France pr0perties

France properties

  • Horizon is the operator and 100% interest holder in the Ledeuix exploration license in the Aquitaine Basin, SW France;
  • Interests are held through wholly-owned Luxembourg subsidiaries
  • Ledeuix contains the Saucede discovery which was drilled in 1979 by ESSO with TD at 5,638m
  • Flow rates up to 21 MMscf/d averaged 10 MMscf/d during tests from reservoirs 4,500 – 4,800m
  • Well placed on production 08/1981 to 06/1985 with production rate 1.45MMscf/d declining to 0.46 MMscf/d – impacted by reservoir formation damage during drilling
  • Test data indicates likely well IP’s 25-30 MMscf/d
  • Cumulative production of 2 bcf.

Potential

  • Independent NI51-101 report assigned 719 bcf contingent resources to the Saucede structure
  • Upside potential in higher thrust sheets and structures in same naturally fractured reservoir
  • Best estimate Prospective Resources: 715 bcf, 114 bcf risked

Ledeuix Property

Well Test & Production Summary

Aquitaine Basin – existing pools