HORI’s East Texas Project Delivers Better Than Expected Results
03 September 2014 - 5:37AM
Business Wire
Horizon Energy Corporation (OTCQB:HORI) announces better than
expected results for its exploration project in East Texas, and has
received the first proceeds from the initial well. The well came
out of workover and stimulation operations in July, 2014. Horizon
is conducting the joint exploration project with Ponta E & P
and is currently evaluating other drilling opportunities with Ponta
that can be recompleted in similar fashion.
“The well’s performance to date is encouraging and has validated
our decision to explore options in East Texas,” said Robert
Bludorn, President and CEO of Horizon Energy Corporation. He added,
“The successful renewal of this mature well with oil recovery
technology exemplifies the opportunities that lie within other East
Texas fields.”
While the Texas Railroad Commission reports most of the top
Texas counties for oil production are located in the Eagle Ford
Shale, some operators are returning to fields such as those being
targeted by Horizon in East Texas, using oil recovery technology to
stimulate wells that are long overlooked or barely tapped.
Horizon’s operation at Holmes Unit Number 1 is located in a
demonstrated producing trend on the border of Cherokee and Rusk
Counties in East Texas. Based on historical data, other wells in
the proximity of the Holmes Unit have also recently demonstrated
successful completion as the area experiences renewed interest.
For more information about Horizon Energy Corporation, please
visit the company’s website at www.horizonenergyusa.com.
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 CorporationRobert Bludorn, 228-822-4708President
and CEO