Horizon Resources Inc.: Unveiling Poland's Gas Potential with 34 BCF 2P Reserves and 163 BCF 2C Contingent Resources
Tuesday, Jan 14, 2025 4:17 pm ET
1min read Horizon Resources Inc. (TSXV: HPL) has recently announced a significant discovery in Poland's energy sector, with the acquisition of the Bielsko-Biala concession. The company has reported 34 billion cubic feet (BCF) of 2P reserves, with a net present value (NPV10) of US$ 84 million, and an impressive 163 BCF of 2C contingent resources, valued at US$ 431 million. These findings highlight the substantial potential of Poland's gas reserves and the strategic importance of Horizon's recent acquisition.
The 34 BCF of 2P reserves, with an NPV10 value of US$ 84 million, represent a robust economic base for Horizon. These reserves are expected to provide a reliable source of cash flow, supporting the company's operations and growth initiatives. The 2P reserves are backed by historical wells that have been flow tested at rates up to 9 MMscf/d, demonstrating the commercial viability of the resource.
The 163 BCF of 2C contingent resources, with an NPV10 value of US$ 431 million, offer Horizon a large development upside. These resources are risked, meaning they are subject to significant uncertainties, but they represent a substantial potential for future cash flows and growth. The contingent resources are supported by historical wells, which have confirmed gas columns ranging from 130m to over 300m, indicating the significant potential of the resource.
Horizon's acquisition of the Bielsko-Biala concession is a strategic move that positions the company well for future growth and success in Poland's energy sector. The concession contains the significant Lachowice gas field, which has been independently evaluated to contain probable reserves and contingent resources. The acquisition follows Horizon's transformation process, which involved submitting documentation to the Polish Ministry of Climate and Environment for the Bielsko-Biala and Cieszyn concessions.
In conclusion, Horizon Resources Inc.'s acquisition of the Bielsko-Biala concession in Poland has unveiled significant gas potential, with 34 BCF of 2P reserves and 163 BCF of 2C contingent resources. These findings highlight the substantial potential of Poland's gas reserves and the strategic importance of Horizon's recent acquisition. The company's strong financial position and experienced management team position it well to capitalize on this opportunity and drive future growth in the Polish energy sector.
Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.
