HZN 0.00% 11.0¢ horizon oil limited

NZO bids for CUE and stake in Maari field.

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    New Zealand Oil and Gas (ASX:NZO) has launched an on-market $0.10 per share takeover offer for Cue Energy Resources (ASX:CUE). Target is the Maari development. The well is currently producing at approximately 2,000 barrels of oil per day and will gradually be ramped up to production capacity, which OMV, the field operator, estimates to be 4,500 barrels of oil per day (gross).CUE holds 5% interest HZN holds 10%.
    Yet more proof that HZN has quality assets.
 
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