Horizon Oil Ltd. Stock Analysis HZN.AX

Horizon Oil Ltd. is an oil and petroleum exploration, development and production company. The principal activities of the Company are petroleum production, development, and exploration. The company operates in three segments, which are China development, New Zealand development, and Australia development. The China development segment is involved in developing and producing crude oil from the Block 22/12 – WZ6-12, WZ12-8W and WZ12-8E oil field developments and in the exploration and evaluation of hydrocarbons within Block 22/12. The New Zealand development segment is involved in developing and producing crude oil from the Maari/Manaia oil field development. The Australia development segment is involved in developing and producing oil and gas from the Mereenie OL4 and OL5 oil and gas fields. The Block 22/12 oil development comprises nine hydrocarbon pools across three different Production Licenses. The company lies 35 kilometers (kms) southwest of Weizhou Island, China, in 30m water depth. The Maari oil field is a producing oil field.