Notice of Webcast
Sydney, Aug 29, 2016 AEST (ABN Newswire) - Horizon Oil Limited (
ASX:HZN) (HZNFF:OTCMKTS) advises that a shareholder briefing will be held on 30 August 2016 at 11.00am (AEST) in relation to the 2016 full year financial results.
The briefing will be in the form of a live audio webcast hosted by Brent Emmett, Chief Executive Officer.
The briefing will cover information outlined in the Financial Results presentation for the year ended 30 June 2016.
To register, please copy and paste the link below into your browser:
http://www.abnnewswire.net/lnk/29H21316
About Horizon Oil Ltd
Horizon Oil Limited (ASX:HZN) (OTCMKTS:HZNFF) is an ASX-listed petroleum exploration and production company, with a geographic focus on the Asia-Pacific region. The company currently produces over 4,000 barrels of oil per day net from its fields in New Zealand and China, which generated over US$80 million in net operating income after operating expense for the year ended 30 June 2015. Further development candidates remain in and around these producing fields.
Horizon Oil maintains prudent policies of oil price hedging and loss of production insurance to ensure that sufficient cash flow is generated to meet the funding requirements of its growth program.
The company holds a large undeveloped reserves and contingent resource position in Western Province, onshore Papua New Guinea. These are liquids-rich gas resources and reflect Horizon Oil’s strategy to focus on Asian gas for growth. Gas constitute about 2/3 of the reserves and resource base. Commercialisation pathways for the gas are emerging.
Although Horizon Oil anticipates continuing strong cash generation over the medium term from its existing producing fields, these developed reserves account for only 10% of total reserves and resource base. The focus going forward will be on new field development, funded largely from existing production cash flow.
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