Horizon Petroleum announces that due to market conditions, it will not be proceeding with private placement

Jersey, Channel Islands February 24, 2016 Horizon Petroleum plc (the “Corporation”) (TSX.V: HPL) announces that, due to market conditions, it will not be proceeding with the private placement previously announced on November 9, 2015.

For further information, please contact:

Dr. David Winter
President & CEO
+1 403 984 2444

David R. Robinson
VP Business Development
+1 403 399 9047

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Horizon Petroleum announces that due to market conditions, it will not be proceeding with private placement

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

HORIZON PETROLEUM