What percentage stake did Horizon (ASX:HZN) acquire in Cue Energy Resources (ASX:CUE)?

Horizon (ASX:HZN) acquired a 57.03 per cent controlling interest in Cue Energy Resources (ASX:CUE). This controlling stake was finalised on July 2 following the completion of an off-market takeover offer.

What are the total cash amounts paid by Horizon (ASX:HZN) to complete the transaction?

Horizon (ASX:HZN) paid approximately $15.7 million for an initial 19.90 per cent stake and an additional $2.1 million to secure the remaining interest in Cue Energy Resources (ASX:CUE). The company also issued 146,890,089 Horizon shares to accepting Cue shareholders.

What does the acquisition mean for the daily production volumes of Horizon (ASX:HZN)?

The transaction delivers an effective 15% increase in daily production to approximately 7,300 barrels of oil equivalent for Horizon (ASX:HZN). Horizon calculated this asset expansion based on its 57.03% controlling interest in Cue Energy Resources (ASX:CUE).

How is the board structure changing at Cue Energy Resources (ASX:CUE) after the takeover?

Following the takeover, Horizon (ASX:HZN) appointed four of its executives to the board of Cue Energy Resources (ASX:CUE) on July 2. The five directors previously nominated by Echelon Offshore resigned from the Cue board.

What geographic markets do the oil and gas assets of Cue Energy Resources (ASX:CUE) span?

The acquisition of Cue Energy Resources (ASX:CUE) provides Horizon (ASX:HZN) with an effective interest in six producing oil and gas assets across Indonesia, Australia, and New Zealand.

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Horizon Oil acquires 57% Cue Energy Resources stake

Written by Heidi Cuthbert Published Jul 3, 2026, 1:01 AM

Horizon Oil completed its off-market takeover of Cue Energy Resources to secure a controlling interest.
The announcement left the company share price steady during subsequent market trading.
The acquisition aims to expand the hydrocarbon production and asset portfolio of the business.

Horizon Oil (ASX:HZN) completed its off-market takeover of Cue Energy Resources (ASX:CUE) to acquire a 57.03% controlling interest.

The company completed a pre-bid agreement in June before finalising the transaction on July 2.

Horizon paid approximately $2.1 million to secure the remaining interest.

The transaction delivers an effective 15% increase in daily production to approximately 7,300 barrels of oil equivalent.

Following the announcement, the Horizon share price was unchanged at $0.20.

Cue held an unaudited cash balance of approximately $16 million at May 30 with zero debt.

The transaction increases Horizon net reserves by more than 20% to 15.4 million barrels of oil equivalent.

Horizon Oil acquires 57% Cue Energy Resources stake

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