Horizon Oil Limited · ASX:HZN
Horizon Oil — Merger or Acquisition (August 2025)
20 slides from Horizon Oil's merger presentation, Aug 1, 2025
Slide 1: Completion of Thailand Acquisition - Presentation
Level 4, 360 Kent Street P +61 2 9332 5000 Sydney NSW 2000 F +61 2 9332 5050 Australia horizonoil.com.au 1 August 2025 COMPLETION OF THAILAND ACQUISTION - PRESENTATION The Manager Company Announcements ASX Limited Following this morning’s announcement of Horizon’s acquisition of an effective Exchang
Slide 2: Acquisition of 7.5% of Sinphuhorm and 60% of Nam Phong Gas Fields, Onshore Thailand
INTEREST ACQUISITION OF 7.5% OF SINPHUHORM AND 60% OF NAM PHONG GAS FIELDS, ONSHORE THAILAND AUGUST 2025 ACQUISITION OF 7.5% SINPHUHORM AND 60% NAM PHONG GAS FIELDS NAM PHONG GAS PROCESSING PLANT
Slide 3: Compliance Statement & Important Information
COMPLIANCE STATEMENT & IMPORTANT INFORMATION ● Statements contained in this material, particularly those regarding the possible or assumed future performance, costs, dividends, returns, production levels or rates, prices, reserves, potential growth of Horizon Oil Limited, industry growth or other tr
Slide 4: Investment Thesis
INVESTMENT THESIS A COMPELLING ACQUISITION WHICH REQUIRED MINIMAL CAPITAL TO GAIN ACCESS TO A LOW-RISK SUITE OF GAS PRODUCING ASSETS, OFFERING ATTRACTIVE RETURNS AND RAPID PAYBACK WITH UPSIDE ● Acquired a 7.5% interest in the Sinphuhorm gas field and 60% interest in the Nam Phong gas field, onshore
Slide 5: Sinphuhorm & Nam Phong Transaction Summary
SINPHUHORM & NAM PHONG TRANSACTION SUMMARY A COMPELLING ACQUISITION WHICH REQUIRED MINIMAL CAPITAL TO GAIN ACCESS TO A LOW-RISK SUITE OF GAS PRODUCING ASSETS, OFFERING ATTRACTIVE RETURNS AND RAPID PAYBACK WITH UPSIDE Acquisition of 3.9 mmboe of 2P Reserves as at an effective date of 1 January 2025 a
Slide 6: Completion Funding
COMPLETION FUNDING SUBSTANTIALLY DEBT FUNDED - DUE TO THE EFFECTIVE DATE OF 1 JANUARY 2025 AND DEBT FUNDING, THE IMPACT ON HORIZON’S EXISTING CASH RESERVES ON COMPLETION WAS LESS THAN US$0.5 MILLION Net to Horizon (US$ millions) Initial Cash Consideration 30.0 Less: Deposit paid in March (1.5) Less:
Slide 7: The Assets – Sinphuhorm (SPH): Field and Reserves
THE ASSETS – SINPHUHORM (SPH) FIELD AND RESERVES LEGEND Well TD ● Discovered 1983, production began 2006 Top reservoir ● N-S trending anticline. Permian fractured carbonate Pha Nok Khao (PNK) formation Well pad Block boundary ● Eleven currently producing wells, drilled from three pads. Pressure conn
Slide 8: The Assets – Sinphuhorm (SPH): Facility and Gas Contracting
THE ASSETS – SINPHUHORM (SPH) FACILITY AND GAS CONTRACTING ● Plant capacity of 140 MMscf/d with condensate stabilisation. Field gas Booster Compressor commissioned H2 2024 ● Simple design with high reliability, uptime and performance, and a long track record of safe ops ● Operating costs are very lo
Slide 9: The Assets – Nam Phong (NP): Field and Reserves
THE ASSETS – NAM PHONG (NP) FIELD AND RESERVES LEGEND Well TD ● Discovered 1981, production began 1990 Top reservoir ● Faulted N-S trending anticline. Permian fractured carbonate Pha Nok Khao (PNK) formation Well pad Block boundary ● Seven currently producing wells, drilled from six wellsites and ce
Slide 10: The Assets – Nam Phong (NP): Facility and Gas Contracting
THE ASSETS – NAM PHONG (NP) FACILITY AND GAS CONTRACTING ● Plant capacity of 130 MMscf/d ● Production from the Nam Phong field is sent to the nearby Gas Stabilisation Unit (GSU) which consists mainly of a produced water knock-out system and a dehydration unit, operated by EMEPK. ● From the GSU the d
