Horizon Oil

[Augustus]

Anyone else follow this aussie explorer? Has 10% of Maari in NZ & some interesting acreage in China and USA. There could be interesting news out of this co over the next six months.

[clearasmud]

Made money on these but my adviser thinks they're overpriced.

[Augustus]

He may/may not be right? What I currently like about HZN is that it is starting to produce oil from the Bayou workovers and the level of production will increase as the workovers & new drilling proceeds this year. The bulk of junior oilers produce nothing so HZN at least will be benefitting from the current oil prices.

The Maari & China exposure looks promising.

[JoeKing]

Is anyone else following the fortunes of this 10 bagger in the making?

[bermuda]

Yes,this one is on my radar having recommended it to a mate who was delighted with a rise from 13 cents to 18 cents.But since then its been a downhill slide but at 11 cents it has a lot of value which will unfold over the next year.They missed out on a promising drill earlier this year and the Bayou work overs struck a little bit of legal troubles I think.But it all looks upward from here on.

[lambton]

quote:Originally posted by JoeKing

Is anyone else following the fortunes of this 10 bagger in the making?

Yep I'm there, but a prospective 10 bagger? Not so sure about that.

[JoeKing]

OK maybe not a 10B yet but this Co. but must surely have a great future.
Already cashflow positive choctaw, 10% Maari all go,
some good prospect sites China and a board that obviously has SH interests at heart. Cannot understand why there is not more interest in this forum. Guess we'll have to wait till black stuff starts aflowin...

[Mick100]

Not really up on the play with this one but I would like to ask - where are they going to get the money from to develope the buibu gulf feild (30%) as well as Maari (10%) over the next two yrs.I think these guys are in over their heads.
You have to learn how to walk before you can run.

disc. sold out earlier this yr
,

[Krustytheclown]

Yes they look very interesting.....but is the recent dip in the SP a prelude to a rights issue???

I am sure they will do very well with whats on their plate but like all mini oilers-cash is required.

I would not buy until this is obtained or debt funding is locked down.

All the best to holders

G.

[lambton]

quote:Originally posted by Mick100

Not really up on the play with this one but I would like to ask - where are they going to get the money from to develope the buibu gulf feild (30%) as well as Maari (10%) over the next two yrs.I think these guys are in over their heads.
You have to learn how to walk before you can run.

disc. sold out earlier this yr
,

Recent announcement suggests most of the capital required to do Maari will be debt funded. Have arranged facility thru Bank of Scotland from memory. Coy says only a small amount of equity will be required sometime in 2006.