Sobering take on things Mongy
I was searching for positives and recall Emmet stated in the recent BRR FY16 Podcast that HZN would be debt free by end of 2019 based on consensus price decks.
I figure HZN will produce around 3.5mmbbls between now and end of 2019.
To pay off USD140 debt (ANZ90m + IMC50m) would require USD40 from every one of those 3.5m brls sold. I guess he's assuming av USD70/brl crude which seems optimistic.
Anyway, at least most of those 2P developed reserves will be replenished from BG P2 and some gas from Stanley/Ok Tedi development.
Keeps them in the game while a solution is found for PNG assets.
Like you, I don't see any major sp catalysts in the near term. It's a bottom draw job or a churning stock for traders without much downside from here, and assuming volume stays reasonable.
Sobering take on things Mongy I was searching for positives and...
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Last
18.3¢ |
Change
-0.003(1.35%) |
Mkt cap ! $292.1M | |||
| Open | High | Low | Value | Volume |
| 18.5¢ | 18.5¢ | 18.0¢ | $21.41K | 116.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 836901 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.5¢ | 850479 | 5 |
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| Last trade - 11.00am 03/07/2024 (20 minute delay) ? |
| HZN (ASX) Chart |