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Overview

Heritage’s operating strategy is to encourage third-party development of its mineral rights in a systematic manner to maximize the long-term value of Heritage as an investment. The act of leasing mineral rights to third parties gives rise to Lessee compliance obligations: legally binding contractual obligations outlined in Heritage lease terms and contract provisions. These compliance obligations will be monitored and enforced by Heritage to mitigate the risks of financial loss and reputational damage. Enforcement of obligations will include, but shall not be limited to, serving notices of default, repatriation of non-producing formations or even termination of leases.