Horizon Petroleum Ltd.
0.30
CAD
-0.02
(-7.69%)
ISIN
CA44053J4090
CUSIP
44053J409
Return %
Stock
S&P 500
1Y
233.33
14.20
3Y
20.00
81.12
5Y
-65.71
68.34
Capital Structure
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in mil. unless spec.Company Description
- CEO
- David Anthony Winter
- Sector
- Energy minerals
- Industry
- Integrated oil
- Address
- Calgary Canada
- IPO Date
- Feb 13, 1989
- Website
- horizon-petroleum.com
- Similar Companies
- Business
- Horizon Petroleum Ltd. is a Canada-based junior oil and gas exploration, appraisal, and development company engaged in the acquisition, evaluation, and commercialization of conventional natural gas and crude oil assets, with a primary operational focus on Central European energy markets. The company provides upstream hydrocarbon resource development solutions, comprising geological and geophysical subsurface appraisal; reservoir modeling and reserve estimation; well site civil engineering and well pad construction; wellbore workover, perforation, and acid stimulation; multi-rate production flow testing and completion; and natural gas processing and transmission infrastructure planning for conventional reservoirs. Horizon Petroleum's core operational holdings are situated in southern Poland within the Western Carpathians basin, encompassing the Bielsko-Biała and Cieszyn concessions across approximately 1,100 square kilometers, anchored by the flagship Lachowice conventional natural gas field. Incorporated in 1987 and formerly known as Newton Development Ltd., the company is headquartered in Calgary, Alberta, Canada, and conducts its European operations through its wholly owned Polish operating subsidiaries, Energia Karpaty Zachodnie Sp. z o.o. and Energia Karpaty Zachodnie z o.o. Sp. k. In recent corporate developments, Horizon Petroleum completed the acquisition of 100% ownership in the Energia Karpaty Zachodnie entities and their Polish concession rights from San Leon Energy for US$1.6 million in cash, restructuring the transaction to eliminate prior net profits interest obligations and share dilution. Operationally, the company advanced its European gas commercialization strategy by completing well pad construction, mechanical workovers, perforation, and completion assemblies at the Lachowice-7 well to conduct acid stimulation and extended production testing. Additionally, Horizon Petroleum completed a listing transition from the NEX board back to the main TSX Venture Exchange under the ticker HPL and closed multiple oversubscribed non-brokered equity private placements and secured convertible debenture financings to fund drilling operations, testing programs, and corporate working capital.