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Why I'm not convinced by Horse Hill

By Gary Newman | Tuesday 15 July 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


I’ve been watching all the excitement surrounding the drilling of the Horse Hill 1 well in the UK, but personally am not convinced! I find myself wondering why NASDAQ-listed company Magellan Petroleum relinquished a 65% share of the PEDL137 license (which contains the Horse Hill prospect) simply in return for the farminee drilling it prior to its expiry date on September 30 2014.


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