Past year: ▲ 5%(19.5c – 28.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Feb 2025half year report● NeutralMajor
Half-year to December 2024: revenue US$55.8m (down 16%), EBITDAX US$29.4m, profit before tax US$11.2m, net cash US$22.5m. Horizon declares a 1.5c interim dividend (A$24.4m), payable April 2025, taking four-year distributions above A$224m.
25 Feb 2025other● Neutral
Notice of a shareholder webcast on 27 February 2025 at 11.00am AEDT about the half-year results, hosted by the CEO and CFO. Administrative only.
19 Feb 2025drilling result▲ Good
Echelon (a third party, 42.5% Mereenie holder) repeats that WM-30 is drilled and awaiting tie-in, with the rig released. WM-29 is stable at about 5 TJ/d and WM-30 is expected at or above 3 TJ/d. Duplicates the operator's news.
19 Feb 2025drilling result▲ Good
Re-release of Central's (operator, a third party) notice: WM30 reached 1,620 m, rig released 19 February 2025, tie-in due early March. WM29 is stable at about 5 TJ/d. Duplicates the previous announcement.
19 Feb 2025drilling result▲ Good
Central (operator, a third party) says WM30 reached 1,620 m total depth and the rig was released on 19 February 2025, with tie-in expected in early March. WM29 has stabilised at about 5 TJ/d. The program is forecast under budget.
3 Feb 2025joint venture update● Neutral
The condition date for the conditional Arafura gas supply agreement, due 4 February 2025, is extended to 31 March 2025. The Arafura deal therefore stays conditional, and this is the second extension after the one from 31 December 2024.
22 Jan 2025flow test result▲ Good
Cue (a third party, 7.5% Mereenie holder) reports WM29 began gas sales on 20 January 2025, testing about 7 TJ/d (100% JV) and limited to 6 TJ/d by equipment. This repeats the operator's result; WM30 is drilling at about 585 mMD.
22 Jan 2025flow test result▲ Good
Echelon (a third party, 42.5% Mereenie holder) repeats that WM-29 began sales on 20 January 2025, testing about 7 TJ/d and choked to 6 TJ/d, double pre-drill expectations. It says field output is back at the 30 TJ/d target. Duplicates the operator's result.
22 Jan 2025flow test result▲ GoodMajor
Central (operator, a third party) says WM29 began flowing to sales on 20 January 2025 and tested at about 7 TJ/d (100% JV), double the 3 TJ/d pre-drill expectation. Output is capped at 6 TJ/d. WM30 is due online in early March. This resolves the awaited flow rate.
16 Jan 2025drilling progress report● Neutral
Cue (a third party, 7.5% Mereenie holder) repeats the operator's news that WM29 is completed and awaiting tie-in by late January, and WM30 spudded 16 January 2025. Duplicates earlier notices; nothing new for Horizon.
16 Jan 2025drilling progress report● Neutral
Echelon (a third party, 42.5% Mereenie holder) repeats that WM-29 is completed and awaiting tie-in in late January, with WM-30 spudded 16 January 2025. It expects both wells online in Q1 2025. Largely duplicates earlier notices.
16 Jan 2025drilling progress report▲ Good
Central (operator, a third party) says WM29 was air-drilled and completed across the Pacoota-3 sandstones and is expected to be tied in by late January, ahead of plan because of NT gas shortages. WM30 spudded 16 January 2025. Initial flow rates are not yet reported.
16 Jan 2025drilling progress report▲ Good
Horizon reports WM29 completed, reaching 1,326.3 m TVDRT through the Pacoota-3 target, with tie-in expected toward the end of January. WM30 spudded 16 January 2025. No flow rates are given yet, so the result is still to come.
20 Dec 2024joint venture update● Neutral
Echelon (a third party, 42.5% Mereenie holder) says the Arafura gas deal's condition date has been moved from 31 December 2024 to 4 February 2025. Duplicates the operator's notice.
20 Dec 2024joint venture update● Neutral
Horizon confirms the Arafura gas deal's condition date has been extended from 31 December 2024 to 4 February 2025. The offtake stays conditional, so the earlier year-end deadline in the history is delayed rather than resolved.
