Dr. David Winter reports

HORIZON PETROLEUM PROVIDES AN OPERATIONS UPDATE FOR ITS POLAND OPERATIONS AND CONFIRMS WELLBORE INTEGRITY AT THE LACHOWICE 7 WELL

Further to Horizon Petroleum Ltd.'s press release dated July 23, 2026, its wholly owned Polish subsidiary, Energia Karpaty Zachodnie sp zoo (EKZ), has confirmed that the rig mobilization and installation is complete, and the re-entry operations have commenced at the Lachowice 7 (L7) well site.

The L7 workover program is designed to confirm the long-term production flow potential of the naturally fractured carbonate reservoir at Lachowice. To date the company has drilled out the cement and mechanical suspension plugs and run a milling assembly into the hole to a depth of 2,706 metres. Two casing pressure tests were conducted, and both confirmed the physical integrity of the wellbore. With this confirmation, the company can now move forward with the balance of the program.

The work program continues as follows:

• Removal of the existing downhole packer and completion equipment;
• Reperforate the naturally fractured, Upper Devonian aged carbonate reservoir section (with a gross interval of 65 metres) with new perforations;
• Stimulate using a diverted acid stimulation and then production test the well to confirm sustainable production flow performance;
• Suspend the well for production upon completion of the phase 1 development plan.

The workover program is on track, and the stimulation and production testing are expected to commence near the end of August and continue into early September, 2026, as previously disclosed.

Roger McMechan, chief operations officer of Horizon, commented: "Confirming the integrity of the well casing mitigates one of the key risks in re-entering the well. We look forward to executing and completing the workover and production testing safely and efficiently to confirm the long-term production capability of the Lachowice gas accumulation, which we believe has the potential to become a significant new domestic source of natural gas for Poland."

The company will provide additional updates as operations progress.

About Horizon Petroleum Ltd.

Calgary-based Horizon is focused on the appraisal and development of natural gas reserves and clean energy sources to increase energy independence and security in Europe. The management and board of Horizon consist of oil and gas, business, and finance professionals with significant international experience.

We seek Safe Harbor.