I am a long-term holder of HZN and also a holder of the small...

I am a long-term holder of HZN and also a holder of the small well-performing LIC NGE.

NGE has just announced that it has accumulated a stake in HZN (6.8% of NGE's portfolio, but only approx $2M value). NGE ASX announcement today gives a detailed reasoning that may be of interest to HZN holders (easy to find on HC!). 

I will just give excerpt here:

"

CHEAP ON SUM-OF-THE-PARTS VALUATION:

We value Horizon’s producing assets in the Chinese Beibu Gulf and New Zealand’s Taranaki Basin at ~20c per share (~26c less net debt of ~6c) based on a LT Brent oil price of US$70/bbl. The kicker to valuation is Horizon’s stake in a midscale LNG project in Papua New Guinea, which could potentially be worth an additional ~10- 20c. At the current share price level of 15c, we are getting the PNG LNG stake for free. Our average entry price was ~12.5c

"

Just for the record, I think that NGE is not exaggerating the potential!