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HRN

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Share Name Share Symbol Market Type
TSXV:HRN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Horn Petroleum Provides Operational Update

15/11/2012 12:00pm

Marketwired Canada


Horn Petroleum Corporation ("Horn" or the "Company") (TSX VENTURE:HRN) pleased
to provide the following update on its exploration operations in Puntland
(Somalia). 


Horn has demobilized the drilling rig and associated equipment and has completed
restoration of both drilling locations. Efforts are now focused on making
preparations for a seismic acquisition campaign in the Dharoor PSA which will
include a regional seismic reconnaissance grid in the previously unexplored
eastern portion of the basin as well as prospect specific seismic to delineate a
drilling candidate in the western portion of the basin where an active petroleum
system was confirmed by the recent drilling at the Shabeel-1 and Shabeel North-1
locations. This seismic program is expected to commence in the first half of
2013. The Company continues to pursue efforts to drill an exploration well in
the Nugaal PSA and is working with the Puntland government authorities to move
this project forward.


Horn is in active discussions with potential joint venture partners and also is
reviewing new venture opportunities in the region. 


Horn President and CEO, David Grellman, commented, "We remain very encouraged by
the exploration potential of these Jurassic rift basins in Puntland. We have
committed to the next exploration phase in both PSAs and plan to aggressively
explore both areas to confirm this potential. We are also optimistic that the
political progress in Somalia will continue and allow oil and gas exploration in
the region to expand."


Horn holds a 60% working interest in the Dharoor and Nugaal Valley blocks and is
the operator. The other partners in the blocks are Range Resources (20%) and Red
Emperor (20%). Africa Oil Corporation holds an approximate 45% equity interest
in Horn. 


Horn Petroleum Corporation is a Canadian oil and gas company with assets in
Puntland, Somalia. The Corporation holds a 60% interest and operatorship in the
Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and
analogous to the large oil fields in Yemen. The Corporation's shares are listed
on the TSX Venture Exchange under the symbol "HRN".


ON BEHALF OF THE BOARD

David Grellman, President and CEO

FORWARD-LOOKING INFORMATION

Certain statements contained in this press release constitute forward-looking
information. These statements relate to future events or future performance. The
use of any of the words "will", "expected" and similar expressions and
statements relating to matters that are not historical facts are intended to
identify forward looking information and are based on the Company's current
belief or assumptions as to the outcome and timing of such future events. Actual
future results may differ materially. Various assumptions or factors are
typically applied in drawing conclusions or making the forecasts or projections
set out in forward-looking information. Those assumptions and factors are based
on information currently available to the Company. The forward-looking
information contained in this release is made as of the date hereof and the
Company is not obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as
required by applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue reliance on
forward-looking information. The foregoing statements expressly qualify any
forward-looking information contained herein. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Horn Petroleum Corporation
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
hornpetroleum@namdo.com
www.hornpetroleum.com

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