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An announcement from Horizon Petroleum ( (TSE:HPL) ) is now available.
Horizon Petroleum Ltd. announced a C$7.5 million financing agreement with a syndicate of agents led by Haywood Securities Inc. The offering involves the sale of up to 75,000,000 units, each consisting of one common share and one warrant, with the proceeds intended for development capital and general corporate purposes. The funds will primarily support the initial development program at the Lachowice gas discovery in Poland, including the re-entry and workover of the Lachowice 7 gas well. This financing is expected to bolster Horizon’s operations and enhance its market positioning in the European oil and gas sector.
More about Horizon Petroleum
Calgary-based Horizon Petroleum Ltd. is focused on the appraisal and development of conventional oil and natural gas resources onshore in Europe. The company is managed by a team of oil and natural gas professionals with significant international experience.
Average Trading Volume: 153,661
Technical Sentiment Signal: Sell
Current Market Cap: C$5.82M
See more data about HPL stock on TipRanks’ Stock Analysis page.