Heritage Oil Corporation Announces the Use of Due Bill Trading

For Its Exchangeable Shares in Connection with the Proposed Rights Offering
This press release is not for distribution to United States Newswire Services or for dissemination in the United States.
Heritage Oil Corporation (TSX:HOC)(LSE:HOIL) (the “Corporation”) announced today that the Toronto Stock Exchange (“TSX”) has determined that its “Due Bill” trading procedures will apply to the Corporation’s exchangeable shares listed and trading on the TSX in connection with the proposed rights offering by Heritage Oil Plc (“Heritage” or the “Company”). The details of the proposed rights offering was announced on August 6, 2012. The rights are payable on August 30, 2012 and the record date for the distribution is August 28, 2012.
Pursuant to the TSX’s “Due Bill” trading procedures, trades of the exchangeable shares entered into from and including August 24, 2012 and until August 30, 2012 will have a Due Bill attached which will allow the purchaser to receive the rights instead of the seller, even if the trades are settled after the record date (i.e. August 28, 2012). Investors who enter into trades to purchase the exchangeable shares of the Corporation on or after the ex-distribution date of August 31, 2012 will not be entitled to the rights of Heritage Oil Plc.
The Due Bills will be redeemed on September 5, 2012 once all the trades with attached Due Bills entered into up to August 30, 2012 have settled.
Notes to Editors
— Heritage Oil Plc 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
— 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 an exploration, appraisal and development asset in the
Kurdistan Region of Iraq, exploration assets in Malta, Tanzania,
Pakistan, Libya and the Democratic Republic of Congo and a producing
property in Russia.
— For further information please refer to our website,
If you would prefer to receive press releases via email please contact Jeanny So (jeanny@chfir.com) and specify “Heritage press releases” in the subject line.
Certain information in this announcement is based on management estimates. Such estimates have been made in good faith and represent the genuine belief of applicable members of management. Those management members believe that such estimates are founded on reasonable grounds. However, by their nature, estimates may not be correct or complete. Accordingly, no representation or warranty (express or implied) is given that such estimates are correct or complete. No representation or warranty (express or implied) is given that such estimates are so founded. The Company does undertake any obligation to correct or complete any estimate whether as a result of being aware of information (new or otherwise), future events or otherwise.
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