NEW YORK, Sept. 27, 2007 (PRIME NEWSWIRE) -- Wall Street Reporter recently published an exclusive interview with Christopher Wensley, President of Horizon Industries Ltd (TSX-V:HRZ), laying out the rationale behind his company's decision to add acreage to its South Texas gas project.
"It's got tremendous exposure to high-impact prospectivity," Mr. Wensley tells WSR. "But the real excitement for me was the shallow opportunity. The geologists suggest we could drill 40 wells on that acreage and that would translate into somewhere in the neighborhood of $600,000 or more per month in revenue."
The interview is now available in streaming audio and mp3 formats on www.wallstreetreporter.com.
Topics of interest to the investment community include:
- Why Horizon recently exercised its option to deepen its interest in the 3,100-acre prospect in order to exploit lower-cost, lower-risk gas while developing potentially higher-impact targets.
- Geological analogues to associated projects in the region that have produced hundreds of BCF of gas and millions of barrels of oil. "This really gets a lot of people's juices and excitement flowing."
- Plans to get 4-5 wells underway "as soon as possible" and start translating better-than-expected initial flows into sales.
- How an increasingly close relationship with the project's operator, Pan American Production, is securing the operational expertise to take the company to the next level.
"Our objective is to bring in revenue from production of $250,000 to $500,000 a month over the next 12 months, and then grow out from there," Mr. Wensley tells WSR. "We're embarking on a long-term drill program that will allow us to drill wells at the rate of 1-2 wells a month over the next few years on this property alone."
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Wall Street Reporter (Est. 1843) helps smart investors connect with exciting companies, through our website, magazines and conferences. We're probably best known for our exclusive interviews with industry-leading CEOs and the world's top investment experts.
About Horizon Industries Ltd
Horizon Industries Ltd is an oil and gas exploration company focused on deriving growth and profit by acquiring working interests established throughout North America. Current projects include prospects throughout Texas and Kansas, as well as southeast Saskatchewan, Canada.
Forward-Looking Statements
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business.