Heritage Oil Limited

Heritage Oil Limited

May 07, 2009 13:15 ET

Heritage Oil Limited (the "Company") Holding(s) in Company

CALGARY, ALBERTA--(Marketwire - May 7, 2009) -

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Heritage Oil Limited

2. Reason for the notification:

An acquisition or disposal of voting rights

3. Full name of person(s) subject to the notification obligation:

James Passin, in his capacity as member of FGS Advisors, LLC

4. Full name of shareholder(s) (if different from 3):

Firebird Global Master Fund, Ltd

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

6 May 2009

6. Date on which issuer notified:

6 May 2009

7. Threshold(s) that is/are crossed or reached:

5.0% and 4.0%

8. Notified details:



----------------------------------------------------------------------------
A: Voting rights attached to shares
----------------------------------------------------------------------------
Situation
Class/type previous to the
of shares if Triggering Resulting situation after
possible transaction the triggering transaction
using the ----------------------------------------------------------------
ISIN CODE Number of Number of Number of Number of % of voting
Shares Voting shares voting rights rights
Rights -------------------------------------------
Direct Direct Indirect Direct Indirect
----------------------------------------------------------------------------
Ordinary 14,384,000 14,384,000 9,384,000 Nil 9,384,000 Nil 9,384,000

ISIN Number
JE00B2Q4TN56
----------------------------------------------------------------------------

----------------------------------------------------------------------------
B: Financial Instruments
----------------------------------------------------------------------------
Resulting situation after the triggering transaction
----------------------------------------------------------------------------
Type of Expiration Exercise/ Number of voting rights % of voting
financial date Conversion that may be acquired rights
instrument Period/ Date if the instrument is
exercised/ converted.
----------------------------------------------------------------------------

----------------------------------------------------------------------------

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Total (A+B)
----------------------------------------------
Number of voting rights % of voting rights
----------------------------------------------
9,384,000 3.68%
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9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable (xv):

The voting rights associated with the shares referred to in Question 8 are held directly by Firebird Global Master Fund, Ltd., which holds the voting rights associated with 9,384,000 ordinary shares of the issuer, representing approximately 3.68% of the total voting rights of the issuer. FGS Advisors, LLC serves as the investment manager of Firebird Global Master Fund, Ltd. and is controlled by James Passin, who controls the exercise of these voting rights.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

James Passin

15. Contact telephone number:

+1 212 698 9260

Contact Information

  • Heritage Oil Limited
    Paul Atherton
    +44 (0) 1534 873 000