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Horizon Oil Limited ( (AU:HZN) ) just unveiled an announcement.
Horizon Oil Limited has announced that the Maari Joint Venture has received a ten-year extension for the PMP 38160 permit from New Zealand Petroleum & Minerals, extending its term to December 2037. This extension allows the joint venture to continue economic production, explore production enhancement opportunities, and plan for the project’s decommissioning. The extension is seen as a significant milestone, providing stability and certainty for stakeholders amidst increased focus on energy security in New Zealand. Recent production increases at the Maari oilfield underscore the value of the extension, aligning with recent legislative changes aimed at boosting sector investment.
More about Horizon Oil Limited
Horizon Oil Limited is an energy company involved in the exploration, development, and production of oil and gas. The company operates primarily in the Asia-Pacific region, focusing on maximizing value from mature assets and ensuring compliance with environmental and regulatory standards.
Average Trading Volume: 1,273,753
Technical Sentiment Signal: Buy
Current Market Cap: A$333.2M
Learn more about HZN stock on TipRanks’ Stock Analysis page.