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.

Oilies reap rewards from higher prices 
Oilies reap rewards from higher prices 
Oilies reap rewards from higher prices 
Oilies reap rewards from higher prices 
Oilies reap rewards from higher prices

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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