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Horizon Oil Limited (ASX:HZN)

ALERT: Price-sensitive ASX Announcement for HZN
Current share price for HZN : $0.225 -0.015 (-6.25%)+
Announcement
Release
30 Apr 2026 9:33AM
Price at Release
$0.240
Full Release
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Summary
Horizon Oil Limited's Quarterly Activities Report for the period ending 31 March 2026 highlights a stable operating performance despite planned maintenance activities impacting production. The company reported net oil sales of 95,011 barrels with revenues of US$6.4 million for the quarter. Development activities progressed with several projects targeting investment decisions in late 2026. Horizon is pursuing an off-market takeover of Cue Energy Resources, aligning with strategic goals. Additionally, a commodity hedge is in place to secure cash flows, while cash reserves stood at US$59.4 million, reflecting a strong financial position amid global market disruptions.
Key Points
  • Net oil sales for the quarter totalled 95,011 bbls, generating revenue of US$6.4 million.
  • Planned full-field shutdown and maintenance activities affected production, but improvements were seen towards the end of the quarter.
  • Production revenue for Q3 FY26 was US$17.2 million, with a year-to-date total of US$71.2 million.
  • Horizon announced an off-market takeover offer for Cue Energy Resources Limited.
  • Horizon maintained a commodity hedge with 320,000 bbls of oil hedged at an average price of US$70/bbl.
  • Total capital expenditure for the quarter was US$1.5 million.
  • Cash reserves at the end of the quarter were US$59.4 million with a net cash position of US$3.3 million.
  • Development projects continued across the portfolio with investment decisions targeted for the second half of 2026.
  • Production in Thailand and Australia continued near capacity, supporting domestic energy supply.
  • Horizon Oil declared an FY26 interim dividend of AUD 1.5 cents per share.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.