HZN 0.00% 20.0¢ horizon oil limited

Beibu Drilling Commences

  1. 3,825 Posts.
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    HZN announces today that Beibu exploration drilling (two wells) aiming to extend producing field commenced.

    Based on price being paid by Fosun for ROC of $450M (and Roc’s independent expert’s report classifies Roc’s 20% interest in Beibu to be about 40% of Roc’s value), 100% of Beibu is worth $900M (based on ROCs 20% being worth $180M). So HZNs 26.95% of Beibu is valued at $242M.

    Compare this to current HZN market cap of only $400M (1.3B shares at 31c).

    Drilling may bring some focus of interest to Beibu, and to HZN.

    Any drilling success may bring some real attention to HZN undervaluation.

    DYOR and GLTH
 
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Mkt cap ! $324.6M
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20.0¢ 20.5¢ 19.5¢ $334.2K 1.670M

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No. Vol. Price($)
37 440510 19.5¢
 

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Price($) Vol. No.
20.0¢ 479345 1
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Last trade - 16.10pm 29/07/2024 (20 minute delay) ?
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