Past year: ▲ 5%(19.5c – 28.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 July 2024material agreement▲ Good
Central (operator, a third party) announces new Mereenie and Palm Valley gas sales to the NT Government and an amended Arafura deal. Covers the Mereenie JV, including Horizon; Horizon's own announcement gives its share. Arafura condition date moves to 31 Dec 2024.
29 July 2024material agreement● Neutral
Arafura (a third party) revises its Mereenie gas deal: 5.49 PJ in 2028, then up to 10.95 PJ across 2029-30, take-or-pay and fixed price. Condition is now Arafura's final investment decision by 31 Dec 2024, so the offtake remains uncertain.
24 June 2024material agreement▲ Good
Horizon confirms the Mereenie joint venture's 12-month South32 gas supply extension (agreed before Horizon joined) is now unconditional. It means 1.46 PJ of gas supplied to South32 in 2025, a modest support for the newly acquired 25% interest.
24 June 2024other▲ Good
Cue Energy (a third party, 7.5% Mereenie holder) says the South32 gas sale agreement has become unconditional. Repeats the Central and NZOG notices; nothing new for Horizon.
24 June 2024other▲ Good
Central Petroleum (Mereenie operator, a third party) says the South32 gas sale agreement extension has become unconditional. Relevant to Horizon as a 25% Mereenie partner; no Horizon-specific figures.
24 June 2024other▲ Good
New Zealand Oil & Gas (a third party) says the 12-month South32 Cannington gas supply extension from Mereenie is now unconditional. Duplicates Central's notice; no new Horizon information.
18 June 2024investor presentation● Neutral
Notice of the CEO's presentation to the MST Financial Oil & Gas webinar on 19 June 2024. The text provided gives no content beyond the notice; treat as administrative.
17 June 2024other● Neutral
Central Petroleum (Mereenie operator) says the condition precedent date for its Arafura gas supply agreement is extended from 30 June to 31 July 2024. Third-party notice; a minor delay on an offtake deal tied to Mereenie.
11 June 2024asset acquisition disposition▲ GoodMajor
Horizon completes the 25% Mereenie acquisition on 11 June 2024, funded by the A$42.5m Macquarie facility. Adds ~1,100 boepd and 6.4 mmboe of 2P reserves, more than doubling reserves. Third producing asset; a possible two-well drilling program later in 2024.
11 June 2024other● Neutral
New Zealand Oil & Gas (a third party) announces completion of its own additional 25% Mereenie purchase, drawing A$49.5m of its A$63m debt facility. Confirms Horizon's deal closed and Macquarie has no remaining interest. Little new for Horizon.
4 June 2024debt financing● NeutralMajor
Horizon signs a A$42.5m, five-year senior debt facility with Macquarie to fund Mereenie, at BBSW + 5% with semi-annual repayments. Security is limited to the Mereenie interest plus a parent guarantee. Drawdown awaits remaining approvals.
23 May 2024admin correction● Neutral
Notice that Computershare's Sydney office is moving to 6 Hope St, Ermington from 23 May 2024. Administrative.
27 Feb 2024investor presentation● Neutral
Half-year results presentation repeating the reported figures: profit after tax US$18.3m, net cash US$45.1m, A$1.5c interim dividend to be paid 26 April 2024. Notes Mereenie still conditional. No new information.
27 Feb 2024half year report▲ Good
Half-year to 31 Dec 2023: revenue US$66.1m (-13%), profit before tax US$26.6m (+9%), net cash US$45.1m. Interim dividend of A$1.5c (~A$24m) declared, payable April 2024, continuing the distribution run. Mereenie deal still awaiting completion.
22 Feb 2024other● Neutral
Link to a webcast of the FY24 half-year results. Administrative; no substantive content.
14 Feb 2024investor presentation● Neutral
Presentation and CEO video on the Mereenie acquisition announced the same day, restating the strategic fit and the debt-funded structure. Completion remains subject to approvals and debt documentation. No new information.
14 Feb 2024asset acquisition disposition▲ GoodMajor
Horizon agrees to buy a 25% non-operated stake in the producing Mereenie field, NT, for US$27.6m (A$42.5m) plus up to US$5.8m deferred, fully funded by Macquarie debt. Adds 6.4 mmboe of 2P reserves (~129%) and ~1,150 boepd. Answers its inorganic growth search; subject to approvals.
14 Feb 2024other● Neutral
New Zealand Oil & Gas (a third party, not Horizon) announces it is buying 25% of Mereenie for A$42.5m upfront, with Horizon buying the other 25% from Macquarie. Relevant to Horizon only as the counterpart to its own deal; no new Horizon information.
6 Dec 2023investor presentation● Neutral
Ord Minnett Emerging Energy Day presentation repeating FY23 results and strategy. Notes net cash of US$45.9m at 30 September and the final dividend paid in October. No new information.
22 Nov 2023investor presentation● Neutral
AGM chair and CEO addresses. Chair says Horizon is debt free for the first time since 2011 and is setting aside funds for Maari decommissioning. Directors Burgess and Bittar stood for re-election. Largely repeats known results; further distributions to be reviewed.
7 Sept 2023investor presentation● Neutral
Presentation to the Good Oil conference in Perth restating the portfolio and FY23 results, including A$3.5c distributions and over A$150m paid in three years. No new information.
24 Aug 2023investor presentation● Neutral
FY23 results presentation repeating the annual results: revenue US$152.1m, EBITDAX US$103.5m, net cash US$35.7m, and A$2.0c final dividend. Restates the strategy and the Maari life-extension aim. No new information.
24 Aug 2023annual report▲ GoodMajor
FY23 record year: production up 44% to 1.9 mmbbls, revenue US$152.1m, profit after tax US$43.9m (up 80%). Final dividend of A$0.02/share declared, making A$3.5c (~A$56m) for the year. Net cash US$35.7m; the remaining US$7.9m debt was repaid 31 July.
24 Aug 2023annual report● Neutral
FY23 Sustainability Report covering safety, governance, people and climate. Notes a 5-year life extension of the Raroa FPSO and the Nobrac carbon removal seed investment. No financial or operating news; the report is not independently assured.
24 Aug 2023annual report● Neutral
Corporate Governance Statement and Appendix 4G for FY23, a compliance filing signed 24 August 2023. Administrative; carries no new company information.
22 Aug 2023other● Neutral
Notice of a shareholder webcast on 24 August 2023 covering FY23 full-year results, hosted by the CEO and CFO. Administrative.
2 June 2023production update▲ Good
Cue Energy reports the repaired Maari MN1 well is producing ~800 bopd, taking field output above 5,000 bopd gross. Horizon holds 26% of Maari. The well had been offline since May 2022.
16 Mar 2023investor presentation● Neutral
Presentation for an OTCQB virtual investor conference. It restates known facts: ~5,000 bopd net, net cash over US$25m, and the 1.5 cent interim dividend payable in April. No new information.
3 Mar 2023other● Neutral
S&P Dow Jones index rebalance notice. Horizon is listed among additions to the All Ordinaries index from 20 March 2023. Otherwise a general index list with no company-issued news.
23 Feb 2023half year report▲ GoodMajor
Half-year to December 2022: revenue US$75.7m (up 93%), EBITDAX US$52.2m, and an interim unfranked dividend of 1.5 cents per share (~A$24m) declared. Also notes a ~US$1.35m seed investment in carbon credit developer Nobrac.
