Horizon Industries Ltd.
TSX VENTURE : HRZ

Horizon Industries Ltd.

October 26, 2006 14:56 ET

Horizon Updates Tie-In Schedule at Horizon Funk #1 and Announces Schedule for Horizon Funk #2

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2006) - Horizon Industries Ltd. (TSX VENTURE:HRZ) is pleased to announce that tie in to sales of the Horizon Funk #1 Well is nearing completion and sales are expected to commence on or about November 1, 2006.

Prior to going to sales, inspection and testing of existing pipeline revealed that a new sales line was required. Installation of the new pipeline to sales is scheduled to commence on Monday, October 30 and is expected to take two days to complete. Sales will commence immediately thereafter. All other aspects of tie in are complete.

Preparations are also currently underway to commence drilling of the Horizon Funk #2 well. Site preparation for this well is set to commence on Monday, October 30. Horizon has received confirmation that Edde Drilling is planning to mobilize the drilling rig in approximately three to four weeks. The Horizon Funk #2 well will be drilled to a total depth of 6,000 feet to test a strong amplitude anomaly in the Middle Yegua formation between 5,500 feet and 5,700 feet.

Horizon Industries Ltd currently owns a 79% working interest in the Funk Prospect.

About the Funk Prospect

The Funk Prospect is located in the G. Barrera survey A-2 in Goliad County and consists of two tracts of land comprising 240 acres and 160 acres. The Funk Prospect is situated in the prolific Middle Yegua gas trend, a formation that has produced gas and condensate in the nearby Maetze Yegua, Perdido Creek and Jobar fields.

The Perdido Creek field, located one and a half miles northeast of the Funk Prospect. Perdido Creek hosts seven producing wells with cumulative production of approximately 3-4 Bcf and 80,000 bbl. of oil and condensate from the Yegua sands. The best well in Perdido Creek, the Vrazel #1 produced 1.8 BCF and 30,000 barrels of oil and condensate from a 90' sand covering 36 acres. These Yegua sands appear to be similar to that underlying the Funk prospect which hosts 2D defined Yegua sand bodies of 35 to 50 acres in aerial extent.

The Maetze Field, is located 3,500 feet to the southeast of the Funk lease. Total production from this field was approximately 5 BCF. The best well in this field, the Cron Dreier, drilled in the early 1950's blew out for over six months releasing up to 2 BCF of gas before being shut-in.

About Horizon Industries Ltd.

Horizon Industries Ltd. is an emerging oil and gas exploration and production company building a high quality asset base in focused areas throughout the United States. The Company is currently developing strategic alliances in high impact oil and gas plays in Western Canada. For more information, please visit www.horizonindustriesltd.com.

On Behalf of the board of directors,

Christopher Wensley, President

WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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