AUS
NZ
UK
CA
USA
IND
Highlights
Horizon Petroleum secures all required permits for the L7 workover operation
Lachowice 7 well set to deliver initial production and first operational cashflow
Preparations for early production facility continue in southern Poland
Horizon Petroleum Ltd. (HPL), listed on the TSX Venture Composite Index, has provided an update on its ongoing operational developments in Poland. The company’s focus remains on advancing preparations for first production at its Lachowice gas development, located in the Bielsko-Biala concession area in southern Poland.
This operational progress follows Horizon’s previously announced intentions to establish production from the Lachowice 7 (L7) well. With the successful receipt of all necessary permits and approvals, the company confirms that preparations remain on schedule.
L7 Workover Operation Fully Permitted
Horizon has confirmed that all permits required to initiate the L7 workover operation have been granted on time. This milestone allows the company to move forward confidently with its plan to bring the well into production. According to the latest update, these developments are consistent with Horizon’s initial schedule and operational roadmap.
The L7 well targets naturally fractured limestone and dolomite reservoirs within Devonian-aged formations. Success in this phase is expected to provide long-term insight into the performance of these reservoirs and supply an early source of operational cashflow from gas or power.
Preparatory Work Progressing at Lachowice
Current activity includes ongoing preparations for the L7 workover operation. In addition, Horizon has filed the Environmental Impact Assessment (EIA) Permit with the Ministry of Climate and the Environment. This filing marks a step forward in the establishment of the early production facility for the project.
The company has stated that engagement with relevant stakeholders remains a priority as it progresses through its initial development program. Field operations are aligned with previously outlined timelines, ensuring continued momentum toward first production.
Strategic Milestone for Horizon’s European Development
The Lachowice project is a cornerstone asset in Horizon’s European portfolio. The successful workover of the L7 well and subsequent would mark a significant milestone in the company’s operational development. This initiative also represents Horizon’s first step toward revenue-generating activities in Poland.
The project’s alignment with regional energy infrastructure and Horizon’s local permitting success positions the company for continued development in the region. Further updates on field activity and production status are expected as the development progresses.
Horizon Petroleum Ltd. trades under the ticker TSXV: HPL on the TSX Venture Composite Index and is also listed on the Frankfurt Stock Exchange under FRA: HPM and Tradegate Exchange under HPM.
