This article is 22 years old. Images might not display.
The Sydney-based firm said it is banking on some serious appraisal work on its Beibu Gulf discovery (30%) in the South China Sea and the Maari field (10%) in the offshore Taranaki Basin in the coming months.
FEED engineering studies for the Maari field are expected to commence towards the end of the year while two firm wells and two possible wells are being planned for around the same time to appraise the Beibu find.
During the quarter, Horizon said it sold all of its onshore New Zealand acreage for around $900,000. This brings to a total of five Horizon entities that have been wound up, reducing Horizon's corporate costs considerably, the company said.
