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Re: News Releases - Friday, October 26, 2007
HORIZON AND PAN AMERICAN EXPAND NEW WAVERLY - WILCOX TARGETS
IDENTIFIED
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VANCOUVER, CANADA -- October 26, 2007 -- Horizon Industries Ltd.
(TSXV:HRZ), (Horizon), in partnership with Pan American Production
Company (Pan American), is pleased to announce that a further 712 acres
have been acquired and added to the New Waverly Prospect located in San
Jacinto County, Texas. The New Waverly Prospect now comprises
approximately 4,172 acres.
Also, interpretation of newly acquired seismic data over the initial
acreage has revealed several prospective Wilcox targets, at a depth of
approximately 11,000 feet, offsetting the Old Waverly Field Wilcox
production discovered by Cities Service in the late 1950's. Offsetting
Wilcox production occurred in the J.C. Barnes Johnston #1 well which
produced 4.625 BCF (Billion Cubic Feet) of gas plus 21,000 Barrels of
oil and in the Cities Service Browder #1 which produced 3.3 BCF of gas.
Horizon and Pan American have completed drilling of two shallow
Vicksburg/Jackson wells at New Waverly: the Hammond #1 which has been
successfully tested and put on production, and; the Sue Ann Browder #1,
which is due to be tested next week. Further analysis of logs from the
Sue Ann Browder #1 well has also shown the presence of an additional
prospective gas sand zone of interest below and in addition to those
discovered in the Hammond #1 well. Exploration potential exists in the
Vicksburg/Jackson, Yegua, Cook Mountain, Wilcox, and Woodbine
formations. The newly acquired acreage brings the number of
prospective shallow well locations to fifty-two.
Pan American is an oil and gas production company specializing in low
risk oil and gas prospects where opportunity exists to generate high
return through production enhancement and application of exploration
techniques. Pan American currently holds production and prospects
covering approximately 30,000 acres in Texas and is operator of the New
Waverly Prospect.
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
throughout 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) 2007 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 Fri Oct 26, 2007 at 7:08:38 AM Pacific Time
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