Heritage Oil Plc
LSE : HOIL
TSX : HOC

Heritage Oil Plc

October 05, 2009 02:00 ET

Heritage Oil-Proposed Acquisition of Genel Energy International Ltd

CALGARY, ALBERTA--(Marketwire - Oct. 5, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Plc (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, confirms that from today it will provide the market with any material information in relation to the Taq Taq licence in the Kurdistan Region of Iraq until such other date as required by the UKLA.

In its announcement of 9 June 2009 in connection with the proposed acquisition of Genel Energy International Ltd ("Genel"), Heritage informed the market that Addax Petroleum Corporation ("Addax"), had continuing obligations as a reporting issuer in Canada and as a listed company on the Toronto and London Stock Exchanges, including in relation to the Taq Taq licence in which Genel holds an interest and is joint operator with Addax.

Following the completion of Sinopec International Petroleum Exploration and Production Corporation's acquisition of Addax, and the subsequent delisting of Addax's shares from the Toronto and London Stock Exchanges, Addax's disclosure obligations have now ceased.

The Board of Heritage today confirms that Heritage will make any announcement that may be required to comply with its obligation under the FSA Disclosure and Transparency Rules on developments in relation to the Taq Taq licence, should there be any.

Notes to Editors

- Heritage is listed on the Main Market of the London Stock Exchange and is a constituent of the FTSE 250 Index. The trading symbol is HOIL. Heritage has a further listing on the Toronto Stock Exchange (TSX:HOC).

- Heritage is an independent upstream exploration and production company engaged in the exploration for, and the development, production and acquisition of, oil and gas in its core areas of Africa, the Middle East and Russia.

- Heritage has a producing property in Russia and exploration projects in Uganda, the Kurdistan Region of Iraq, the Democratic Republic of Congo, Malta, Pakistan, Tanzania and Mali.

- For further information please refer to our website, www.heritageoilplc.com

If you would prefer to receive press releases via email please contact Lindsay Carpenter (lindsay@chfir.com) and specify "Heritage press releases" in the subject line.

FORWARD-LOOKING INFORMATION:

Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding production estimates and future plans and objectives of Heritage - constitute forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves and recoveries; production and operating cost assumptions; development risks and costs; the risk of commodity price fluctuations; political and regulatory risks; and other risks and uncertainties as disclosed under the heading "Risk Factors" in its Prospectus and elsewhere in Heritage documents filed from time-to-time with the London Stock Exchange and other regulatory authorities. Further, any forward-looking information is made only as of a certain date and the Company undertakes no obligation to update any forward-looking information or statements to reflect events or circumstances after the date on which such statement is made or reflect the occurrence of unanticipated events, except as may be required by applicable securities laws. New factors emerge from time to time, and it is not possible for management of the Company to predict all of these factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information.

Contact Information

  • Heritage Oil Plc
    Tony Buckingham, CEO / Paul Atherton, CFO
    +44 (0) 1534 835 400
    info@heritageoilplc.com
    or
    Heritage Oil Plc - Investor Relations
    Tanya Clarke
    +44 (0) 20 7518 0838
    tanya.clarke@heritageoilplc.com
    or
    Financial Adviser and Corporate Broker to Heritage Oil Plc
    J.P. Morgan Cazenove Limited
    +44 (0) 20 7588 2828
    Ian Hannam / Barry Weir
    or
    Bell Pottinger Corporate & Financial - PR - Europe
    Nick Lambert
    +44 (0) 20 7861 3232
    NLambert@bell-pottinger.co.uk
    or
    CHF Investor Relations - Investor Relations - Canada
    Cathy Hume / Lindsay Carpenter
    +1 416 868 1079 x231 / x239
    cathy@chfir.com / lindsay@chfir.com