Heritage Oil provides an operational update to accompany its Annual General Meeting, taking place at 3:00 pm (BST) today at 22 Grenville Street, St. Helier, Jersey.

Highlights

• The Miran West-4 appraisal well will shortly commence drilling on the Miran Block in Kurdistan. It will be the third appraisal well drilled on the Western structure • The well is designed to further appraise the oil potential of the Upper Cretaceous reservoir • It is intended that target intervals will be tested and evaluated as the high angle well is drilled to a target depth of c.1,550 metres • The Miran East-1 well is currently drilling to the Lower Cretaceous reservoir and is on schedule to reach target depth in four months. • Planning and development studies on the Miran field and FEED studies on a gas export pipeline are on-going • Tanzania work programme continues in the recently awarded Kyela and Rukwa licences with the reprocessing of legacy 2D seismic data and completion of a high resolution gravity survey. Acquisition of further 2D seismic is scheduled to commence in August 2012

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