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File: HPL_NR160526.docx


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Horizon Petroleum Ltd.
Suite 490, 700 - 4th Avenue SW, Calgary, Alberta, T2P 3J4
www.horizon-petroleum.com
 
 
 
 May 26, 2016 

HORIZON ISSUES SHARES IN SETTLEMENT OF DEBT


Horizon Petroleum Ltd. ("Horizon" or the "Company") (TSXV: HPL) announces that, further to its previous news release d
--->ated April 30, 2016, the Company issued, in the aggregate, 3,040,000 common shares to Yogeshwar Sharma (as to 1,520,00
--->0 common shares), Charle Gamba (as to 760,000 common shares) and W. Derek Aylesworth (as to 760,000 common shares) at 
--->a deemed price of $0.05 per share in settlement of $152,000.  The common shares are subject to a four month hold perio
--->d expiring on September August 26, 2016, pursuant to applicable Canadian securities laws and the policies of the TSX V
--->enture Exchange.

For further information, please contact:

Dr. David Winter
President & CEO
+1 403 619-2957
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 the policies of the TSX 
--->Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.