Activities Operations

Activities Operations Overview

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Permit listing – as at April 2013:

Country	Permit	Principal assets	Horizon Oil Interest
New Zealand	PMP 38160 PEP 51313	Maari/Manaia fields Offshore Taranaki Basin	10.00% 21.00%; 10% in Whio prospect area if a discovery is made
China*	Block 22/12	Wei 6-12, WZ 6-12 South and WZ 12-8 West fields Wei 12-8 East field	Post-CNOOC Back-in:  26.95%/55.00%
Papua New Guinea	PRL 4** PRL 21** PPL 259 PPL 430 PPLs 372 and 373	Stanley discovery Elevala & Ketu discoveries	50.00% (Operator) 45.00% (Operator) 25.00% 50.00% (Operator) 90.00% (Operator)

* China National Offshore Oil Corporation is entitled to participate at up to a 51.00% equity level in any commercial development within Block 22/12.  During 2011 they exercised their right to participate in the development of WZ 6-12 and WZ 12-8W within Block 22/12 at 51.00%.
** PNG Govt may appoint a state nominee to acquire up to a 22.5% participating interest in any commercial development within PRL 4, PRL 21 and PPL 259. PRL 21 was granted with effect from 18 March 2011 for a 5 year term following the settlement of legal proceedings with the Papua New Guinea Government over the acreage, which was formerly designated PRL 5.