Mongy your post was excellent TU from me champ, you’ve...

Mongy your post was excellent TU from me champ, you’ve articulated perfectly what I’ve been trying to say for some time.
Paid a visit to the company’s website in particular the research undertaken by Commonwealth Bank.
Had a look at 3 of their research reports dated 30/4/2014, 3/11/2014, 27/8/2014. Extracts of the investment view copied below. CBA’s recommendations and price targets are amazing in light of what’s transpired to date. On 27/8 it was 50c. A couple of months later on 3/11 it was still 50c. On 30/4 just less than two months ago they had a price target of 35c.
What’s more interesting is the timing of these reports in relation to the FAILED merger with ROC. Horizon notified ASX the following;
4/8/2014 ROC HZN ROC Announces Superior Proposal to Acquire All ROC Shares
4/8 ROC HZN HZN: Takeover Offer For Roc by Fosun
5/8 ROC HZN HZN: Merger Implementation Deed terminated
(On 27/8 CBA research report with price target of 50c)
28/8 HZN CBA Change in substantial holding from CBA
31/10 HZN Quarterly Activities Report
(On 3/11 CBA research report with price target of 50c)
30/4/2015 HZN Quarterly Activities Report
(On 30/4 CBA research report with price target of 35c)

Something is just not adding up in my mind. Favourable CBA research reports yet tCBA have been selling off and the company has gone from a mid cap producer in the ASX top 200, to a company not much better than a penny dreadful.
I have no answers just questions and the company silence doesn’t help any.

Commonwealth Bank

Research 30 April 2015

30 April 2015 ׀ ASX Code: HZN ׀ Energy

Investment view
We retain our Overweight recommendation and price target of $0.35ps. We believe HZN has a solid underlying business, with production from Maari and Beibu providing a strong base with upside potential. The addition of Osaka Gas to the PNG JV should enhance development potential. Drilling success at Elevala, Ketu and Tingu has resulted in resource upgrades and should offer
further growth potential.


Lachlan Cuskelly T. +612 9118 1981
[email protected]
http://horizonoil.com.au/wp-content/uploads/2014/01/CBA-30-Apr-2015.pdf

03 November 2014 ׀ ASX Code: HZN ׀ Energy
Investment view
We retain our Overweight recommendation and price target of $0.50ps. We consider HZN to have a solid underlying business, with production from Maari and Beibu providing a strong base with upside potential. The addition of Osaka Gas to the PNG JV should enhance development potential. Drilling success at Elevala, Ketu and Tingu has resulted in resource upgrades and should offer further growth potential.
Lachlan Cuskelly T. +612 9118 198
[email protected]
http://horizonoil.com.au/wp-content/uploads/2014/01/CBA-03-Nov-2014-2032-1.pdf

27 August 2014 ׀ ASX Code: HZN ׀ Energy

Investment view
We retain our Overweight recommendation with a revised price target $0.50ps. We consider HZN to have a solid underlying business, with production from Maari and Beibu providing a strong base with upside potential. The addition of Osaka Gas to the PNG JV should enhance development potential. Recent drilling success at Elevala, Ketu and Tingu has resulted in resource upgrades and should offer further growth potential.
Lachlan Cuskelly T. +612 9118 1981
[email protected]
Luke Smith T. +612 9118 2868
[email protected]
http://horizonoil.com.au/wp-content/uploads/2014/01/CBA-28-Aug-14.pdf

Good luck, M1