Prospectus re Admission to the Official List - Heritage Oil

RPS EnergyHeritage Oil – Competent Persons Report1. DESCRIPTION OF ASSETS1.1. OverviewHeritage has a portfolio of assets that include production in Oman (Bukha) and Russia (ZapadnoChumpasskoye), undeveloped discoveries in Oman (West Bukha) and Uganda (Kingfisher) and anexploration portfolio including Uganda and Kurdistan and new exploration licences in Mali, Maltaand Pakistan.Details of the assets, provided by Heritage, are summarised in Table 10, below:Licence Area (sq km) Date Awarded Heritage Equity PartnersOMANBlock 8 ....... 423.00 April 1985 10% Rak Petroleum, LGRUSSIAZapadno 195.65 September 1999 95%ChumpasskoyeUGANDABlock 1 † ....... 3,659.00 July 2004 50% Tullow OilBlock 3A † ..... 2,024.50 September 2004 50% Tullow OilKURDISTANMiran Block †† . . . 1,015 .00 October 2007 100%D.R. CONGOBlock I ....... 3,825.00 Signed July 2006 39.5% Tullow Oil,(awaiting Presidential Decree)CohydroBlock II ....... 2,634.00 Signed July 2006 39.5% Tullow Oil,(awaiting Presidential Decree)CohydroMALIBlock 7 ....... 39,804.00 July 2006 75% Centric EnergyBlock 11 ...... 32,810.00 June 2005 75% Centric EnergyMALTAArea 2 ........ 9,190.00 December 2007 100%Area 7 ........ 8,778.00 December 2007 100%PAKISTANSanjawi Permit . . 2,412.00 November 2007 60% Sprint Energy,Trakker Energy† The government has the right to back-in for up to 15% which would reduce the Heritage net workinginterest to 42.5%.†† The government has the right to back-in for up to 25% which would reduce the Heritage net workinginterest to 75%.Table 10:Summary of Heritage’s PropertiesAs the licences in Malta, Mali and Pakistan were signed after the effective date of this report, only theproperties in Oman, Russia, Uganda and Kurdistan were reviewed by RPS for this report.74