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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 Shabeel North Well Update

23/07/2012 7:00am

Marketwired Canada


Horn Petroleum Corporation ("Horn Petroleum" or the "Corporation") (TSX
VENTURE:HRN) provides the following update on the Shabeel North well in
Puntland, Somalia. 


An open hole Drill Stem Test (DST) was conducted over a 50 metre gross interval
which contained several sands in the upper portion of the primary Jesomma
Formation which had oil shows. The test recovered fresh water (1200 ppm Cl-)
without any traces of oil. The current plan is to drill ahead to the originally
planned depth of approximately 2400 metres which will penetrate the remaining
section of Jesomma sands at which point the entire section will be evaluated by
electrical logging to determine if further testing is warranted.


The well is being operated by Horn Petroleum which holds a 60% working interest
in the Dharoor and Nugaal Valley Production Sharing Agreements ("PSA's") along
with working interest partners Range Resources (20%) and Red Emperor (20%).
Africa Oil Corp. holds an equity interest in Horn Petroleum of approximately
45%. 


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.


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