Both companies have solid producing assets in common. For me, HZN probably carries higher reward and also higher risk with the PNG position. Great the farmout is done with Osaka Gas and their is cash coming once the PDL is issued for Stanley - and therein lies the greater risk with PNG Gov't. That PDL has been delayed for some time.
HZN is pretty good at moving their 2C Resources to 3P/2P/1P Reserves IMO and once the PDL issued and production begins their boepd output climbs significantly - so I like the valuation model (I haven't posted too much indepth stuff).
ROC Price at posting:
47.0¢ Sentiment: None Disclosure: Not Held
