The cash flow generation is so good at present , distributions have to be 4-5C from now until Aug
From the AGM Its clear a buy back is not on the cards and either is an acquisition. I think it's wise as the upside and payback from developing existing assets is fantastic. Costs for wells are paid in arears and wells have often broken even before they are paid for as there is generally a few month delay from fist production to payment
a 22/23 FY operational cash flow of 8c very likely
w12-8E phase one now paid for so after the 2 wells finished and the 3-5 being drilled now , there wont be much in costs for a few months
I think they will look to retain 15-20 m USD in net cash but beyond that , it leaves room for over 5c in Distb. I expect 1.5 -2 c Feb and 3c in August
HZN Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
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