FID on 3 well Beibu development is due quite soon. This is almost certain to be positive. Beibu is a highly productive field and the Chinese Govt would be highly supportive, if not insistent, on expansion. When it happens Beibu will almost certainly surpass NZ production and add up to 20% to oil production. Beibu has a very low cost of production. so revenue will jump again. And we still have an entitlement of nearly $US90 m due to be repaid for cost recovery. I look forward to a time in the not too distant future when debts are at a level where we can resume detailed exploration of our PNG tenements and part fund the Western Development infrastructure. The future is looking very bright for Horizon.
HZN Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
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