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*VANCOUVER**, British Columbia* ? April 15, 2009 ? *PETRO HORIZON ENERGY CORP. *(*TSXV.PHE*), announces results of the work over of the Hammond #1 Well at the New Waverly Prospect in San Jacinto County, Texas.
The drilling contractor, Key Energy Services, moved a service rig on location and pulled tubing from the well bore. The well bore was sanded up around the 3,100? perforations in the 2nd Jackson sands. Attempts to clear the sand were unsuccessful.
The primary target, the1st Jackson sands at 2,800? was then perforated producing uneconomic gas, with sand and water. However, during the initial drilling through this zone, the rig broke down resulting in damage to the zone. Subsequent cement bond logs confirmed a poor bond over this zone.
Based on knowledge gathered from our first Jackson well, the Hammond #1, it is believed a completion package (gravel pack) can be designed to successfully complete and produced from the Jackson formations. We intend to return to the Jackson at a later date once significant production has been established from other formations at New Waverly. The Company?s proportionate share of work over expenses was approximately US$17,000.
The Hammond #1 Well was drilled in June 2007 to a total depth of 3,200 feet. Logs indicated several prospective zones with the primary and secondary targets being the 1st and 2nd Jackson sands. The well was initially completed and placed in production from the 2nd Jackson sands at approximately 3,000 feet. The well was flowed tested on a 6/64ths choke, an 8/64ths choke and a 10/64ths choke. The well flowed at stable rates of 264 MCF, 461 MCF and 611 MCF dry gas per day respectively with stabilized flowing tubing pressures of 1,135 PSI, 1,120 PSI and 1,080 PSI respectively. The well produced from the 2nd Jackson sands from September 2007 until it was shut-in in October 2008.
Our next phase of exploration is to shoot a 2D seismic program designed to determine the aerial extent of a structure in the Cook Mountain formation at 5,800?. The operator has currently targeted a well location to test the Cook Mountain formation and results of the 2D data will refine the location of this well, if necessary, and establish further potential well locations to fully develop this feature. The 2D seismic data will also assist in further delineating Wilcox targets at approximately 11,500 to 13,000 feet.
The New Waverly prospect currently comprises approximately 4,200 gross acres. Exploration potential exists in the Vicksburg/Jackson, Yegua, Cook Mountain, Wilcox, and Woodbine formations. Up to fifty-two shallow wells are proposed to develop the Vicksburg/Jackson formations.
Horizon holds a 25% working interest in the initial 400 acre phase of the prospect where the Hammond #1 well is situated, and holds a 37.5% working interest in the balance of the prospect. Further wells are currently being planned for New Waverly. Drilling schedules will be announced as they are formalized.
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*Petro Horizon Energy Corp.*
Horizon Industries Ltd. is an emerging oil and gas exploration and production company building
a high quality asset base in focused areas throughout the United States. For more information, please visit www.petroHorizonEnergy.com
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On Behalf of the board of directors,
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*?Christopher Wensley?*
Christopher Wensley, President
*Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.*
*Suite 1710** ?** 1040 West Georgia Street Vancouver, B.C., V6E 4H1*
Investor Relations Enquiries: Princeton Research Corporation ? Las Vegas, NV, (702) 650-3000, mike@princetonresearch.com; Petro Horizon Energy Corp, Vancouver, BC, info@petrohorizonenergy.com