• Increased debt capacity of up to A$50 million for Mereenie operations
• Additional US$15 million of finance to fund Thailand acquisition
• Up to US$10 million available for further development and general corporate purposes

Horizon Oil Limited has reached financial close on an amended senior debt facility with Macquarie Bank. The amended facility comprises three tranches: Tranche A increases the available debt for the Mereenie operations from approximately A$40 million to up to A$50 million, supported by recent infill well results and new gas sales agreements. Tranche B1 provides up to an additional US$15 million to initially fund the previously announced Thailand acquisition, which will be secured against Horizon's interest in Block 22/12 in China. Tranche B2 makes up to an additional US$10 million available following completion of the acquisition, to fund further development of the secured assets and for general corporate purposes, subject to additional security and technical diligence. The amended facility will support Horizon's forthcoming completion of the Thailand acquisition and future development plans.

The amended senior debt facility provides Horizon Oil with increased debt capacity of up to A$50 million for its Mereenie operations, as well as up to US$15 million to fund the Thailand acquisition and up to US$10 million for further development and general corporate purposes.