• Executed amendment to senior debt facility with Macquarie Bank
• Facility to fund acquisition of 7.5% interest in Sinphuhorm and 60% in Nam Phong fields
• Acquisition to add ~2,000 boe/d to Horizon's production

Horizon Oil Limited has executed an amendment to its senior debt facility agreement with Macquarie Bank to fund the acquisition of an effective 7.5% working interest in the producing Sinphuhorm conventional gas and condensate field, and a 60% working interest in the producing Nam Phong conventional gas field in Thailand. The acquisition is proposed through a consortium, with Horizon to acquire 75% of the shares in ExxonMobil Exploration and Production Khorat Inc. (EMEPKI), and Matahio Energy acquiring the residual 25% and agreeing to manage EMEPKI employees and operatorship of the Nam Phong field on behalf of the consortium. The amended senior debt facility, structured as a reserves-based lending facility, comprises three tranches: Tranche A - an increase in the Mereenie available debt from approximately A$40 million to up to A$50 million; Tranche B1 - up to an additional US$15 million of finance to initially fund the acquisition; and Tranche B2 - up to an additional US$10 million of finance to be made available following completion of the acquisition to fund further development of the secured assets and for general corporate purposes. Horizon CEO Richard Beament commented that the finalisation of the amendment to the facility agreement is a key transaction milestone for the acquisition and provides the Group with financial flexibility and additional liquidity to fund further development of its significant pipeline of contingent resources.

The acquisition is expected to add approximately 2,000 boe/d to Horizon's production.

Horizon expects to complete the drawdown and financial close of the facility, as well as the completion of the transaction, over the coming months.