Dr. David Winter reports

HORIZON PETROLEUM PROVIDES A FURTHER OPERATIONS UPDATE OF ITS PREPARATION FOR FIRST PRODUCTION IN POLAND

Further to its press release dated June 2, 2025, Horizon Petroleum Ltd. has provided a further operations update on progress made toward first production from its cornerstone Lachowice gas development in the Bielsko-Biala concession in southern Poland.

David Winter, chief executive officer of Horizon, commented: "We are pleased that all permits and approvals for the L7 workover operation have been received on schedule and we continue to progress in our operations towards first production from the Lachowice 7 well as planned. We look forward to our continuing work with all stakeholders and will update shareholders as the initial development program progresses."

Assuming a successful workover result, gas and/or electrical power sales from the Lachowice 7 (L7) well will provide the company with its first cash flow and will provide a long-term test of the production performance of the naturally fractured, Devonian-aged limestone and dolomite reservoirs in the L7 well.

Preparatory work for the L7 workover is progressing on schedule:

• The environmental impact assessment (EIA) permit for the L7 early production facility has been filed with the Ministry of Climate and the Environment.
• The company can confirm that the local utility company has completed the relocation of the power line that crosses the L7 well site. This now allows Horizon full access to the well site for heavy equipment and for construction work to begin.
• Construction bids for the civil works required at L7 and the surface road access have been tendered, with award expected before month-end, with the fieldwork to commence in mid-August.

Full field development plan

The company has commenced the process to rezone the land identified for the gas processing plant and well sites for industrial use. Horizon is in active discussions with the local regional government regarding the future drilling and construction plans to facilitate the rezoning applications.

The company is targeting gas/electricity sales and first cash flow by the first half of 2026.

About Horizon Petroleum Ltd.

Calgary-based Horizon is focused on the appraisal and development of natural gas and oil reserves in Europe. The management and board of Horizon consist of oil and gas professionals with significant international experience.

We seek Safe Harbor.