Prospectus re Admission to the Official List - Heritage Oil

RPS EnergyHeritage Oil – Competent Persons Reportmaps, but it is expected that faults will cut the sequence and offset the relatively thin (generally less than10m) sands. Due to the stratigraphic nature of the trap, seismic interpretation is not regarded as critical tothe volumetric evaluation.Heritage’s Net Oil Pay thickness maps were reviewed and modified as appropriate including an estimate ofthe pinch out edge to the south (the exact position of this pinch out cannot be precisely located on theseismic). No definitive OWC has been identified, but possible fluid contacts were picked at 2,702m TVDSS(deepest dry oil production in Well 226), 2,724m TVDSS (ODT in Well 943) and 2,756m TVDSS (possibleODT in Well 100). The Net Oil Pay thicknesses above each of these contacts were hand contoured,digitised and Net Pay Rock Volumes calculated. The p50 Net Pay Map is shown in Figure 14.Figure 14:Lower J 1 Sand—RPS Net Pay Map (p50 Case)21FEB2008231553204.2.3. PetrophysicsRPS undertook an independent petrophysical review of wells P2ST and P3. The S w values interpreted fromwestern logs in Well P3 were higher than expected. As a result a detailed review of core and water analysisdata derived from core taken from Well P3 was undertaken. These data provided a basis for calibrating thelogs from P2 ST and P3. Core was taken from Well P3 where a water base mud was tagged with afluorescent dye. The core barrel contained a glass fibre inner barrel that was filled with depolarizedmineral oil. To obtain the background reading of fluorescent dye concentration, the tagged mud wassampled regularly during coring. However, no fluorescence was detected from the water extracted from the95