07:25 AM EDT, 06/02/2025 (MT Newswires) -- Horizon Petroleum (HPL.V) over the weekend provided an operations update on progress made towards first production from its cornerstone Lachowice gas development in the Bielsko-Biala concession, southern Poland.

In a statement the company said in assuming a successful workover result, gas and/or electrical power sales from the Lachowice 7 (L7) well will provide it with its first cashflow and will provide a long-term test of the production performance of the naturally fractured, Devonian aged, limestone and dolomite reservoirs in the L7 well. "Preparatory work for the L7 workover is progressing on schedule," it added.

CEO David Winter said: "We are pleased with the continuing progress in our operations towards first production from the Lachowice 7 well. Board and Management recognise the efforts of our operating team in Poland in ensuring that the initial development program is executed as planned. We also recognise the very positive relationships that we enjoy with our neighbours at Lachowice, and the positive contributions from our contractors, local authorities and government."