I wouldn't expect HZN to go into a trading halt before the reserves upgrade. There is no reason they should for that sort of announcement.
I expect KPL requested a trading halt because they're concerned news has slipped out about their announcement- see KPL speeding ticket. Given that HZN went down today while KPL was in trading halt, I wouldn't be surprised if this is a KPL upgrade, not one that is independently certified. HZN management have historically waited until they have an independent report before saying anything more than "we expect a material upgrade".
As for HZNs stake in PNG- the look through valuation on PRLs 4 and 21 from the TLM/Mitsubishi deal was USD330m. With an upgrade the size that BBY is suggesting the value of HZNs 45% of Elevala/Ketu increases by 80-100m. For simplicity, a 70m increase in value for 21 would mean those two blocks are worth 36c a share to HZN. That's nothing for Maari, China and other PNG acreage. Fairly compelling in my view.
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Last
18.5¢ |
Change
-0.005(2.63%) |
Mkt cap ! $300.2M |
Open | High | Low | Value | Volume |
19.0¢ | 19.0¢ | 18.5¢ | $97.26K | 516.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
34 | 1227111 | 18.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
19.0¢ | 245749 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
34 | 1227111 | 0.185 |
40 | 1634534 | 0.180 |
14 | 760056 | 0.175 |
19 | 227119 | 0.170 |
6 | 85934 | 0.165 |
Price($) | Vol. | No. |
---|---|---|
0.190 | 245749 | 7 |
0.195 | 485497 | 8 |
0.200 | 978921 | 10 |
0.205 | 1415513 | 13 |
0.210 | 166237 | 4 |
Last trade - 16.10pm 21/08/2024 (20 minute delay) ? |
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