Horizon Oil Limited ("Horizon Oil") and the Board are committed to achieving and demonstrating the high standards of corporate governance taking into account the Company's size and operations.
A review of the Company’s corporate governance framework was undertaken in light of the best practice recommendations ("Recommendations") released by the Australian Stock Exchange Corporate Governance Council in March 2003. The Company’s policies and procedures were largely consistent with the recommendations, taking into account its size and operations. The Company undertook a program to incorporate the best practice recommendations in its policies and procedures where, given the Company size and type, it was appropriate and practical to do so. Accordingly a few enhancements to documentated Corporate Governance practices and procedures were made as a result of this review and other recent governance developments, including the introduction of Remuneration and Nomination Committees during the year.
Horizon Oil has posted copies of its key Corporate Governance Practices onto the website. These can be viewed by clicking on the links below. The following Corporate Governance materials refer to ancillary, procedural documents which are not posted on the website but may be obtained by email, on request.