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Re: News Releases - Friday, May 09, 2008
COMPLETION UNDERWAY AT J. VELA #1 GAS WELL
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VANCOUVER, CANADA -- May 9, 2008 -- Horizon Industries Ltd. (Horizon)
(TSXV:HRZ), is pleased to announce that drilling of the J. Vela #1 Well
in Zapata County, Texas has reached total depth of 9,400 feet. The
operator, Ventum Energy LP (Ventum), of Houston, Texas has elected to
run casing and test the well. Furthermore, Horizon intends to exercise
its option to acquire a 3.125% working interest in the well and the
prospect from Pan American Production Company by paying its
proportionate share of completion costs of the well.
The J. Vela #1 well is located 150 feet from the existing Jonnell
Zamora #1 Well which was drilled in April 1961 and completed as a gas
well from the 1st Hinnant Sands at approximately 7,800 feet. The well
was perforated in the top ten feet of the 1st Hinnant Sands and flowed
dry gas at rates of up to 4 MMCF/day. At the time, due to a lack of
market or pipeline for the gas, the well was shut in and never placed
into commercial production.
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 Fri May 9, 2008 at 7:33:52 AM Pacific Time
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