Australia's Horizon Oil rises after offering to buy Cue Energy Resources

Cue Energy Resources

02/03/2026 24:40

** Shares of Australia's Horizon Oil HZN.AX rise as much as 8.3% to A$0.26, their highest level since June 24, 2014

** Stock marks biggest intraday pct jump since June 13, 2025

** Co says it has made off-market takeover offer to acquire all issued shares of Cue Energy Resources CUE.AX which it currently does not own

** Says Cue shareholders will receive A$0.008 in cash and 0.5625 Horizon shares for each share held

** About 5.6 mln HZN shares change hands, 3.2x the 30-day average

** Horizon Oil shares last up 2.1%, with YTD gains of ~20%

** CUE shares on trading halt

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))