one of the best ann i've seen for a while, page-11

My limited understanding is that the extra appeal of KPL is the possible extension from the Interoil discoveries (note IOC sp last two days reacting to CEO advice that a deal with a major oil company, I think EXXON, is imminent). Things look very good for KPL who are better "geared" to this latest drilling and also to Triceratops. I have not done or read analysis of which company presents better value but I prefer HZN for a number of reasons: I like the diverse spread of assets, the fact that they produce cash and I think they have good management. In many ways it is a safer entry - but KPL should perform better if things go well. The HZN lack of performance is probably still overhang from rights issue.