VolumetricsStudy February 2003 .............................................. 80Table 12: West Bukha Volumetric Input Parameters ................................ 87Table 13: West Bukha In place Volumes 100 per cent. Basis .......................... 87Table 14: Summary of West Bukha & Henjam Well Tests ............................ 88Table 15: Initial Composition of West Bukha Wellstream ............................ 89Table 16: Estimated Product Yields from West Bukha Wellstream ...................... 91Table 17: Lower J 1 Sand Input Parameters ....................................... 97Table 18: Zapadno Chumpasskoye, Lower J 1 Sand STOIIP Estimates (MMstb) ............ 97Table 19: The p90 and p50 Drilling Schedule for Zapadno Chumpasskoye ................ 102Table 20: Summary of Results for Zapadno Chumpasskoye ........................... 104Table 21: Uganda Volumetric Input Parameters ................................... 111Table 22: Kingfisher Discovery—STOIIP and Contingent Resource Estimate (100 per cent.Basis) ......................................................... 111Table 23: Block 1 & 3A—STOIIP and Prospective Resource Estimates (On-block, 100 per cent.Basis) ......................................................... 112Table 24: Consolidation of Gross Risked Recoverable Resources in Blocks 1 and 3A Reviewedby RPS ....................................................... 113Table 25: Heritage Conceptual Leads Mean Un-Risked STOIP (100 per cent. Basis) NotReviewed by RPS) ............................................... 114Table 26: Summary of Kingfisher-1A Well Tests ................................... 114Table 27: Summary of Kingfisher-1 Fluid Properties ................................ 114Table 28: Assumptions Used For Profiles ........................................ 114Table 29: Miran Field—Range of Notional STOIIP ................................ 116Table 30: Assumptions Used in Miran Profiles .................................... 117Table 31: RPS Forecast Price Cases ............................................ 119Table 32: Table of Base Case Forecast Prices ..................................... 120Table 33: Bukha Post-Tax Valuation (Net Heritage Share) ............................ 121Table 34: Bukha Reserves Summary ............................................ 121Table 35: West Bukha Post-Tax Valuation (Net Heritage Share) ........................ 122Table 36: West Bukha Reserves Summary ........................................ 122Table 37: Sensitivity of Bukha NPV 10 to Oil Price .................................. 122Page72