Heritage is a versatile organisation with a portfolio of quality assets managed by a highly experienced team with excellent technical, commercial and financial skills. The Company has a producing asset in Nigeria and exploration assets in Ghana, Malta and Papua New Guinea.

In 2014 Heritage Oil was acquired by Energy Investments Global Ltd. Heritage typically focuses on regions which may have been overlooked and where it can participate as an early entrant. The asset portfolio provides both geographical and operational diversification.

Producing
Material corporate transactions undertaken in 2012 provided a balance to the portfolio with assets that include significant production and reserves. The joint venture company Shoreline Natural Resources Limited (“Shoreline”), created in partnership with Nigerian company Shoreline Power, has established an indigenous company which will provide a platform for further growth within the country. Through Shoreline, Heritage acquired an interest in OML 30, a world class asset. OML 30 lies onshore the Niger Delta in one of the most prolific oil provinces in the world and includes eight producing fields with oil and gas contained in numerous stacked reservoirs. Entry into Nigeria was partially funded through the disposal of interests in Kurdistan, for which an attractive valuation was achieved.

Exploration
Activity on the exploration portfolio is focused on Ghana, Papua New Guinea, and Malta.

With its partners, Heritage holds 45% of both the Offshore South West Tano (OWST) and East Keta licence blocks in Ghana, in 1800 and 2000+m of water offshore Ghana. OWST will be drilled in 2020 and East Keta will see seismic acquisition likely 2020/21. Both are highly prospective.

Heritage with its partner Kina holds attractive acreage in Papua New Guinea, a gas/condensate system close to existing and planned gas evacuation infrastructure. The proposed construction of a new LNG facility in the area increases the attractiveness of the holding.

Heritage holds a 100% licence covering the Areas 2 and 7 in Malta. The areas contain the Caravaggio and Medina bank prospects. A data room is currently open inviting farm in offers for the high-risk high reward prospects. The prospects are ready to drill. This area of the Mediterranean is considered underexplored.

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