New Analyst Searches Corporate Calendar Upcoming Dividends Upcoming Floats Stock Screener Featured Stock ASX300 News Digest Our Research Methodology
Company News Summary
Horizon Oil Provides June 2012 Quarterly Activities Report
02 Aug 2012 | 14:19:00 | Associate analysts | Increase | Decrease | 
Original announcement: 4th quarter activities report
Horizon Oil provided its June 2012 quarterly activities report, reporting production of 102,758 barrels of oil from the Maari/Manaia fields and oil sales of 117,049 barrels, generating revenue of US$13.5m. The 12% increase in Maari/Manaia production over the last quarter is due to improved pump run-time and water injection response. The company also reported that facilities for the Beibu Gulf development are 65% complete, with the offshore installation phase about to commence; participation of the Stanley field development in PRL 4 has now been confirmed by all joint venturers; and the Petroleum Development Licence application and preparation for the construction phase are both well advanced. The company had cash on hand of US$19.4m at the end of the quarter, with US$33.0m drawn down on the bank facility.
See more ASX300 News Announcements