Slide 11: Recent Development on the Assets
RECENT DEVELOPMENT ON THE ASSETS THE SINPHUHORM & NAM PHONG JV’S HAVE OVERSEEN SIGNIFICANT OPERATIONAL ENHANCEMENTS OVER THE PAST FIVE YEARS 2024 2020-2024 2021-2024 Sinphuhorm Booster Sinphuhorm Wells Nam Phong Wells Compressor Upgrade Significant capex project completed, Eight wells and sidetracks
Slide 12: Material Impact on the Horizon Portfolio: Two Years Ago
MATERIAL IMPACT ON THE HORIZON PORTFOLIO HORIZON PORTFOLIO TWO YEARS AGO GROUP PRODUCTION FORECAST TO END 2030, BOEPD 9,000 Block 22/12 forecast 8,000 Maari forecast 7,000 6,000 Rate (boepd) 5,000 4,000 3,000 2,000 1,000 0 Aug-25 Aug-26 Aug-27 Aug-28 Aug-29 Aug-30 MATERIAL AND IMMEDIATE INCREASE IN
Slide 13: Material Impact on the Horizon Portfolio: With Maari Life Extension
MATERIAL IMPACT ON THE HORIZON PORTFOLIO HORIZON PORTFOLIO TWO YEARS AGO WITH EXPECTED MAARI LIFE EXTENSION GROUP PRODUCTION FORECAST TO END 2030, BOEPD 9,000 Block 22/12 forecast 8,000 Maari forecast 7,000 6,000 Rate (boepd) 5,000 4,000 3,000 2,000 1,000 0 Aug-25 Aug-26 Aug-27 Aug-28 Aug-29 Aug-30
Slide 14: Material Impact on the Horizon Portfolio: Following Mereenie Acquisition
MATERIAL IMPACT ON THE HORIZON PORTFOLIO HORIZON PORTFOLIO FOLLOWING MEREENIE ACQUISITION IN 2024 GROUP PRODUCTION FORECAST TO END 2030, BOEPD 9,000 Block 22/12 forecast 8,000 Maari forecast 7,000 Mereenie forecast 6,000 Rate (boepd) 5,000 4,000 3,000 2,000 1,000 0 Aug-25 Aug-26 Aug-27 Aug-28 Aug-29
Slide 15: Material Impact on the Horizon Portfolio: Today With Thailand Assets
MATERIAL IMPACT ON THE HORIZON PORTFOLIO HORIZON PORTFOLIO TODAY WITH THAILAND ASSETS GROUP PRODUCTION FORECAST TO END 2030, BOEPD 9,000 Block 22/12 forecast 8,000 Maari forecast 7,000 Mereenie forecast Thailand forecast 6,000 Rate (boepd) 5,000 4,000 3,000 2,000 1,000 0 Aug-25 Aug-26 Aug-27 Aug-28
Slide 16: Material Impact on the Horizon Portfolio: Including Potential Future Activities
MATERIAL IMPACT ON THE HORIZON PORTFOLIO HORIZON PORTFOLIO TODAY INCLUDING POTENTIAL FUTURE ACTIVITIES GROUP PRODUCTION FORECAST TO END 2030, BOEPD 9,000 Block 22/12 forecast 8,000 Maari forecast 7,000 Mereenie forecast Thailand forecast 6,000 Rate (boepd) Portfolio - other indicative future activit
Slide 17: Gas Offtake & Thailand Gas Market
GAS OFFTAKE & THAILAND GAS MARKET SUSTAINED DEMAND WITH LONG-TERM OFFTAKE: ROBUST COMMERCIAL CASE ● Gas from both Sinphuhorm and Nam Phong is contracted EGAT NAM PHONG POWER PLANT (PHOTO COURTESY OF EGAT) under long-term oil linked gas sales agreements with PTT through until the end of the current c
Slide 18: About Our Partners
ABOUT OUR PARTNERS MATAHIO ENERGY – 25% co-owner of EMEPK, and designated Operator of Nam Phong on behalf of the Consortium1 ● Matahio Energy is a leading upstream energy company dedicated to delivering sustainable and innovative energy solutions across Asia and Australasia. With a 78.8% operated st
Slide 19: Summary
SUMMARY HORIZON HAS ACQUIRED A MATERIAL SUITE OF GAS PRODUCING ASSETS IN A LOW-RISK STRATEGIC DOMESTIC ONSHORE SETTING, WITH A FUNDING STRUCTURE WHICH ALLOWS THE COMPANY TO CONTINUE ITS DISTRIBUTION STRATEGY ● Represents a Thailand country re-entry and establishes a low-cost platform for growth in T
Slide 20: Contacts
CONTACTS RICHARD BEAMENT CEO +61 2 9332 5000 info@horizonoil.com.au Horizon Oil Limited Level 4, 360 Kent Street Sydney NSW 2000 Australia horizonoil.com.au ACQUISITION OF 7.5% SINPHUHORM AND 60% NAM PHONG GAS FIELDS