Oil & gas licenses in poland
Acquiring a proven, but undeveloped field and a large acreage position
Agreements were executed to acquire 100% interests in five concessions from San Leon Energy plc.
- Closing expected mid-2019 (long-stop date March 19, 2019)
- US$1 MM in cash, C$1 MM in Horizon common shares and a 6% Net Profit Interest (NPI)
- 1,130 km2 (279,323 acres) in two licenses (Bielsko-Biala, Cieszyn) in the Carpathian foldbelt
- Lachowice natural gas development
>2P reserves:36 Bcfe (NPV10 : US$98 MM)
Risked 2C resources:171 Bcfe (NPV10: US$398 MM)
Risked prospective resources:
- Options to acquire 1,898 km2 (466,970 acres) in three licences (Buchowice, Kotlarka and Prusice) in the prolific Permian-aged Rotliegendes natural gas basin. The Buchowice concession is under application with Kotlarka and Prucise is awaiting final award.


Bielsko-Biala Concession: Lachowice field
- 950 km of legacy 2D seismic
- Located in the Carpathian foothills 50 km south of the city of Krakow
- Discovered with Lachowice-1 in 1986
- Seven wells drilled 1986 – 1996:
- 7 wells confirmed 130m – >300m gas columns
- 3 wells tested gas at commercial rates up to
8.9 MMscf/d (see map) - Wellbores’ integrity compromised by poor drilling and operating practices
- No confirmed Gas-Water Contact penetrated by the wells
- Devonian aged naturally fractured carbonate reservoirs. Development through horizontal wells to optimize access to fracture systems
