If you look at the HZN presentation they have hedged 2015 production until August almost up to their hedge policy limit (slide 20 of AGM presentation) so there seems to be limited scope to increase that further. Increases would have to be in 2016+ and the scope in 2016 would be limited to around 750bbl/d.
No one can deny the importance of the hedges HZN has put on, but the valued derived from those will go to ensuring the senior debt continues to be paid (upcoming first quarter of repayments as to date they have only been paying interest). I doubt there will be much left over to put towards equity but lets wait and see.
HZN Price at posting:
15.5¢ Sentiment: Hold Disclosure: Not Held
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