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Re: News Releases - Wednesday, September 05, 2007
OPERATIONS AT FUNK PROSPECT RESUME - #2 WELL PUT ON LINE TO SALES
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VANCOUVER, CANADA -- September 5, 2007 -- Horizon Industries Ltd.
(Horizon) (TSXV:HRZ), is pleased to announce that the Funk #2 Well at
the Funk Prospect in Goliad County, Texas is now on line and selling
gas.
A service rig was moved on location on August 27, 2007 to perforate and
test the first of several well defined pay zones in the Frio formation
which were logged in the Funk #2 Well at the beginning of the year.
Operations were suspended in the Cook Mountain and Yegua formations due
to mechanical concerns and the decision was made to proceed to the
shallower Frio formation to achieve production while further evaluation
and work in the deeper zones is put in abeyance. Record rainfalls and
unusually wet ground conditions had prevented the deployment of a rig
to the Funk Prospect until last week when a window in the weather
appeared.
The Funk #2 well was perforated from 3,212 to 3,215 feet on Tuesday
August 28. The well was later put to sales on a 9/64ths choke and
currently has a stable flow rate of approximately 250 MCF per day and
flowing tubing pressure of 1,100 psi. The Funk #2 has already produced
over 1MMCF since being put to sales late last week.
Horizon Industries Ltd. currently 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.
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 Wed Sep 5, 2007 at 8:09:22 AM Pacific Time
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