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Horizon Oil Limited
(OTC:HZN)
Horizon Oil Limited (HZN) vs. iShares MSCI Australia ETF (EWA)
Horizon Oil Limited Business Overview & Revenue Model
Horizon Oil Limited Financial Statement Overview
| Breakdown | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 111.60M | 148.65M | 106.76M | 70.58M | 77.46M |
| Gross Profit | 55.19M | 66.77M | 50.73M | 20.52M | 19.36M |
| EBITDA | 42.30M | 147.95M | 99.56M | 39.57M | 42.02M |
| Net Income | 25.90M | 43.85M | 24.33M | 4.51M | -56.99M |
Balance Sheet | |||||
| Total Assets | 205.28M | 184.64M | 183.50M | 186.92M | 172.95M |
| Cash, Cash Equivalents and Short-Term Investments | 52.57M | 43.49M | 44.08M | 44.44M | 26.09M |
| Total Debt | 25.86M | 8.21M | 1.23M | 12.42M | 24.96M |
| Total Liabilities | 122.03M | 89.08M | 84.29M | 76.64M | 89.57M |
| Stockholders Equity | 83.24M | 95.55M | 99.21M | 110.28M | 83.38M |
Cash Flow | |||||
| Free Cash Flow | 54.52M | 40.50M | 44.07M | 16.15M | 29.64M |
| Operating Cash Flow | 64.22M | 71.05M | 53.97M | 23.31M | 37.97M |
| Investing Cash Flow | -36.01M | -31.88M | ― | ― | ― |
| Financing Cash Flow | -19.22M | -39.81M | -44.40M | ― | -25.05M |
Horizon Oil Limited Technical Analysis
Horizon Oil Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | AU$325.06M | 15.04 | 17.20% | 23.14% | -28.47% | -67.00% | |
52 Neutral | C$2.91B | -0.88 | -3.26% | 6.37% | 2.20% | -43.43% | |
47 Neutral | AU$173.48M | ― | -3.68% | ― | ― | 72.09% | |
| $122.84M | 13.42 | 3.89% | ― | ― | ― | ||
| $177.40M | ― | -16.84% | ― | ― | ― | ||
| $51.93M | ― | 0.75% | ― | ― | |||
35 Underperform | AU$377.64M | ― | -10.88% | ― | ― | 56.73% |
Horizon Oil Limited Corporate Events
Horizon Oil Limited has finalized an amendment to its senior debt facility agreement with Macquarie Bank to finance its acquisition of interests in the Sinphuhorm and Nam Phong gas fields in Thailand. This transaction, conducted through a consortium with Matahio Energy, is expected to add approximately 2,000 boe/d to Horizon’s production and significantly reduce the cash consideration required. The amended debt facility provides Horizon with increased financial flexibility and liquidity, supporting further development of its resources and enhancing its industry positioning.
Horizon Oil Limited has successfully commenced production from the A9H infill well in the WZ12-8 Mid field, located in Block 22/12 in the Beibu Gulf, China. This development marks a significant achievement for the company as it not only targets unswept oil in the primary U4 reservoir but also unexpectedly tapped into the shallower U1 reservoir, potentially increasing oil recovery. The initial production from the U1 reservoir is promising, with a gross flow rate of 372 barrels of oil per day, and the company plans to book reserves consistent with pre-drill estimates. This advancement underscores Horizon’s strategic efforts to enhance production capabilities and optimize resource recovery within the joint venture framework.
Horizon Oil Limited has announced the appointment of Catherine Costello as a new director, effective from June 1, 2025. This appointment is part of the company’s ongoing efforts to strengthen its leadership team, although currently, Catherine Costello does not hold any relevant interests in the company’s securities.
Horizon Oil Limited has appointed Catherine Costello as an independent non-executive director, effective June 1, 2025, as part of a planned board refresh. Costello, who brings over 25 years of experience in the resources industry, will replace Sandra Birkensleigh as Chair of the Audit Committee following Birkensleigh’s retirement later in 2025. This transition aims to ensure continuity and strengthen the board’s financial expertise.
Horizon Oil Limited has announced a change in the interests of its substantial holder, Spheria Asset Management Pty Ltd. As of May 28, 2025, Spheria’s voting power in Horizon Oil has decreased from 6.70% to 5.66%, reflecting a reduction in their holding of ordinary fully paid shares. This change may impact Horizon Oil’s shareholder dynamics and could have implications for its corporate governance and decision-making processes.
Horizon Oil Limited reported steady production and financial performance for the quarter ending 31 March 2025. The company paid an interim dividend and maintained robust cash reserves, supported by successful infill drilling at Mereenie and strategic acquisition of gas fields in Thailand. This acquisition marks a significant re-entry into the Thai market, expected to enhance production and provide stable cash flow. The company’s balance sheet remains strong, with continued investment in asset growth and shareholder returns.
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.
Cue Energy Resources Limited announced that the conditional gas supply agreement for Arafura’s Nolans rare earths project has lapsed due to unmet conditions. The Mereenie Joint Venture, in which Cue holds a 7.5% interest, will now market the gas production volume to other customers in the Northern Territory and East Coast, potentially impacting future revenue streams and market positioning.
Echelon Resources Limited announced that its conditional Gas Sales Agreement with Arafura Rare Earths has lapsed due to unmet conditions. The company, part of the Mereenie Joint Venture, plans to re-market the gas while maintaining a positive relationship with Arafura. This decision reflects a strategic shift to ensure production and development certainty, potentially impacting stakeholders by redirecting focus and resources.
Horizon Oil Limited announced that the gas supply agreement for Arafura’s Nolans rare earths project has lapsed due to unmet conditions. As a result, Horizon and its Mereenie joint venture partners will re-market the gas production, initially intended for the Nolans project, to other customers in the Northern Territory and the East Coast, starting in 2028.
Central Petroleum Limited announced that its gas supply agreement for Arafura’s Nolan’s rare earth project has lapsed due to unmet conditions, prompting the company and its Mereenie joint venture partners to re-market the gas for sale starting in 2028. This decision underscores the critical need for reliable long-term gas supplies in the NT and east coast markets, highlighting Central Petroleum’s position as a key player in providing firm gas backed by proven reserves, which is crucial for funding and developing major capital projects.
Horizon Oil Limited has implemented a hedging strategy to manage the impact of oil price volatility on its cash flows. The company has secured 180,000 barrels of dated Brent swaps at an average price of US$71 per barrel, covering oil liftings from May to December 2025. Additionally, Horizon’s Mereenie gas production is largely protected from price fluctuations due to fixed-price contracts, ensuring stability in its revenue streams.