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Horizon Oil Limited ( (AU:HZN) ) has provided an update.
Horizon Oil Limited has completed the acquisition of a 7.5% interest in the Sinphuhorm gas field and a 60% interest in the Nam Phong gas field in Thailand, adding approximately 2,100 barrels of oil equivalent per day to its production. This acquisition, executed through a consortium with Matahio Energy, positions Horizon for growth in Thailand and Southeast Asia, offering stable cash flow and potential for further development, while maintaining a low-cost platform and limited abandonment obligations.
More about Horizon Oil Limited
Horizon Oil Limited is an energy company operating in the oil and gas industry, focusing on exploration, development, and production of hydrocarbons. The company primarily engages in the production of conventional gas and condensate, with a strategic market focus on Southeast Asia.
Average Trading Volume: 1,351,497
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$333.2M
For detailed information about HZN stock, go to TipRanks’ Stock Analysis page.