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THIS WEEKS STOCK IS Horizon Oil (HZN)


Inside Traders comments:

We have picked this stock 3 times already this year and it has made money each time. It doesn't hurt to revisit old picks sometimes as circumstances may change or even improve.

Directors have been buying again recently and exploration and development is continuing at a steady pace. Smart money has been entering this stock recently but there is a bit of resistance at the 38c level.


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Horizon Oil is an Australian based oil exporation company with interests in NZ, USA, China, PNG and Thailand.

Some highlights from Annual Report:

Development of the Maari oil field (offshore New Zealand) was 55% complete at end September 2007 with first oil scheduled for the 3rd quarter of 2008. Whilst HZN's share of forecast development expenditure to completion has increased by 255 from the pre-sanction estimate of US$36.5 million in October 2005 to US$45.7 million now, we could remain satisfied that costs are being managed as well as could be expected in the challenging industry environment.

On Block 22/12 (offshore China) the main focus of activities was planning work on the proposed Wei 6-12S development.

HZN expects that an agreement with the China National Offshore Oil Corporation on an Overall Development Plan will be reached by the end of calendar 2007 with detailed engineering design and project construction commencing shortly thereafter.