Nigeria: Shoreline Natural Resources Acquires Major Stake in Oml 30

Shoreline Natural Resources Limited, a special purpose private Nigerian company formed between a subsidiary of Heritage Oil Plc and a local Nigerian partner, Shoreline Power Company Limited, has successfully completed the acquisition of a 45% participating interest in a producing oil mining lease in Nigeria ("OML 30"). The acquisition is for a total cash consideration of $850 million, net of costs (the "Acquisition"). The remaining 55% participating interest is held by the Nigerian Petroleum Development Company ("NPDC"), a subsidiary of Nigerian National Petroleum Corporation ("NNPC").