Horizon Energy Signs Agreement to Conduct Oil and Gas Operations in East Texas Exploration to begin immediately Business Wire 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 Corporation (NYSE:FST). 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 implied by such forward looking statements. In addition, description of 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 distribution. 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 Contact: Horizon Energy Corporation Robert Bludorn, 228-822-4708 President and CEO
Horizon Energy Signs Agreement to Conduct Oil and Gas Operations in East Texas
Press spacebar to pause and continue. Press esc to stop.