up 12 percent today, page-2

Maybe due to IT article.

THIS WEEKS STOCK IS Horizon Oil Ltd (HZN)

Horizon Oil Limited (HZN) is an oil and gas exploration, development and production company with projects located in New Zealand, Papua New Guinea, the United States and China. Horizon is focused on the development of the Maari Field in New Zealand.

Here is what their coporate goals from their website:

* Proceed with Maari construction phase towards installation in late 2007

* Carry out FEED on Wei 6-12S, make FID and begin construction phase; drill 2 exploration wells on Block 22/12

* Obtain Petroleum Contract for Lei Dong and farmout

* Complete initial seismic acquisition on Block G10/48 in Thailand and define drilling locations

* Realise value for Bayou Choctaw

* Advance evaluation and commercialisation of PRL 4 and PRL 5 in PNG

* Add low-risk exploration acreage

* Acquire pre-development opportunities for exploitation by SFD Alliance

* Maintain share price in fair valuation range


INSIDE TRADERS OBSERVATIONS

It's this last point that's interesting. Everytime the share price gets near 28c, it bounces back, often with Directors buying. This is showing a good support at this price so it may be a case of buying on share price weakness rather than rush in just now.

Also, oil price was down overnight due to the possibility of a new president in Nigeria stabilising supply from that region.

Either way, it's most likely a medium term investment as they have to complete more exploration programs first.