?Dr. David Winter reports

HORIZON PETROLEUM LTD. ANNOUNCES CONVERTIBLE DEBENTURE FINANCING

Horizon Petroleum Ltd. has launched a financing of convertible debentures. The convertible debenture financing takes the form of a private placement offering in the aggregate principal amount of $200,000 of secured convertible debentures at a price of $1,000 per debenture. The debentures will be second position secured behind the $720,000 of debentures issued May 20, 2025, and due May 20, 2026.

The debentures bear interest from the applicable issuance date at 15 per cent per annum until the date that is 24 months following the closing date. The closing date is anticipated shortly. The principal amount of the debentures can be convertible into units of the company at the option of the holder at any time prior to the close of business on the last business day immediately preceding the maturity date, at a conversion price of 10 cents per unit, subject to adjustment in certain events.

Each unit comprises: (i) 10,000 common shares of the company; and (ii) 5,000 common share purchase warrants. Each warrant will be exercisable to acquire one common share at an exercise price of 15 cents per common share, subject to adjustment in certain events, until 36 months from the debenture closing date.

Closing of the offering remains subject to the approval of the TSX Venture Exchange.

The company may pay finders' fees or commissions for this transaction of up to 7 per cent in cash and 7-per-cent warrants.

The closing of the offering is subject to the satisfaction of customary conditions, including the approval of the TSX-V. All securities issued under the offering remain subject to a statutory four-month hold period.

About Horizon Petroleum Ltd.

Calgary-based Horizon is focused on the appraisal and development of conventional oil and natural gas resources onshore Europe. Horizon holds two concessions in Poland which contain significant undeveloped natural gas discoveries. The company's initial focus is to commence development of the Lachowice gas field in the Bielska-Biala concession. The management and board of Horizon consist of oil and natural gas professionals with significant international experience.

We seek Safe Harbor.