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Re: News Releases - Wednesday, June 06, 2007
COMPLETION OF THE HAMMOND #1 WELL UNDERWAY AT NEW WAVERLY
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COMPLETION OF THE HAMMOND #1 WELL UNDERWAY AT NEW WAVERLY
VANCOUVER, CANADA -- June 6, 2007 -- Horizon Industries Ltd.
(TSXV:HRZ), is pleased to announce that drilling of the Hammond #1 Well
at the New Waverly prospect in San Jacinto County, Texas is completed
and the partners have elected to proceed with completion operations.
Drilling of the well reached total depth of 3,200 feet and electric
logging and side wall core sampling has been completed. Evaluation of
the logs and side wall cores shows multiple prospective pay zones and
confirms the presence of hydrocarbons in the targeted sands.
Completion operations are underway and it is anticipated that flow
testing of the well will occur within the next 10 days. The Hammond #1
well is the first of up to five wells proposed to be drilled on the
initial 400 acre phase of the New Waverly prospect currently comprising
approximately 3,100 acres having prospective potential to host up to
approximately 40 such well locations.
Horizon holds a 25% working interest in the initial phase of the
prospect and has an option to acquire up to 37.5% working interest in
the balance of the prospect. The Waverly prospect is operated by Pan
American Production Company of Houston, Texas. For details on the New
Waverly Prospect, please refer to the Company's news release dated May
14, 2007.
About 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.
About 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.
Suite 1710 -- 1040 West Georgia Street Vancouver, B.C., V6E 4H1
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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 Wed Jun 6, 2007 at 6:14:25 AM Pacific Time
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