Dr. David Winter reports

HORIZON PETROLEUM ANNOUNCES GRANT OF STOCK OPTIONS

Horizon Petroleum Ltd.'s board of directors has approved the grant of stock options exercisable for a total of 2,185,000 common shares, of which 1.36 million were granted to its directors and officers. All options were granted pursuant to the company's stock option plan and are subject to the terms of the applicable grant agreements and the requirements of the TSX Venture Exchange.

The options were granted at an exercise price of 24 cents and expire on July 24, 2031. The options vest one-third on grant and one-third on the first and second anniversary dates. The options are subject to TSX-V acceptance. The corporation relied on exemptions provided for by Multilateral Instrument 61-101 for the grant of options to the directors and officers of the company as the fair market value of the grant of options is less than 25 per cent of the market capitalization of the company.

About Horizon Petroleum Ltd.

Calgary-based Horizon Petroleum is focused on the appraisal and development of conventional oil and natural gas resources to increase energy independence and security in 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.