PNG Transaction investigation completed

  • Jun 09, 2020 AEST
  • Team Kalkine

Horizon Oil Limited (ASX:HZN) announced that the investigation into the company’s payment for acquiring an interest in Western Province of Papua New Guinea (PNG) in 2011 has been concluded. The forensic review of all aspects of transaction conducted by Herbert Smith Freehills and Deloitte with the overnight of an independent board committee confirmed that the quantum of purchase price paid was in line with the market practice and is comparable to other relevant transaction during the same time frame.

The 2011 transaction was undertaken to advance HZN’s legitimate business interest in PNG. This needed closure for the stated allegations will help the company to regain the lost confidence of the shareholders.


The website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK