Break down through 26c?, page-22

The debt facility likely would have been based on $60-70/bbl oil. Most companies use that sort of price in their financial models for projects. I would be surprised if Beibu and Maari, and financing, were based off much more than $60/bbl oil.

HZN has a decent amount of production hedged.

Today's fall was quite unusual and specific. Be interesting to know who the seller was - and whether it was large holder exit (would show up as change in substantial), hedge fund punting on oil price collapse and doom, or just routine shorting. US hedge funds go through this sort of process: "we think oil is going to fall further. Lets find a leveraged small co somewhere in the world to short. HZN.AX fits the bill".

I am only speculating about what actually happened. But the above seems plausible.

-12% in one day, for this stock, while plenty of other oil stocks were in the green, is perhaps not just rationally following the oil price.