Shoreline Natural Resources Limited

Shoreline Natural Resources was incorporated on 10th December 2010. The company is a joint venture between Shoreline Power Company Limited, a Nigerian Company which has extensive interests in the power sector together with a strong network of relationships and Heritage Oil Shoreline Natural Resources (Nigeria) B.V, a subsidiary of Heritage Oil Limited, which has a strong technical expertise and operations in the upstream sector in Tanzania, Papua, Russia, and New Guinea. Shoreline Natural Resources leveraged on the divestment plans of the Shell Petroleum Development Company Limited to sell its participating interests in some assets located in Nigeria. On 4th November 2012, Shoreline Natural Resources acquired 45% Participating Interest of SPDC in Oil Mining Lease 30 (OML). The Nigerian Petroleum Development Company (“NPDC”), a subsidiary of Nigerian National Petroleum Corporation (NNPC) holds the remaining 55% Participating Interest in the OML 30 licence. OML 30 is located onshore in the Delta region, less than 30km east of Warri in Southern Nigeria. The licence covers 1,097 square kilometres and includes eight producing fields with oil and gas contained in numerous stacked reservoirs. Shoreline Natural Resources is in partnership with NPDC to develop OML 30 to its full potential.