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An update from Horizon Oil Limited ( (AU:HZN) ) is now available.
Cue Energy Resources has acknowledged Horizon Oil Limited’s intention to launch an off-market takeover offer for all Cue shares it does not already control, and has formed an Independent Board Committee to oversee its response. The committee has engaged legal adviser Gilbert + Tobin and financial adviser Azure Capital, reiterated that the offer is not yet open, and urged shareholders to refrain from taking action until they receive a formal Target’s Statement, which will provide recommendations and allow sufficient time for investors to consider their options before the offer period closes.
The most recent analyst rating on (AU:HZN) stock is a Buy with a A$0.30 price target. To see the full list of analyst forecasts on Horizon Oil Limited stock, see the AU:HZN Stock Forecast page.
More about Horizon Oil Limited
Cue Energy Resources Limited is an ASX-listed oil and gas production and exploration company based in Melbourne. The company generates revenue from gas and oil production across assets in Indonesia’s Mahato and Sampang PSCs, onshore Australian fields at Mereenie, Palm Valley and Dingo, and the offshore Maari field in New Zealand, reflecting a regional focus on Asia-Pacific energy markets.
Average Trading Volume: 2,002,434
Technical Sentiment Signal: Buy
Current Market Cap: A$423.2M
See more insights into HZN stock on TipRanks’ Stock Analysis page.