Heritage Oil Limited
LSE : HOIL

Heritage Oil Limited

November 27, 2008 13:18 ET

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

CALGARY, ALBERTA--(Marketwire - Nov. 27, 2008) -

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.

(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes should in block capital letters.

1. Name of the issuer

HERITAGE OIL LIMITED

2. State whether the notification relates to:

(i) a transaction notified in accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4®(1)(b) a disclosure made in accordance with section 324 (as extended by section 328) of the Companies Act 1985; or

(iii) both (i) and (ii)

RELATES TO (i)

3. Name of person discharging managerial responsibilities/director

JOHN MCLEOD

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

N/A

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial

IN RESPECT OF PERSON REFERRED TO IN 3 ABOVE

6. Description of shares (including class), instruments relating to shares

ORDINARY SHARES OF NO PAR VALUE

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

JOHN MCLEOD

8 State the nature of the transaction

EXERCISE OF OPTIONS FOR 100,000 SHARES IN THE ISSUER AND THE SUBSEQUENT DISPOSAL OF SUCH SHARES FOR AN AVERAGE PRICE OF 171.5909 PER SHARE.

9. Number of shares, debentures or financial instruments relating to shares acquired

100,000

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

0.04%

11. Number of shares, debentures or financial instruments relating to shares disposed

100,000

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

0.04%

13. Price per share or value of transaction

AT AN AVERAGE PRICE OF 171.5909 PENCE PER SHARE

14. Date and place of transaction

25 NOVEMBER 2008, LONDON STOCK EXCHANGE

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

20,000 (0.01%)

16. Date issuer informed of transaction

26 NOVEMBER 2008

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17 Date of grant

N/A

18. Period during which or date on which it can be exercised

N/A

19. Total amount paid (if any) for grant of the option

N/A

20. Description of shares or debentures involved (class and number)

N/A

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

N/A

22. Total number of shares or debentures over which options held following notification

N/A

23. Any additional information

JOHN MCLEOD STILL HAS 450,000 OPTIONS TO ACQUIRE THE ISSUER'S SHARES WHICH WERE PREVIOUSLY GRANTED UNDER THE ISSUER'S 2008 REPLACEMENT SHARE OPTION SCHEME.

24. Name of contact and telephone number for queries

Name and signature of duly authorised officer of issuer responsible for making notification

Paul Atherton

Date of notification 27 November 2008

Contact Information

  • Heritage Oil Limited
    Tony Buckingham
    CEO
    +44 (0) 1534 873 000
    or
    Heritage Oil Limited
    Paul Atherton
    CFO
    +44 (0) 1534 873 000
    Email: info@heritageoilltd.com
    or
    Heritage Oil Limited
    Tanya Clarke
    Investor Relations
    +44 (0) 20 7518 0838
    Email: tc@heritageoilltd.com
    or
    Bell Pottinger Corporate & Financial - PR - Europe
    Nick Lambert
    +44 (0) 20 7861 3232
    Email: NLambert@bell-pottinger.co.uk
    or
    Bell Pottinger Corporate & Financial - PR - Europe
    Andrew Benbow
    +44 (0) 20 7861 3232
    Email: ABenbow@bell-pottinger.co.uk
    or
    CHF Investor Relations - Investor Relations - Canada
    Cathy Hume
    (416) 868-1079 x231
    Email: cathy@chfir.com
    or
    CHF Investor Relations - Investor Relations - Canada
    Lindsay Carpenter
    (416) 868-1079 x239
    Email: lindsay@chfir.com