Yes the Eureka assessment got it wrong about the share price...

Yes the Eureka assessment got it wrong about the share price heading to a target of 50c but I'm not sure why we are now seeing 28c? Since Kohler's assessment the company has made good progress with Stanley and will be in production before long plus with greatly expanded gas reserves. Although there is currently some gloom over oil and gas stocks PNG fields are going to be a very low cost producers according to Goldman Sachs and with close proximity to Asia Horizon is well placed to prosper long after the shale producers become uneconomical. Horizon's partnership with Osaka Gas is also a huge advantage in selling into the Japanese market. And finally the company is in a good financial position with payments for selling part of its stake in Stanley and revenues from its latest oil strikes. I think the current valuation at 28c is crazy and likely to attract a takeover bid.