Past year: ▲ 5%(19.5c – 28.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Aug 2026resource reserve update▲ GoodMajor
Horizon's net 2P reserves rose 51% to 13.6 MMboe at 30 June 2026 (from 9.0), mainly from the Thailand and Cue acquisitions, replacing about 200% of 2.1 MMboe production. 2C resources rose to 19.8 MMboe; 2U prospective rose to 14.3 MMboe (unrisked).
28 July 2025resource reserve update▼ BadMajor
At 30 June 2025, 2P reserves fell 9% to 9.0 MMboe from 9.9, as production of 1.6 MMboe outweighed a +0.8 Maari life-extension gain. 2C resources fell 8% to 12.3 MMboe. The Thai acquisition's 3.9 MMboe 2P is excluded until completion.
16 June 2025drilling result▲ Good
The A9H infill well in Block 22/12 (Horizon 26.95%) is producing, initially from an unexpected shallower reservoir at 372 bopd gross (100 net). Reserves to be booked at the pre-drill 0.4 mmbbl gross (0.1 net). Result matches the forecast made at spud.
28 Apr 2025drilling spud▲ Good
A one-well infill campaign spudded 28 April 2025 in Block 22/12, China (Horizon 26.95%), taking about 30 days. Forecast 0.4 mmbbl gross (0.1 net), ~500 bopd gross (125 net); funded from existing cash. Follows earlier infill wells.
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.
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.
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.
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%.
9 Feb 2023resource reserve update▲ GoodMajor
WZ12-8E 2P developed recovery (before production) rose over 150% to 4.89 mmbbl gross (1.24 net), up from 1.95 (0.49 net). After 1.20 mmbbl gross produced, reserves at 31 Dec 2022 are 3.69 gross (0.91 net). Delivers the reclassification flagged earlier.
17 Jan 2023drilling result▲ GoodMajor
All four WZ12-8E Phase 2 wells are producing and the rig is released, ending the 10-month Block 22/12 campaign. Block output was 19,803 bopd gross (5,337 net) on 9 Jan 2023, up 4,466 bopd gross from 24 Oct 2022; WZ12-8E expected to peak in January.
28 Oct 2022drilling result▲ GoodMajor
Two WZ6-12 infill wells drilled; A10S1 was flowing 1,369 bopd gross (369 net) at 56% water-cut, finding an unexpected extra oil reservoir, and A12S1 is due online soon. Block output 15,337 bopd gross. The rig is moving to start WZ12-8E Phase 2 (at least three wells). Phase 1 output has fallen to 5,753 bopd gross.
29 Sept 2022drilling scheduled▲ GoodMajor
JV approves WZ12-8E Phase 2: three to five more wells, with three wells expected to add 0.75 mmbbl gross (0.20 net) of reserves. Net cost about US$7.5m from cash. Separately, the M3 appraisal well found no commercial hydrocarbons and was sidetracked to an M1 infill that hit oil.
9 Sept 2022drilling progress report▲ Good
WZ6-12 five-well workover finished, adding 1,568 bopd gross (423 net) to reach 2,432 bopd gross. M3 appraisal well spudded 2 September, and the JV agreed an extra WZ6-12 North infill well. Block output 15,628 bopd gross.
3 Aug 2022drilling scheduled▲ Good
Workover and drilling programme starts at WZ6-12 in Block 22/12: five well workovers plus the M3 appraisal well, with a possible North infill well. CNOOC operates; expected to finish around end of September.
27 July 2022drilling result▼ BadMajor
A8 exploration well found only two minor oil columns (3.6 m and 2.0 m) in Tertiary sandstones; the basement target had no hydrocarbons. Plugged and abandoned, freeing a platform slot for possible Phase 2 well. Effectively a disappointing result.
8 July 2022drilling spud● NeutralMajor
Exploration well WZ12-8E A8 started drilling 6 July from the new platform, targeting 5.1 mmbbl gross prospective resource (1.4 mmbbl net) to about 1,260 m. Horizon holds 55%, with a dry-hole cost of about US$4.0m net.
11 Dec 2020drilling spud▲ GoodMajor
Drilling began on two infill wells at the WZ6-12 platform in Beibu Gulf, one into the WZ6-12 M1 discovery. They are expected to add about 1,900 bopd gross. Horizon's 26.95% share of cost is US$5m, with 2P reserves of 0.3 and 0.2 mmbbl net.
8 Nov 2019drilling result▲ GoodMajor
WZ 6-12 M1 reached 2025 m with oil columns indicated in four sands, supported by logs and pressure data; no production test planned. Horizon holds 26.95%. Development is intended to tie into the WZ 6-12 North and South fields, subject to further evaluation.
28 Oct 2019drilling spud● Neutral
CNOOC spudded the WZ 6-12 M1 exploration well in Beibu Gulf on 25 October 2019, testing the undeveloped WZ 6-12 Mid prospect to 2025 m, with about 17 days planned. Horizon holds 26.95% in the block. A discovery could be tied into the adjacent WZ 6-12 fields.
28 Aug 2019resource reserve update▲ GoodMajor
At 30 June 2019, 2P oil reserves are 8.8 mmbbl (from 8.9) after 2.1 mmbbl of upward revisions offset production. 2C is 26.7 mmbbl liquids and 599 bcf gas; WZ 12-8E contingent oil fell 1 mmbbl on reassessment. PRL 40 swap completed 30 April 2019.
23 Aug 2018resource reserve update▲ GoodMajor
At 30 June 2018, 2P oil reserves rose 1 mmbbl to 8.9 mmbbl, helped by Maari moving from 10% to 26% (+3.1 mmbbl). Oil/condensate contingent resources fell 1.9 mmbbl to 27 mmbbl; PNG contingent sales gas rose 49 PJ to 505 PJ.
31 May 2018farm in farm out completion▲ GoodMajor
Horizon completed the purchase of Todd's 16% of Maari/Manaia, lifting its interest from 10% to 26%. Completion payment was US$16.8m after adjustments, about US$13.1m net, funded from cash. Maari 2P reserves rise to 5.0 mmbbl. Resolves the pending acquisition.
29 Aug 2017resource reserve update● NeutralMajor
At 30 June 2017, 2P oil reserves fell to 7.9 mmbbl from 9.0 mmbbl, mostly from 1.1 mmbbl produced. 2C oil and condensate rose 4.5 mmbbl to 28.9 mmbbl, mainly from the Manaia Moki field in New Zealand. 2C gas unchanged at 497 bcf.
