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File: HPL_NR151109.docx

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Horizon Petroleum plc
Queensway House, Hilgrove Street, St Helier, Jersey JE1 1ES
www.horizon-petroleum.com
 
 
 

Jersey, Channel Islands,  November 9, 2015 

HORIZON PETROLEUM ENTERS INTO AGREEMENT FOR
WEST AFRICAN FARM-IN; APPOINTS NEW PRESIDENT & CEO
AND ANNOUNCES PRIVATE PLACEMENT

Horizon Petroleum plc ("Horizon", or the "Company") (TSXV: HPL) announces that it has entered into a letter agreement 
--->(the "Agreement") with a significant international resource company (the "Partner"), to farm-in to an offshore explora
--->tion block in West Africa.  Under the Agreement, the Company and the Partner have agreed to the primary terms under wh
--->ich Horizon can earn a 50% working interest in the block, and which will be contained within a definitive agreement to
---> be entered into between the Company and the Partner.

The Company will release further information on this West African farm-in, when available, and able to do so under the
---> confidentiality terms of the Agreement.   The Company and the Partner are currently awaiting formal approval from the
---> host country for entering into the next exploration phase under the production sharing contract covering the block.

Furthermore, Horizon reports that Dr. David Winter, Executive Director, has agreed to assume the role of President and
---> Chief Executive Officer of the Company, replacing David R. Robinson, the Interim Chief Executive Officer.  Mr. Robins
--->on will continue in his role of Vice President, Business Development, of the Company.

Dr. Winter has over 28 years of international oil and gas industry experience in Latin America, the Middle East, North
---> Africa, South East Asia and North America. He is a Co-Founder and Director of privately-held Miramar Hydrocarbons Ltd
--->., as well as a Co-Founder and Director of Canacol Energy Ltd., a publicly traded oil and gas company listed on both t
--->he Toronto and Colombia stock exchanges. Prior to founding Miramar, David was Founder, CEO & President of Excelsior En
--->ergy Limited, a Canadian publicly traded company focused on exploration and appraisal activities in Canada's oil sands
--->. David acquired his extensive international oil and gas experience from senior management roles at Calvalley Petroleu
--->m, where he was Senior Vice President, Exploration and Production, and at Alberta Energy Company, where he was Vice Pr
--->esident, International Exploration. He has also held senior management and technical positions with Canadian Occidenta
--->l, Sun Oil and BP. Dr. Winter holds a BSc (Hons), MSc and PhD in Geology.

Commented Mr. Yogeshwar Sharma, Chairman of the Company, "As the Company moves into its next stage of growth, the Boar
--->d is delighted with the appointment of Dr. Winter as the Company's CEO, and wishes to acknowledge Mr. Robinson's signi
--->ficant contribution to Horizon since the reorganisation, and renewed focus on development opportunities in West Africa
--->.

Furthermore, the Company announces its intention to undertake a non-brokered private placement for aggregate gross pro
--->ceeds of up to $2,000,000 (CDN), through the distribution of units at $0.05 per unit; each unit consisting of one shar
--->e plus  one-half warrant with each whole warrant exercisable at $0.075 per share for 24 months.  The private placement
---> will be subscribed for by management, Board members, and family, plus consultants, close associates, and others.

Funds raised under the private placement will be used to advance the West African farm-in, and for general working cap
--->ital purposes.   Finders' fees may be payable on a portion of the private placement.

For further information, please contact:

Dr. David Winter
President & CEO
+1 403 984 2444
david.winter@horizon-petroleum.com

David R. Robinson VP Business Development
+1 403 399 9047
david.robinson@horizon-petroleum.com


NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENT
--->URE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.