Forget ROC look at OEL, page-2

Yes and there are several other M&A possibilities in PNG. The PNG Government has just sold its Oil Search stake to UBS and the National Petroleum Company of Papua New Guinea has bought Cue Energy Resources assets. Interoil is cashed up and on the prowl. There could be synergies between Kina Petroleum and Horizon Oil and the prospect of Western Forelands gas being commercialised via an expansion train at PNG LNG. While Horizon is currently developing a condensate stripping operation at Stanley and, together with Kina, has plans for a similar operation at the much larger resource in PRL 21, the about 1.5 trillion cubic feet of gas is largely stranded with no value factored into the share price of Kina or Horizon. Despite all the gloom and doom 2015 could be a big year for Horizon.