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Horizon Oil Limited ( (AU:HZN) ) has shared an announcement.
Horizon Oil Limited and its Mereenie Joint Venture partners have agreed with Northern Territory-owned utility Power and Water Corporation to extend the deadline for executing a binding gas sales agreement from 24 March 2026 to 1 April 2026. The short extension indicates negotiations are continuing toward a formal supply contract, which, if finalised, would help underpin gas sales from the Mereenie field and support long-term energy supply arrangements for the region.
A binding gas sales agreement with Power and Water Corporation would provide revenue visibility for Horizon and its partners, reinforcing the commercial viability of Mereenie production and strengthening their position in the Northern Territory gas market. For stakeholders, the revised timeline suggests deal terms are still being refined but remain on track, with the new target date serving as a near-term milestone for closing the transaction and clarifying future cash flows tied to the project.
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
Horizon Oil Limited is an Australia-based energy company focused on the exploration, development, and production of oil and gas resources. The company participates in joint venture projects such as the Mereenie field, supplying hydrocarbons to domestic markets, including power and utility customers in the Northern Territory.
Average Trading Volume: 2,476,831
Technical Sentiment Signal: Buy
Current Market Cap: A$423.2M
For an in-depth examination of HZN stock, go to TipRanks’ Overview page.