EXPLORATION

Clouds form on Horizon

HORIZON Oil has announced a half year loss of about $US10 million for the period ended December 31, 2008 primarily due to impairment charges relating to the group's divestment of its Thai exploration permits.

Claire Svircas

On February 13, Horizon pulled out of its operations in Thailand, transferring its stakes in five offshore blocks in the Gulf of Thailand to partner Pearl Energy, in a bid to reduce costs. The company...

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