HZN 4.00% 12.0¢ horizon oil limited

The sinking turd

  1. 1,956 Posts.
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    Periscopes down. All I can hope is that this SP behaviour is the precursor to a takeover from OSH (as per AUT - same thing, uncanny shorting prior to takeover by Baytex). OSH will then get the $130m milestone from Osaka (as the HZN PRL 21 gas can be sold through PNG LNG T3) to pay off HZN debt. I think OSH is the only company in that position - in terms of being able to put the gas through a brownfield expansion.

    The bad thing for us is that a premium of say 40% on VWAP (where VWAP is headed) is only about 18c. Premium of 20% on VWAP would be 14-15c.

    You would think OSH would then hoover up Talisman/Repsol's interests and the game would be over.

    The HZN management would likely be out of jobs, and probably find it hard to be re-employed in the industry based on the HZN debacle (except perhaps overseas), but will have plenty of stock to cash in.

    Rise turd, rise! float to the surface!
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