20 Dec 2024joint venture update● Neutral
Arafura (a third party) confirms the condition date under its Mereenie gas deal moves from 31 December 2024 to 4 February 2025. Same extension already reported by Horizon and its partners.
19 Dec 2024joint venture update● Neutral
Central (operator, a third party) says the Arafura gas deal's condition date moves from 31 December 2024 to 4 February 2025. The Arafura deal, which starts in 2028, therefore stays conditional for another five weeks.
5 Dec 2024drilling spud● Neutral
Echelon (a third party, 42.5% Mereenie holder) reports WM-29 spudded on 5 December 2024, with each well taking about 30 days. Target depths are about 1,450 and 1,681 mMD. Duplicates the operator's and Horizon's notices; nothing new for Horizon.
5 Dec 2024drilling spud▲ GoodMajor
Horizon says drilling began at Mereenie, with West Mereenie-29 spudded on 5 December 2024 in a two-well campaign expected to take two to three months. Horizon holds 25% and funds its share from cash. Wells could add up to 6 TJ/d gross for the NT Government gas deal.
5 Dec 2024drilling spud▲ Good
Central, the Mereenie operator (a third party), says the first development well, WM29, spudded on 5 December 2024. The two wells are expected to restore field capacity above 30 TJ/d (100% JV) and produce at least 25 PJ over their lifetime. Duplicates Horizon's own notice.
20 Nov 2024director officer appointment● NeutralMajor
Bruce Clement, a director since 2020, becomes Chairman after Mike Harding retired at the close of the 20 November AGM, as announced in August. Former CEO of AWE and Roc Oil, with over 40 years of oil and gas experience.
20 Nov 2024other▲ Good
AGM addresses and presentation. Retiring Chairman Mike Harding says distributions now exceed A$200m and at least 3c per share has been paid for four consecutive years. CEO Richard Beament reviews strategy and the Mereenie acquisition. Largely repeats known facts.
12 Sept 2024director officer appointment● Neutral
Dr Peter Goode formally joins the board as an independent non-executive director from 12 September 2024, earlier than the 1 September date previously flagged. He will chair the Risk Management Committee and stands for election at the 20 November AGM. Bruce Clement becomes Chairman after the AGM.
28 Aug 2024annual report● Neutral
FY24 Corporate Governance Statement and Appendix 4G, approved by the Board on 20 August 2024. Describes board responsibilities, appointment terms and diversity policy. Administrative; no new financial or operational information.
28 Aug 2024investor presentation▲ Good
FY24 results presentation repeating known figures: profit before tax US$39.2m, EBITDAX US$71.5m, net cash US$26.2m and a final dividend of A$1.5c, paid October 2024. Adds free cash flow of over US$54m. Mostly repeats the results already announced.
28 Aug 2024annual report▲ GoodMajor
FY24: profit before tax US$39.2m, EBITDAX US$71.5m, revenue US$111.5m, with 2P reserves more than doubling after Mereenie. Final dividend of A$1.5c declared, making A$3.0c (~A$48m) for the year. Net cash US$26.2m.
28 Aug 2024annual report● Neutral
FY24 sustainability report covering environment, safety and community performance. Mentions the Mereenie acquisition and helium study, and the Re-Vi (formerly Nobrac) biochar project reaching production. Nothing that changes the financial story.
26 Aug 2024director officer appointment● NeutralMajor
Chairman Mike Harding will retire at the November 2024 AGM after almost 6 years; director Bruce Clement succeeds him. Dr Peter Goode joins the board from 1 September 2024. Director Sandra Birkensleigh plans to retire in 2025.
15 Aug 2024drilling scheduled▲ GoodMajor
Mereenie JV approves drilling two development wells (West Mereenie 29 and 30), about 30 days each, starting around end-2024, with gas expected in the first half of 2025. Aims to lift capacity from 27 to above 30 TJ/d. Follows the NT gas deal; Horizon holds 25%.
29 July 2024material agreement▲ GoodMajor
The Mereenie JV signs a six-year (2025-2030) firm, take-or-pay gas deal with the NT Government, up to 8.3 PJ net to Horizon, and shortens the Arafura deal to 4.1 PJ from 2028. Contracts most producing gas to 2030 and supports two infill wells.
