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Heritage Oil plans London listing

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Date: Friday 28 Mar 2008

LONDON (ShareCast) - Heritage Oil Corporation said its Jersey-incorporated proposed parent company Heritage Oil Limited plans to list on London’s main market.

Heritage intends to delist its existing shares from the Toronto Stock Exchange and at the same time, obtain a listing for the exchangeable shares on the TSX and the London Stock Exchange.

Heritage is also proposing to conduct a split of its shares by a factor of ten, with the result that each existing Heritage share will be exchanged for either ten Heritage Jersey Shares or ten Exchangeable Shares.

Admission is expected to occur on 31 March 2008.

“We believe that the reorganisation and a London listing are in the best interests of Heritage and our investors,” said chairman Michael Hibberd.

“We also expect increased trading liquidity and access to an international market with a broad, relevant peer group and considerable research expertise,” he added.

JPMorgan Cazenove has been appointed to advise Heritage and Heritage Jersey and will act as sponsor.