Horizon Oil Limited (‘Horizon Oil’) is listed on the Australian Stock Exchange (‘ASX’) and is one of Australia’s leading junior oil and gas companies. Horizon Oil has approximately 1,135.3 million shares on issue and a market capitalisation of around A$477 million (May 2013).
A Sydney based team of experienced staffs overseeing operations, most notably, the producing Maari field offshore New Zealand, and Papua New Guinea (PRLs 4 and 21, PPLs 259, 430, 372 and 373) and assets under development in China (Block 22/12). Horizon Oil also has a significant exploration footprint in offshore New Zealand (Maari and Offshore Taranaki Basin) and is constantly on the lookout for additional opportunities.
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2013 22 April - doubles PNG acreage position 22 March - First production from Beibu Gulf, China 16 March - Added to S&P/ASX 200 Index Farmed out of PEP 51313 for full carry through drilling of Whio-1 Pre-FEED for Elevala/Ketu development in PRL 21 2012 Second successful well at WZ 6-12-A6 deviated step-out exploration well, China Oil discovery at WZ 6-12N-1 exploration/appraisal well, Beibu Gulf, China Maari field reaches 20 million barrels milestone Ketu-2 appraisal/development flowed gas on testing Execution and finalisation of US$160 million reserves based lending facility Commence drilling of Ketu-2 appraisal/development well in PNG Final Investment Decision for Stanley field development, PNG
2011 Increases acreage position (PPL 259), Western Province, PNG Commence drilling of Elevala-2 appraisal/development well in PNG 30% upgrade to Stanley field resources in PNG Successful completion of bookbuild for US$80 million convertible bond issue Acquires additional interests in Block 22/12, China Final Investment Decision for WZ6-12 and WZ12-8 West oil fields in Beibu Gulf Approval of Beibu Gulf Overall Development Plan
2010 PRL 4 spudded Maari field reaches 10 million barrel milestone Admitted to S&P/ASX 300 Index First cargo of crude oil from Maari offloaded in April |
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2008 |
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Achieves financial close on a revolving corporate debt facility with BOSI |
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Conducts successful production test of the Stanley 1 well (PRL 4 – PNG) with a view to commercialisation of the fields gas and condensate reserves |
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Maari wellhead platform successfully installed offshore New Zealand |
2007 |
Construction of the Maari wellhead platform underway |
2006 |
Achieves financial close on a project debt facility from BOSI with respect to the Maari field development |
2006 |
Wei 6-12S discovery made in Beibu Gulf (offshore China) |
2005 |
Announces FID with respect to the Maari field offshore New Zealand along with its co-venturers |
2003 |
Acquired 10% interest in PMP 38160 (Maari) |
2002 |
Name changed to Horizon Oil Limited |