Sobering take on things Mongy
I was searching for positives and recall Emmet stated in the recent BRR FY16 Podcast that HZN would be debt free by end of 2019 based on consensus price decks.
I figure HZN will produce around 3.5mmbbls between now and end of 2019.
To pay off USD140 debt (ANZ90m + IMC50m) would require USD40 from every one of those 3.5m brls sold. I guess he's assuming av USD70/brl crude which seems optimistic.
Anyway, at least most of those 2P developed reserves will be replenished from BG P2 and some gas from Stanley/Ok Tedi development.
Keeps them in the game while a solution is found for PNG assets.
Like you, I don't see any major sp catalysts in the near term. It's a bottom draw job or a churning stock for traders without much downside from here, and assuming volume stays reasonable.
Where to from here...., page-69
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Last
20.0¢ |
Change
0.005(2.56%) |
Mkt cap ! $316.9M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.0¢ | 20.0¢ | $218.6K | 1.093M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 1411570 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 1309461 | 19 |
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| Last trade - 10.08am 02/10/2024 (20 minute delay) ? |
| HZN (ASX) Chart |