Heritage Oil Limited notes the recent movement in the Company's share price. The Company confirms that it is in preliminary discussions with a third party regarding a possible merger which would be treated as a reverse takeover under the Listing Rules of the UK Listing Authority if completed. No agreement has been reached between the third party and the Company and there can be no assurances that any agreement will be reached or even if reached, that any such agreement will be completed.
At the request of the Company, trading on the Main Market of the London Stock Exchange will be temporarily suspended pending an update with further information on this possible transaction which the Company shall provide in due course.
In accordance with Rule 2.10 of the Takeover Code (the 'Code'), Heritage confirms that, as at 31 May 2009, it has 257,062,088 ordinary shares and 3,024,108 exchangeable shares of no par value in issue and admitted to trading on the London Stock Exchange under the UK ISIN code JE00B2Q4TN56 and CA4269283053.
JPMorgan Cazenove Limited ('JPMorgan Cazenove'), which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for Heritage and no-one else in connection with this announcement and will not be responsible to anyone other than Heritage for providing the protections afforded to its clients or for providing advice in relation to the contents of this announcement, or for any other transaction, arrangement or matters referred to in this announcement.