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| 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.