Who we are

Our Story

Horizon is an Australian based company, listed on the Australian stock exchange which produces approx. 4,000 bopd (net) from fields located in China and New Zealand. We have low-cost conventional oil production from joint venture interests in:

  • Block 22/12, offshore China where our partners are CNOOC Limited, Fosun International Limited (via Roc Oil Company) and Oil Australia Ltd; and
  • PMP 36180 Maari/Manaia fields, offshore New Zealand, where our partners are OMV and Cue Energy Resources Limited.

In both of our non-operated oil projects, Horizon has been a long-term partner (over 20 years in China and 17 years in New Zealand) and was a participant prior to and throughout the project appraisal and development phases, including the 2022 Block 22/12 12-8E development.

We have strong in-house corporate and technical capability, and we have a proven track record of working collaboratively with our partners to add significant value to our assets.

With a focused active management approach and a high calibre, hands‑on team, we’re committed to adding shareholder value through the maintenance and growth of resilient energy production.

Our Purpose and Strategy



Horizon is a low-cost oil producer producing ~4,000 bopd (net), highly leveraged to oil price and generating strong cashflows


Income Generating

Two producing assets: Non-operated interests in Block 22/12, Beibu Gulf, China (26.95%); Maari project, New Zealand (26%)


History of Returns

We maintain a strong balance sheet and have a history of substantial returns to shareholders


Disciplined Approach

Disciplined approach to capital management with over 70% of free cashflow returned to shareholders over the past 2 years, with remaining funds largely reinvested in low risk, high value opportunities within the Group’s conventional assets

HY24 Highlights

Maximise free

  • Net cash US$52.8 million (US$7.7 million increase over the quarter)
  • Revenue from production for the quarter US$28.9 million – aided by a record lifting in Maari which attracted a substantial premium
  • Cashflow remained robust through continued low capital expenditure, higher oil prices and strong Maari crude oil sales

Further distributions to shareholders

    • Interim dividend of AUD 1.5 cents per share (total return of ~AUD 24 million) – paid on 26 April 2024
    • Final FY23 dividend paid in October of AUD 2.0 cents per share (total return of ~AUD 32 million)
    • Over AUD 150 million (AUD 9.5 cents per share) paid out in distributions over the past three years whilst still investing in growth and fully repaying the Group’s debt facilities
    • Regular distributions continue to be a priority

    Continue investing in production growth

    • On 15 April 2024, a four-well infill drilling program  has commenced in Block 22/12
      • The four well program is forecast to recover an incremental 1.3 mmbbl gross (Horizon net 0.35 mmbbl) to the end of the contract period, with the total incremental oil rate from the four wells estimated at 2,400 bopd gross (Horizon net 600 bopd)
    • Executed a sale and purchase agreement to acquire a 25% non-operated participating interest in the OL4 and OL5 developmment licences, Northern Territory, Australia, which contained the producing Mereenie conventional oil and gas field  


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    Horizon Head Office

    Level 4, 360 Kent Street
    Sydney NSW 2000

    T: +61 2 9332 5000


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    Annual Reports

    Archive from 2005 to present

    Horizon Share Price

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    ASX Announcements

    Archive from 2006 to present

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    Quarterly and half yearly reports. Archive from 2008 to present

    Investor Presentations

    Archive from 2004 to present

    Analyst Reports

    Company Reports from expert analysts. Archive from 2018 to present

    Horizon Head Office

    Level 4, 360 Kent Street
    Sydney NSW 2000

    T: +61 2 9332 5000

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    For all share related enquiries please visit the Computershare website.


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