Our Heritage
- Exceptional track record of creating shareholder value and monetising assets
- Sold Oman holdings in 2009 for $28.4 million, including working capital adjustments
- Tullow paid cash of $1.45 billion for the Ugandan Assets in 2010
- Raised approximately $100 million from the sale of assets in the Republic of Congo between 2002 and 2006
- Development expertise gained from developing and operating the Zapadno Chumpasskoye Field, Russia
First Mover Advantage
- Pioneering company in the Albert Basin, Uganda, entering in 1997
- One of the first companies to enter Kurdistan in 2004 and one of the first to be awarded a licence
- Early entry into areas such as the Democratic Republic of Congo, Malta, Mali and Libya
- Successful monetisation of holdings in the Congo, Oman and Uganda
Focus on Technical Expertise
- Discovered the M'Boundi field in the Congo in 2001
- Proved up sufficient resources in the Albert Basin to justify commercial development and unlocked a multi-billion barrel basin
- Discovered the Miran West Field
Strong Management Experience
- Management background grounded in many aspects of the oil industry has enabled Heritage to create value for shareholders
- Extensive network of well-established contacts with Governments and local businesses