"...the Minister committed to take no action with respect to the...

"...the Minister committed to take no action with respect to the licences before 1 October 2018 until such time as the participants had further presented to him on the status of development planning for PDL 10..."

It's very quiet on the PNG front. Presumably HZN will provide an update in its Sep quarterly due next week.

Regarding PNG and LNG generally, today's AFR print edition said "Argo [Investments] had also been acquiring Oilsearch shares because of its PNG assets and its exposure to the LNG sector, which would experience robust demand over an extended period".

HZN holder NGE (LIC) recently stated:

"We believe Horizon, which holds 30% of the key fields, could sell down part of its stake (perhaps to 10-15%) to Changcheng as part of a co-ordinated transaction. It is feasible that Horizon could sell its part-stake for A$100m (~6c per share). If a Final Investment Decision (FID) is made on the LNG project, Horizon is entitled to a US$50m cash payment (perhaps 3cps on a present value basis) and US$80m of free carry on development costs from Osaka Gas, which acquired its stake in the project from Horizon several years ago. Upon FID, Horizon will hold a valuable minority stake in the project (together with the free carry, perhaps worth ~10c on a PV basis)."

Plenty of potential upside.. once this is sorted.

DYOR