hi Ptolemic,
EWD (operator of PPL259) wants to farm out another 25% as the previous farmout fell through - so I think that HZN will keep the 25% - but clearly I don't know.
EWD are also likely to be taken over. HZN is a possible suitor - although others may have deeper pockets.
Others may leave EWD or at least the additional 25% to HZN, and allow HZN to act as operator to prove up reserves and then farmin.
The most likely farmout is 50%. I believe that the possible range is 40% HZN preference and 60% new entrant preference.
Deal still needs to be completed hopefully this month. Hopefully there are no delays due to landholder meeting/forum outcome and/or finalisation of gas contract (fiscal terms).
I suspect that HZN will be reasonable poipular with ASX200 iinvestors, so demand should b maintained in the short-to-medium term. There is always an interesting dynamic around ASX200 entry with investors front running the candidates at each rebalance with the intention of making a quick $. Always a bit of a game in the short term.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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37 | 1450753 | 0.185 |
30 | 2168217 | 0.180 |
13 | 216114 | 0.175 |
14 | 315394 | 0.170 |
Price($) | Vol. | No. |
---|---|---|
0.195 | 779309 | 7 |
0.200 | 2134396 | 20 |
0.205 | 1613298 | 17 |
0.210 | 592048 | 6 |
0.215 | 116500 | 2 |
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