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Re: News Releases - Tuesday, February 19, 2008
PRODUCTION RESUMES - FUNK #2 WELL RETURNED TO SALES
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VANCOUVER, CANADA -- February 19, 2008 -- Horizon Industries Ltd.
(Horizon) (TSXV:HRZ), is pleased to announce that a work-over procedure
has been completed on the next prospective up hole zone in the Funk #2
well in Goliad County, Texas and the well has been placed on line to
sales.
The Company completed review and evaluation of logs and well records
and elected to proceed to the next prospective pay zone extending from
a depth of 3,122 feet to 3,131 feet in the Frio formation. Rig up
occurred on Wednesday, February 13 and the well was perforated at
mid-day on Thursday, February 14, 2008 from 3,122 feet to 3,124 feet.
The well began to unload fluids on an 8/64ths choke. The well was
further cleaned up on a 6/64ths choke recovering all but 2 barrels of
load water while flowing gas at approximately 183 MCF per day with
flowing tubing pressure of 1,150 psi. The work over rig was released
and the well was put on line to sales that afternoon.
Review of a proposed procedure to perforate the next up hole zone of
interest in the Funk #1 Well has also been completed. A work-over rig
is available and is being scheduled to move onto the location within
approximately two to three weeks.
Horizon Industries Ltd. currently holds a 54% working interest in the
Funk Prospect.
The Funk Prospect is located in the G. Barrera survey A-2 in Goliad
County and comprises approximately 500 acres. The Funk Prospect is
situated in the prolific Middle Yegua gas trend, a formation that has
produced gas and condensate in the nearby Maetze Yegua, Perdido Creek
and Jobar fields.
Horizon Industries Ltd.
Horizon Industries Ltd. is an emerging oil and gas exploration and
production company building a high quality asset base in focused areas
in the United States. For more information, please visit
www.horizonindustriesltd.com.
On Behalf of the board of directors,
"Christopher Wensley"
Christopher Wensley, President
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of the content of this News Release. WARNING:
The Company relies on litigation protection for "forward looking"
statements. Actual results could differ materially from those
described in the news release as a result of numerous factors, some of
which are outside the control of the Company.
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Copyright (c) 2008 HORIZON INDUSTRIES LTD. (HRZ) All rights reserved.
For more information visit our website at
http://www.horizonindustriesltd.com/ or send
mailto:info@horizonindustriesltd.com
Message sent on Tue Feb 19, 2008 at 8:17:42 AM Pacific Time
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