Horizon Oil is poised for a share price re-rating off the back of:
Material, stable net operating cash flow from China and New Zealand of US$50 - 60 million pa over the period 2017 - 2022
Although Horizon Oil anticipates continuing strong cash generation over the medium term from its existing producing fields, these developed reserves account for only 10% of total reserves and resource base. The focus going forward will be on new field development, funded largely from existing production cash flow.
