The TSX Venture Exchange has accepted for filing Horizon Petroleum Ltd.'s proposal to issue 3.04 million shares to settle outstanding debt of $152,000 related to settlement of directors' fees.

Creditors:  three

Insiders:  Yogeshwar Sharma $76,000 owing, 1.52 million shares at five cents; Charle Gamba $38,000 owing, 760,000 shares at five cents; W. Derek Aylesworth $38,000 owing, 760,000 shares at five cents

The company shall issue a news release when the shares are issued and the debt extinguished.