Company Overview

About Horizon Oil

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 1,126 million shares on issue and a market capitalisation of around A$383 million (Nov 2009).

A Sydney based team of 6 experienced staff oversee operations, most notably, the producing Maari field offshore New Zealand, and Papua New Guinea (PRL 4 and PRL 5) and assets under development in China (Block 22/12), .  Horizon Oil also has a significant exploration footprint in offshore New Zealand (Maari and Matariki) and is constantly on the lookout for additional opportunities.

Timeline:

2009

First cargo of crude oil from Maari offloaded in April

2008

Announces farmin into PEP 38494 - Matariki (subsequent modifications to licensing terms have absorbed PEP 38494 into PEP 51313 and has agreed to farm-in to this permit for a 30% stake)

2008

Achieves financial close on a revolving corporate debt facility with BOSI

2008

Conducts successful production test of the Stanley 1 well (PRL 4 – PNG) with a view to commercialisation of the fields gas and condensate reserves

2008

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’

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