• Payment of AUD 1.5 cents per share interim dividend
• Steady production and cash build across assets
• Successful Mereenie infill well program
• Announced acquisition of additional production assets in Thailand

Horizon Oil Ltd reported a steady operational performance in Q3 FY25, with production and sales volumes largely in line with the prior quarter. Production and sales volumes for the quarter totalled 407,778 boe and 400,112 boe respectively across all assets. Revenue from production for the quarter was in line with the prior quarter at US$26.4 million, and net operating cash flow increased 8.4% to US$17.8 million. The company also announced a transformative acquisition in Thailand, entering into an agreement with Exxon to acquire interests in the producing Sinphuhorm and Nam Phong gas fields. This transaction provides immediate, stable cash flow from low-risk, long-life assets and represents an important re-entry into Thailand with strong regional partners. The balance sheet remains strong, with net cash increased by around US$4 million to US$26.4 million at quarter end. The company also reported successful infill drilling at the Mereenie field, which boosted field gas rates by around 20%, and a planned one-well drilling campaign at Block 22/12 in China's Beibu Gulf.

Horizon expects the acquisition in Thailand to boost production by over 2,000 boe/d.

The company remains focused on further appraisal and drilling opportunities at Mereenie, and continues to mature its CY25/26 work program activities across its asset portfolio.