• Arafura gas supply agreement has lapsed due to Arafura not achieving FID
• Horizon and Mereenie joint venture to re-market gas to other customers
• Gas supply was committed to start in 2028

Horizon Oil Limited has announced that the Arafura gas supply agreement for Arafura's Nolans rare earths project has lapsed due to the condition precedent (Arafura's board approving a final investment decision (FID) on the Nolans project) not being satisfied by the 31 March 2025 deadline. Horizon and the other Mereenie joint venture partners had committed to the three-year gas sale in advance of the agreed 1 January 2028 commencement date and had already provided a nine-month extension to satisfy Arafura's condition precedent. However, following the ongoing delays in achieving FID on the Nolans Project, Horizon and the Mereenie joint venture have decided to re-market this volume of firm gas production commencing in 2028 to other customers throughout the Northern Territory and the East Coast.