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Re: News Releases - Thursday, September 20, 2007
PAN AMERICAN'S EXECUTIVES JOIN HORIZON'S BOARD AND OPERATING
MANAGEMENT TEAM
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VANCOUVER, CANADA -- September 20, 2007 -- Horizon Industries Ltd.
(Horizon) (TSXV:HRZ), is pleased to announce that Mr. Larry Hargrave,
CEO and co-founder of Pan American Production Company ("Pan American")
of Houston, Texas, has joined Horizon's Board of Directors and accepted
the role of Senior Vice President. Additionally, Mr. Denver Gartner,
President and co-founder of Pan American has assumed the role of Chief
of Exploration and Operations at Horizon.
Larry Hargrave, CEO of Pan American, graduated from Lamar University in
1973, with a degree in Geology. Earlier in his career, Mr. Hargrave was
chief geologist for Damson Oil in the Rocky Mountains, where he
supervised the geology, drilling and development of several thousand
wells in Montana. In addition, Mr. Hargrave has designed and installed
significant gas gathering systems in South Texas as well as vapor
recovery systems in gas condensate reservoirs in Siberia. Utilizing
his extensive drilling, and downhole experience, Mr. Hargrave has been
very successful not only in new completions but also in identifying
bypassed potential production, reentering, and reengineering well bores
and surface facilities to develop and improve net cash flows.
Denver Gartner, President of Pan American, received his BS in geology
from the University of Southern California in 1978. Upon graduation Mr.
Gartner went to work for Ferguson and Bosworth in Bakersfield,
California, a very successful private independent oil and gas
exploration company. Ferguson and Bosworth had production in
California, Texas, Nevada, Louisiana, and Wyoming. Mr. Gartner trained
in the areas of deep, high risk, high potential Lower Cretaceous
trends, such as the Woodbine, Edwards shelf edge, Sligo shelf edge, and
West Texas Devonian trend. Mr. Gartner generated over one dozen 100
BCF prospects as a staff geologist, partner and participant. Major
independent oil companies including: Amerada Hess, Pennzoil, Transco,
Texoma and King Ranch Oil and Gas, acquired participating interests in
many of these projects. The highlight was participation in a 100 BCF
discovery in Chocolate Bayou Field in Brazoria County, Texas. An
independent in the 1990's, Mr. Gartner's focus shifted to include
shallower, seismic amplitude and stratigraphic plays in the Yegua,
James Lime, Miocene and Frio formations resulting in discoveries in
Wharton, Lavaca and Maverick Counties, Texas.
In 2003, Mr. Hargrave and Mr. Gartner joined to form Pan American
Production Company. Together, Mr. Hargrave and Mr. Gartner combined
their diverse experience to identify areas having low initial risk,
while also providing the opportunity to create significant high
potential by application of exploratory techniques. Since its
inception, Pan American has brought twelve wells into production and
secured land positions totaling approximately 30,000 acres resulting in
a successful company with strong development potential.
Christopher Wensley, President and CEO of Horizon comments, "We are
very pleased with and welcome the commitment of Mr. Hargrave and Mr.
Gartner to the success and growth of Horizon Industries Ltd. Their
addition to our board and management bring not only credentialed
geological professionalism and experience to Horizon, but also strong
local knowledge and understanding of oil and gas exploration and
development in the US and particularly, South Texas where the Company
has focused the majority of its activity. The union between Pan
American and Horizon is a compliment that we feel greatly strengthens
Horizon and the realization of our growth prospects. We expect this to
become particularly evident as we proceed with the development of New
Waverly and the initial proposed 45 well drilling program now
underway."
The Company also announces the granting of 475,000 incentive stock
options to two directors and three consultants, at an exercise price of
$0.35 per unit.
Pan American Production Company, Inc.
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.
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 Thu Sep 20, 2007 at 8:27:42 AM Pacific Time
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