Horizon Oil Ltd (ASX:HZN) CEO Presentation at PNG Petroleum and Energy Summit

Developing Western Province Gas

Horizon Oil Ltd (ASX:HZN) (OTCMKTS:HZNFF) is pleased to provide the Company's latest CEO presentation at PNG Petroleum and Energy Summit titled "Developing Western Province Gas".

Presentation outline

- Western Province hydrocarbon accumulations - where are they located?

- Who are the players?

- Gas commercialisation opportunities

- Development alternatives

o Western LNG (WLNG)
o Western Pipeline

- The size of the prize

- Key success factors

Horizon Oil's strategy

- Mature the Western LNG (Daru) alternative as the stand-alone base case - this is a sound concept and is within the gift of Horizon Oil, Repsol and their joint venture partners to deliver

- At the same fully engage with Kumul to support planning of the Western Pipeline (Kopi - Caution Bay) alternative - this is an attractive initiative by Kumul, involving participation by parties in addition to the Horizon Oil / Repsol (BME:REP) (OTCMKTS:REPYY) joint ventures to succeed

- Make selection of go ahead development scheme based on timeframe, viability, financial and technical risk, as well as consideration of overall stakeholder benefits

Key success factors (collaboration, cooperation and Government leadership are key)

- Collaboration between Western Foreland gas licence holders to enable gas aggregation for either Western LNG (Daru) or Western Pipeline (Port Moresby) - this is underway with formation in 2016 of a Joint Working Team (JWT), led by Horizon Oil and Repsol

- Decision to aggregate P'nyang and Western Foreland gas may be critical to underpin export to Port Moresby via Western Pipeline, depending on configuration of pipeline downstream of Kopi

- Success by Kumul in executing and financing Western Pipeline and securing offtakers for the gas

- Government support in coordinating gas aggregation across multiple licences with different licence obligations (especially in light of current challenging market conditions) - this is already evident both from the Minister and the DPE

- Cooperation between all petroleum project participants in optimising use of in-country infrastructure and facilities

- Instigation of Government policy to mandate use of PNG gas on a commercial basis for mining, industrial and domestic power supply, rather than imported liquid fuel or coal

To view the presentation, please visit:
http://abnnewswire.net/lnk/3B2483LL


About Horizon Oil Ltd

Horizon Oil Limited (ASX:HZN) (OTCMKTS:HZNFF) is an ASX-listed oil and gas exploration, development and production company, incorporated and domiciled in Australia.

Horizon Oil portfolio is comprised of petroleum interests in China, New Zealand and Papua New Guinea.

The producing assets in the Beibu Gulf of China (Block 22/12) and the Maari/Manaia Fields offshore New Zealand (PMP 38160) generate stable and significant cash flow which will continue at current levels into the next decade.

Horizon Oil also has a substantial acreage holding of some 8,000 sq km in the forelands of Western Province of PNG, which includes the Stanley field (PDL 10), the Elevala/Tingu and Ketu fields (PRL 21) and the Ubuntu field (PRL 28). These fields contain material, appraised and independently certified gas-condensate resources and the company is currently working with its joint venture partners to aggregate these resources for a planned 1.5 million tonnes per annum LNG scheme, called Western LNG (WLNG).

   

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