Announcement of New Chief Executive Officer of Heritage Oil Limited ("HOL") and of Heritage Energy Operational Services Limited ("HEOSL")

·  Chairman Michele Faissola delighted about appointment as company plans for future growth

JERSEY, England, July 20, 2022 /PRNewswire/ -- Heritage Oil Limited is pleased to announce that it has appointed Adogbeji (Ado) Oseragbaje as its new Chief Executive Office with effect from the 14^th of July 2022. Ado will also lead HOL's Nigerian operations as Chief Executive Officer of Heritage Energy Operational Services Limited.

Ado brings twenty-five years of global leadership experience in the oil and gas business and joins us from Baker Hughes where he was Vice President covering Sub-Saharan Africa. He has previously held senior positions, including at General Electric and Schlumberger, across the world.

Commenting on the appointment, Chairman of HOL, Michele Faissola, stated: "Ado brings a wealth of experience to the role that will be of huge benefit to the company and its stakeholders, particularly in Nigeria. We are delighted to appoint a person of Ado's caliber as our new Chief Executive Officer."

Ado holds a Masters degree in Petroleum Engineering from Imperial College London and a Diploma in Real-Time Oilfield Project Management from Heriot-Watt University Scotland. Regarding his new appointment he said: "I am excited to join the Heritage team. The Company has a diverse portfolio, world class assets, the potential for future expansion and an ambition to join in addressing the dual challenge of energy security and sustainability. I think we are a great fit and I'm looking forward to this opportunity.."

Naeem – Atiq Sadiq, has now stepped down from his current role as Chief Executive Officer of HOL and HEOSL but will remain with the company for an interim period to facilitate a smooth handover to Ado.

"This is an exciting time for Heritage as we look forward to investing and growing our business," continued Faissola, "I would also like to thank Naeem for nearly five years of service to the company and for agreeing to facilitate the handover."

ABOUT:
Heritage Oil is an independent versatile oil and gas exploration and production company. It aims at identifying potentially lucrative regions that have been overlooked and participating in their development as early entrant. The company's portfolio includes producing fields in Nigeria. Heritage Oil was founded in Canada in 1992 and was acquired by Energy Investments Global Ltd in 2014. For more information, visit http://heritageoilltd.com/.

Photo - https://mma.prnewswire.com/media/1862941/Heritage_Oil_Limited.jpg

CONTACTS:
HOL: General Counsel and Company Secretary, Philip Laing, Philip.Laing@heritageoilltd.com
HEOSL: General Manager, Government, JV and External Relations, Adesola Adebawo, adesola.adebawo@HEOSL.com