Very limited on both, they occasionally hedge Maari liftings as...

Very limited on both, they occasionally hedge Maari liftings as sales are lumpy but everything else is unhedged. Personally I look at the Brent AUD price as is the best indicator of how much money they are making.

As for the SP before half yearly, if it doesn't hit 17c before HY results, it should well and truly hit it after. The simple fact is the Dec and Jan production rates have been sensational as will be Feb, and we are set up for at least 2 years of great distributions of circa 9c -10c IMO in total. I also have a growing confidence of value add news within that period

What i have done with the last 2 distributions is reinvested them into buying more HZN so the income derived from future distributions is even greater. I will probably do the same this year with the view of getting dividends on dividends in 2024. Personally depending on news flow i think the sweet spot to hold is over next 18 -24 months. If they dont extend NZ or china or acquire something i would probably look to sell end of 24, but that also depends on how high oil price and production can remain. I think 90% of todays SP will be paid back over 3 CY years including this one. I would love to see them acquire a company like Comet ridge and pivot to gas and secure next decade plus of income/ revenue but not sure the major shareholders will agree