#Poland #Horizon Petroleum #Bielsko-Biala #Lachowice #Gas Development

Horizon Petroleum Set to Commence Operations at Lachowice Gas Development

Horizon Petroleum Ltd., listed on the TSX Venture Exchange as HPL, is making strides in the energy sector with its latest operational update regarding the Lachowice gas development in southern Poland. This project is of particular importance as it showcases Horizon's commitment to enhancing Europe’s energy independence by tapping into its natural gas resources.

Progress Update on Lachowice Development

The company recently disclosed that arrangements for the construction of the Lachowice 7 well pad have been finalized, paving the way for field operations to kick off in the second week of June. Horizon's Chief Executive Officer, Dr. David Winter, expressed optimism about this advancement, as discussions are underway regarding a drilling rig contract essential for the well workover planned for July. Preparations are in full swing; all necessary components such as the wellhead and tubing have been procured and are already in Poland, poised for immediate use.

With a successful workover, the Lachowice 7 well is anticipated to provide Horizon with its first cash flow through gas and/or electricity sales. This initial production will serve as a critical evaluation of the naturally fractured Devonian limestone and dolomite reservoirs in the area, aiding in refining future wellbore completion designs and optimizing the entire field development plan.

Environmental Considerations and Utility Infrastructure

As part of its operational assessments, Horizon has submitted an Environmental Impact Assessment (EIA) permit application for the early production facility at Lachowice. The company expects to receive approval from the Regional Directorate for Environmental Protection by the end of this year. Furthermore, cooperation with the local utility provider has been secured to relocate power lines that intersect the wellsite, ensuring seamless access for heavy equipment and construction efforts.

Future Projections

Horizon aims to achieve initial gas and electricity sales, contributing to cash flow by the latter half of 2027. Each step taken throughout this process is crucial as production data from the Lachowice 7 well will provide insights into reservoir performance, enabling the company to accurately assess its resources and strategically plan its development.

To further solidify its long-term goals, Horizon has orchestrated detailed surveying activities for a comprehensive 3D seismic program encompassing 75 km² of the Lachowice project area. The acquisition of this seismic data is set to begin in the second quarter of 2027. In tandem, discussions have been initiated with local gas distribution operators to ensure efficient access to the necessary transportation infrastructure for future phases of development.

Additionally, talks with local municipalities are ongoing regarding the rezoning of lands designated for the planned gas processing facility and future well sites, facilitating necessary industrial use expansions.

Conclusion

In summary, Horizon Petroleum is poised to significantly impact the European energy landscape as it moves forward with operations at the Lachowice gas development, marking a pivotal point in its mission to deliver secure and sustainable energy solutions. This initiative not only signifies progress for Horizon but also represents a step towards greater energy independence for the region.

For more information, visit Horizon Petroleum.