ABOUT US PROJECTS FINANCIAL REPORTS NEWS CONTACT OIL & GAS LICENSES IN POLAND Acquiring a proven, but undeveloped field and a large acreage position Agreements were executed to acquire 100% interests in five concessions from San Leon Energy plc. Closing expected mid-2019 (long-stop date March 19, 2019) US$1 MM in cash, C$1 MM in Horizon common shares and a 6% Net Profit Interest (NPI) 1,130 km2 (279,323 acres) in two licenses (Bielsko-Biala, Cieszyn) in the Carpathian foldbelt Lachowice natural gas development >2P reserves:36 Bcfe (NPV10 : US$98 MM) Risked 2C resources:171 Bcfe (NPV10: US$398 MM) Risked prospective resources: Options to acquire 1,898 km2 (466,970 acres) in three licences (Buchowice, Kotlarka and Prusice) in the prolific Permian-aged Rotliegendes natural gas basin. The Buchowice concession is under application with Kotlarka and Prucise is awaiting final award. Bielsko-Biala Concession: Lachowice field 950 km of legacy 2D seismic Located in the Carpathian foothills 50 km south of the city of Krakow Discovered with Lachowice-1 in 1986 Seven wells drilled 1986 – 1996: 7 wells confirmed 130m – >300m gas columns 3 wells tested gas at commercial rates up to 8.9 MMscf/d (see map) Wellbores’ integrity compromised by poor drilling and operating practices No confirmed Gas-Water Contact penetrated by the wells Devonian aged naturally fractured carbonate reservoirs. Development through horizontal wells to optimize access to fracture systems Kotlarka, Prusice, Buchowice Licences Incremental reserve addition opportunities to increase natural gas resource inventory Limited use of 3D seismic & horizontal well technologies outside of PGNiG legacy producing fields © 2017 Horizon Petroleum Directors Management Projects Contact News Reports Privacy