Horizon Energy Signs Agreement to Conduct Oil and Gas Operations in East
Exploration to begin immediately
HOUSTON -- May 20, 2014
Horizon Energy Corporation (OTCQB:HORI) today announced it has signed a joint
operating agreement with Ponta E&P, LLP, to begin exploration in a group of
oil and gas leases known as the Holmes Oil Unit Number 1 in the East Texas
counties of Cherokee and Rusk. The land consists of 82.89 acres located in the
Pettet formation close to the town of Rusk, which is the Cherokee county seat.
The agreement with Ponta E&P LLP is the first project in Horizon’s ongoing
efforts to explore, develop and produce domestic oil and gas.
Throughout East Texas, producers are returning to fields such as the Holmes
property and successfully employing horizontal drilling and hydraulic
fracturing in their quest for the next “Eagle Ford.”
According to texasdrilling.com, Rusk County had 2,992 producing leases that
yielded 162,692 BBL of oil and 8,558,754 MCF of gas in November 2013.
Neighboring Cherokee County’s 479 producing leases yielded 19,750 BBL of oil
and 1,448,151 MCF of gas during the same month.
“We are optimistic about our relationship with Ponta and expect this project
to become an important segment of our portfolio,” said Robert Bludorn,
President and CEO of Horizon Energy Corporation. He added, “This area has
demonstrated conservative asset appreciation and our research validates these
leases are an excellent prospect for a renewed drilling program.”
Major operators in the area include Marathon Oil (NYSE:MRO) and Forest Oil
About Horizon Energy Corporation
Horizon Energy Corporation was incorporated in the state of Wyoming in 2010.
Its business model and scope of operation includes traditional and
nontraditional energy sector opportunities. It is currently in the business of
acquiring, discovering and developing oil and gas properties.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This news release contains forward-looking information within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including statements
that include the words "believes," "expects," "anticipates," or similar
expressions. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance
or achievements of the company to differ materially from those expressed or
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anyone's past success, either financial or strategic, is no guarantee of
future success. This news release only speaks as of the date of its
Horizon Energy Corporation (OTCQB:HORI) has signed a joint operating agreement
with Ponta E&P, LLP, to begin exploration in a group of oil and gas leases in
the East TX counties of Cherokee and Rusk
Horizon Energy Corporation
Robert Bludorn, 228-822-4708
President and CEO
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