Investment Opportunity

The Horizon Energy companies hold a material acreage position on the Mid North Sea High (“MNSH”), that covers nearly 2,400kms². The acreage covers the most prospective area of the Zechstein Z2 Carbonate oil and gas play. Numerous producing oil and gas fields in the Permian Basin in the UK, Netherlands, Germany, Poland and Denmark, plus recent oil and gas discoveries both onshore UK and in proximity offshore, demonstrate the viability and potential commerciality of the exploration prospects within the extensive licensed acreage of approximately 10 North Sea Blocks.

 The Licences have extensive coverage of 2,981 km² of ION Geophysical 3D seismic recently acquired in 2020 and 2021. This data is of excellent quality and will be enhancing a large prospect inventory mapped on previously acquired partial 3D coverage from 2019 and 2D seismic data. Large robust prospects have been interpreted that make attractive and easy drilling targets for low cost, shallow water exploration wells.

The top 12 prospects have prospective resource potential of 2.54 billion barrels of oil.

The economics for an oil field development case with reserves of 150 million barrels are robust with an NPV10 at $70 oil price of $2.4 Billion, IRR 80%, and NPV10 at $50 oil price of $1.5 Billion, IRR 64%.

An investment presentation can be downloaded below.