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Horizon Energy Completes Oil and Gas Lease Option Agreement in East Texas

HOUSTON--(BUSINESS WIRE)--Horizon Energy Corporation (OTCQB:HORI) today announced it has signed an option agreement for leases known as the Holmes Oil Unit Number 1 in the East Texas counties of Cherokee and Rusk. The land under consideration consists of 82.89 acres located in the Pettit formation close to the town of Rusk, which is the Cherokee county seat. The agreement with Ponta E&P LLP is the second project in Horizon’s ongoing efforts to identify prospective opportunities for the exploration, development and production of domestic oil and gas.