hzn december quarterly - summary, page-19

It may be speculation on my part - but I would be anticipating that some decent news should be forthcoming from HZN shortly:

1) Issuance of PDL for Stanley - partially (not fully) de-risking the project and freeing up US$94m in cash for HZN (someone on this thread quoted HZN Management from about a week ago, saying PDL issuance should happen "in about a week or so")
2) 2C Contingent resource upgrade for PRL 21, potentially incorporating a revised understanding of the geological reservoir (connectivity between Elevala, Ketu and Tingu).

Despite my gripes about delays and the botched communication strategy, and the balance sheet, as evidenced by SP performance this last 12 months and my own losses owning HZN, there is reason to be optimistic. This is not least because Talisman (HZN's JV partner in some of its PNG holdings) now has a greater regional gas position courtesy of its interest in PRL 38. I wonder if we will see Talisman in the drivers' seat for the Forelands' gas aggregation strategy, given their (by now) pretty large regional holding - they have heaps of acreage. Any potential associated LNG project may be more about Talisman and Mitsubishi than it may be about HZN - which is fine by me, HZN should benefit any way. Talisman's PRL 38 holding excites me, despite the gas being dry/sulphurous, there is potentially a lot of it.

As an aside: part of me, right or wrong, wants to see HZN's juicey PNG assets commercialised by a bigger player, and HZN taken out (for a premium of course, in recognition of the great work by HZN to get the assets, and the great work by the geologists - the real heroes here).

Just thoughts and opinions.....