Activities Operations

Activities Operations Overview

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Permit listing – as at November 2009:

Country	Permit	Principal assets	Horizon Oil Interest
New Zealand	PMP 38160 PEP 38413 PEP 51313	Maari Manaia Matariki	10.00% 10.00% 30.00%
China*	Block 22/12	Wei 6-12 E & 6-12W fields Wei 6-12S, 6-12-1 & 12-2-1 discoveries	Pre-CNOOC Back-in: 30.00% Post-CNOOC Back-in:  14.7%
Papua New Guinea	PRL 4 PRL 5	Stanley discovery Elevala & Ketu discovery	50.00% (operator) 50.00%
USA	Bayou Choctaw field	Victory Financial lease Wilberts lease	14.00% - 28.50% 19.80% (working interest)

* CNOOC has a back in entitlement of up to 51% total equity in the field development