Horizon’s Initial Due Diligence on Cherokee County Oil and Gas Lease Suggests Potential

HOUSTON--()--Horizon Energy Corporation (OTCQB: HORI) announces its initial due diligence is favorable and it will soon be ready to move forward with final negotiations on its option agreement for leases known as the Holmes Oil Unit Number 1 in the East Texas counties of Cherokee and Rusk. The agreement is with Ponta E&P LLP, a Texas partnership involved in oil and gas exploration and production in the area.

The land under consideration, 83 acres located in the Pettit formation close to the town of Rusk, the Cherokee county seat, is the second project in Horizon’s ongoing efforts to identify prospective opportunities for the exploration, development and production of domestic oil and gas.

Earlier this year, Apache Corporation (NYSE:APA) identified East Texas and Louisiana as areas of interest in its quest for the next big find. Throughout East Texas, producers such as Anadarko Petroleum Corporation (NYSE:APC) and EOG Resources, Inc. are returning to fields that were considered played out and applying new technology. This mirrors initial activities in the Permian basin on the state’s western side, where producers revisited previously drilled fields, successfully employing horizontal drilling and hydraulic fracturing.

“Oil companies are vying to establish new fields in light of rapidly declining output in some areas, and East Texas, which gave birth to the modern oil age, is an excellent prospect,” said Robert Bludorn, President and CEO of Horizon Energy Corporation. He added, “Our initial research is showing a geology in Cherokee County that validates a renewed drilling program.”

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. Details can be found at www.horizonenergyusa.com.

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.

Contacts

Horizon Energy Corporation
Robert Bludorn, 228-822-4708, President and CEO

Release Summary

Horizon Energy Corporation’s (OTCQB: HORI) initial due diligence is favorable and it will soon be ready to move forward with final negotiations on its option agreement for leases in East Texas.

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Contacts

Horizon Energy Corporation
Robert Bludorn, 228-822-4708, President and CEO