Oilies reap rewards from higher prices

HIGHER oil prices have propelled Horizon Oil and Pan Pacific Petroleum into the black, with both companies turning a profit for the first half of the 2012 financial year.

29 February 2012
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Horizon Oil recorded $US8.5 million ($A7.9 million) profit for the FY2012 first-half, a huge 608% improvement on last year's $1.7 million loss.

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