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The latest announcement is out from Horizon Oil Limited ( (AU:HZN) ).
Horizon Oil Limited has commenced a 2025 infill drilling operation in Block 22/12, Beibu Gulf, China, with a COSL-owned rig mobilized for a one-well campaign. This operation aims to recover incremental oil from an existing field, with an estimated recovery of 0.4 million barrels gross, of which Horizon’s net share is 0.1 million barrels. The project, operated by CNOOC, is expected to enhance production growth and will be funded from Horizon’s existing cash reserves, reflecting the company’s commitment to expanding its production capabilities.
More about Horizon Oil Limited
Horizon Oil Limited operates in the energy sector, focusing on oil exploration and production. The company is engaged in developing and expanding its oil reserves, particularly in offshore regions such as the Beibu Gulf in China.
YTD Price Performance: 40.0%
Average Trading Volume: 27,758
Technical Sentiment Signal: Sell
Current Market Cap: $191.9M
For an in-depth examination of HZN stock, go to TipRanks’ Stock Analysis page.