HZN

2.70%

18.0¢ horizon oil limited

Excellent research. I recall Horizon's Michael Sheridan pointing...

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m0ngy

10,075 Posts.

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23/11/15

19:25

Post #: 16458940
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Originally posted by freida ↑

Scotpev.I woke up this morning thinking "I think I should put up one more post re HZN-at least for the moment-as "Matariki" needs to be explained a bit better".
It had taken me a while to cotton onto the fact that the "Matariki prospect" is actually the prospect at the South of the Maari field(as well as the North of PEP51313).
So the recent Maari Dev.Plan wells were into the Mataraki prospect,a prospect that heads further South down into PEP51313 and goes quite a way before my "Matariki"(the subject of Strachans 7/15 analysis and my current excitement) forms pretty much the Southern extremity of the Matariki prospect.
Strachans 70mmbbl assessment of "Matariki" relates only to that part of the prospect south of the border between PMP38160 and PEP51313.Strachans "Matariki" and my "Matariki" are the same.
Strachans would have seen the same data that I easily found on "Mataraki" and seen several references to 100mmbbl that all relate to the licence south of the border .
The 30/9 CUE QR starts "The JV is focussed on assessing the remaining potential associated with the Matariki trend,up-dip of the Maari field".
The Maari section of the Matariki prospect has been shown to be a HCB fault.Its reasonable to assume the segment of the fault South of the border could be a prolific HCB area also.
Which brings me to your question.We are looking ,now,at "the remaining potential associated with the etc." according to CUE.
The chances of success South of the border would
have got to be excellent,or at least very good ,or good,wouldnt you think???
A bit more searching into"Matariki" could easily bring up some of the opinions around 2008/2009.
At the very least HZNers have a second lottery ticket to put alongside the PNG lottery ticket and I would much prefer 2 instead of 1. Exciting times coming up with Matariki now on the radar,IMO .
Initially oil doesnt have to be found at "Matariki" to energise the SP.Just a commitment to buy the extra 3D could do the trick.Strachans developed a lot of enthusiasm for Matariki with a wait anticipated ahead until 2017.I think they failed to see the see the 5/9/08 statement "The plan is to drill Matariki at the end of the Maari Development Programme".Lets see how long it takes Strachans to see they arent up to speed.
Im tickled pink with what is happenning here.Mr. Market doesnt know about it,thats for sure.

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Excellent research. I recall Horizon's Michael Sheridan pointing your posts out and saying you are 'knowledgeable of the company's activities'.

HZN Price at posting: 11.0¢ Sentiment: Buy Disclosure: Held
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