Ann: Half-Year Results Presentation, page-13

Hi all
A few further thoughts post the half
I we subtract full year prod and sales target from 1st half, we can see this first half HZN will produce and sell over 1 m barrels
We underestimate NZ contribution but with higher premium, the margins are not unlike China especially needing much less ongoing drilling.
Focus is maintaining higher production for longer and that is aimed to be achieved via both water handling and drilling. They are absolutely of maintaining step change in production as high as possible for as long as possible
The upside in W12 -8E is a big plus given end of permit is end of 2030 with potential for expansion

Lastly, it seems Brent refused to fall below 80 and AUD brent below 120 for more than a day or two and i wonder whether we are winding up for a solid bounce in oil over next few weeks leading into Russia cut

In interim, the chances for a 4.5 c divi over next 3 years at least seems very likely