Heritage Oil Declares Special Dividend of GBP 1.00 Per Share

Heritage Oil Plc (TSX:HOC)(LSE:HOIL), an independent upstream exploration and production company, announced the declaration of a special dividend of £1.00 per ordinary share of the Company.

The press release is quoted as saying:

Heritage Oil Corporation (“HOC”), the Company’s wholly owned subsidiary, today also announces the declaration of a special dividend of Cdn$1.62 per exchangeable share of HOC (“Exchangeable Share”), calculated at an exchange rate of £1.00:Cdn$1.62. This announcement follows that made on 27 July 2010 in respect of the completion of the sale of the Company’s entire interests in Block 1 and Block 3A in Uganda to Tullow Uganda Limited (the “Sale”) and the Company’s intention to distribute a significant proportion of the consideration received for the Sale to its shareholders.

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