Heritage Oil Intends to List on the London Stock Exchange
Heritage Oil Corporation (together with its subsidiaries) announced the intention of Heritage Oil Limited, the Jersey-incorporated proposed parent company of Heritage following completion of a court-approved plan of arrangement under the Business Corporations Act, and of Heritage concurrently to apply for the admission to listing of the ordinary shares of Heritage Jersey and a new class of exchangeable shares of Heritage on the Official List of the United Kingdom Listing Authority and to trading on the Main Market of the London Stock Exchange plc. Following completion of the Arrangement, Heritage Jersey will be the parent company of Heritage. Approval for the Arrangement was obtained from Heritage security holders at the special meeting which took place on March 20, 2008. In addition, the court of Queen's Bench of Alberta has granted a final order to approve the Arrangement and the proposed Admission. Admission is expected to occur on 31 March 2008. The trading symbol for the Heritage Jersey Shares will be HOIL.
Heritage intends to delist its existing common shares from the Toronto Stock Exchange and at the same time, obtain a listing for the Exchangeable Shares on the TSX and the Official List. 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 in accordance with the terms of the Arrangement.
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