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Re: News Releases - Thursday, March 15, 2007
FUNK #2 -- TIED IN TO SALES
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VANCOUVER, British Columbia -- March 15, 2007 -- Horizon Industries
Ltd. (TSXV:HRZ), is pleased to announce it has completed tie in
procedures at the Funk #2 well in Goliad County, Texas.
Log results reported in the Company's news release dated January 10,
2007 showed four prospective pay zones in the well; two upper zones
between 3,121 feet to 3,278 feet; a pay zone in the Yegua formation
from 5,580 feet to 5,680 feet; and another pay zone in the Cook
Mountain formation from 5,820 feet to 5,840 feet.
The well was put on line to sales on February 22, 2007 with initial
production coming from the Cook Mountain formation where flow rates in
excess of 2,000 mcf gas per day were measured during an independent
four point flow test. The pay zone in the Cook Mountain formation, as
anticipated, was of limited areal extent and a recompletion has
commenced in the Yegua formation. The well remains on line to sales
with commercial production of oil and gas from eight feet of
perforations at the top of the Yegua pay zone. Flow is being monitored
with additional perforations being evaluated for this extensive zone.
There are up to six additional prospective well locations at the Funk
prospect. The Company is currently finalizing plans to drill its next
well at Funk to test a target in the Catahoula Formation similar to the
Funk #1 well.
Horizon Industries Ltd. holds a 54% working interest in the Funk
Prospect.
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. The Funk prospect currently has two producing wells,
the Funk #1 and #3 wells.
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.
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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 Mar 15, 2007 at 9:26:38 AM Pacific Time
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