Short Term Trading Weekend Lounge: 7 -9 Apr, page-94

HZN HORIZON OIL HZN hold a porƞolio of exploraƟon, development and producing assets in the Asia Pacific. Current producƟon from the Maari/Manaia Fields (HZN 10%) in NZ is 1000bopd and from the Beibu Gulf Fields (27%HZN) in China 3000bopd. Net operaƟng cash flow for CY2016 was $US53.5M. Cash OperaƟng Cost for 2017 is esƟmated to be $US 12-13/bbl and free cash flow (FCF) breakeven is $US33/bbl. There is a focus to reduce costs and bring more fields on line in the Beibu Gulf Offshore China. The Company’s net 2P reserves are 9MMbo and 884Bcf gas. In PNG, the Company holds 8000 sq km of net tenure in 4 separate blocks, primarily in the wet gas “sweet spot”. Gas from PDL 10 (HZN 30%) and PRL 21 (HZN 27%) are to be the foundaƟon supply for a Western Province gas aggregaƟon scheme. HZN also hold 50% in PRL 28 and 100% of PPL 430. Total 2C Gross Resource from the PNG Projects is 67MMbbls condensate and 1,794Bcf raw gas. Net debt is $US120.8M.
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