2013 RESULTS & ACTIVITY UPDATE April 2014
DISCLAIMER – IMPORTANT NOTICE Certain information in this presentation is based on management estimates. Such estimates have been made in developments to differ materially from those expressed or implied by the forward-looking statements. In particular, good faith and represent the genuine belief of applicable members of management. Those management there is no assurance that the conditions precedent to completion of the proposed Divestment will be satisfied or members believe that such estimates are founded on reasonable grounds. However, by their nature, estimates waived and the Company may not realise the anticipated benefits, operational and other synergies and/or cost may not be correct or complete. Accordingly, no representation or warranty (express or implied) is given that such savings from the proposed Divestment or the Loan repayment. estimates are correct or complete. No representation or warranty (express or implied) is given that such Any forward-looking statements in this presentation reflect the Company’s view with respect to future events as at estimates are so founded. Neither the Company nor J.P. Morgan Cazenove or Standard Bank undertake any the date of this presentation and are subject to risks relating to future events and other risks, uncertainties and obligation to correct or complete any estimate whether as a result of being aware of information (new or assumptions relating to the Company’s operations, results of operations, growth strategy and liquidity. None of otherwise), future events or otherwise. the Company, J.P. Morgan Cazenove or Standard Bank undertake any obligation publicly to release the results of Overseas shareholders any revisions or up-dates to any forward-looking statements in this presentation that may occur due to any This presentation has been prepared for the purposes of complying with English law and the Listing Rules of the change in its expectations or to reflect events or circumstances after the date of this presentation. FSA and information disclosed may not be the same as that which would have been prepared in accordance with Subject to certain exceptions, neither this presentation nor any copy of it may be taken or transmitted into the the laws of jurisdictions outside England. United States, its territories or possessions or distributed, directly or indirectly, in or into the United States, its Persons who are not resident in the United Kingdom may be affected by the laws of jurisdictions other than the territories or possessions. Neither this presentation nor any copy of it may be taken or transmitted into any other United Kingdom. Such persons should inform themselves about and observe any applicable requirements of such jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction or to any securities jurisdictions. Any failure by such persons to comply with any applicable restrictions may constitute a violation of analyst or other person in any of those jurisdictions. Any failure to comply with this restriction may constitute a the securities laws of any such jurisdiction. To the fullest extent permitted by applicable law, the companies violation of United States or other applicable securities law. The distribution of this presentation in other jurisdictions may involved in the proposed Divestment, J.P. Morgan Cazenove and Standard Bank disclaim any responsibility or be restricted by law and persons into whose possession this document comes should inform themselves about, liability for the violation of such restrictions by any person. and observe, any such restrictions. This presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and Copies of this presentation are not being, and must not be, mailed or otherwise forwarded, distributed or sent in, will not be registered under the US Securities Act of 1933 (the “Securities Act”), and may not be offered or sold in into or from any jurisdiction where to do so would constitute a breach of securities laws in that jurisdiction. the United States absent an exemption from, or in a transaction not subject to the registration requirements of the Persons receiving this presentation (including custodians, nominees and trustees) should observe these Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United restrictions and should not send or distribute this presentation in, into or from any such jurisdictions. States. There will be no public offer of any securities of Heritage in the United States. The securities referred to herein have not been and will not be registered under the applicable securities laws of any other restricted CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: jurisdiction and, subject to certain exceptions, may not be offered or sold within any jurisdiction where to do so This presentation includes statements that are, or may be deemed to be, “forward -looking statements” . These would constitute a violation of the relevant laws or to any national, resident or citizen of such jurisdiction. forward-looking statements include, but are not limited to, statements with regard to the outcome of the exercise of the Shoreline Option, proposed Divestment, Loan, future production and grades, projections for sales growth, This presentation constitutes an advertisement within the meaning of the Prospectus Rules of the FSA and is not estimated revenues, reserves and resources, targets for cost savings, the construction cost of new projects, the a prospectus and has been prepared solely in connection with the proposed Divestment. Copies of certain timing and outcome of exploration projects and drilling programmes, projected capital expenditures, the timing of corporate documents relating to certain matters discussed herein are/will be available from the Company’s new projects, future cash flow and debt levels, the outlook for the prices of hydrocarbons, the integration of registered office and from 34 Park Street, London, W1K 2JD and are/will be available for viewing on the acquisitions, the outlook for economic recovery and trends in the trading environment, statements about Company’s website at www.heritageoilplc.com. strategies, cost synergies, revenue benefits or integration costs and production capacity and future production levels and timing, and may be (but are not necessarily) identified by the use of words such as “believes”, Important Information “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “may”, “aims”, “plans”, “predicts”, “continues”, This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, exchange, or transfer “assumes”, “positioned”, “will”, or “should” and other similar expressions that are predictions of or indicate future any securities of Heritage. The value of ordinary shares of Heritage and exchangeable shares of Heritage Oil events and future trends or, in each case, their negative or other variations or comparable terminology. These Corporation exchangeable into ordinary shares of Heritage can go down as well as up and past performance forward-looking statements include matters that are not historical facts and include statements regarding the cannot be relied on as a guide to future performance. Company’s intentions, beliefs or current expectations. An investor should not place undue reliance on forward- looking statements because, by their nature, they involve known and unknown risks, uncertainties and other factors and relate to events and depend on circumstances that may or may not occur in the future that are in many cases beyond the control of the Company. A number of factors could cause actual results and 2 All dollars are US dollars unless otherwise quoted.
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