Petro Horizon Energy Corp.

Petro Horizon Energy Corp.

March 10, 2009 16:14 ET

Petro Horizon Energy Corp.: Hammond #1 Well Workover to Begin

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2009) - PETRO HORIZON ENERGY CORP. (TSX VENTURE:PHE) is pleased to announce that the scheduled work over of the Hammond #1 Well at the New Waverly Prospect in San Jacinto County, Texas is getting underway.

The Company has been informed by the operator, SK & Company LLC of Dallas, Texas, that the drilling contractor, Key Energy Services, is moving a service rig on location, rigging up and commencing operations tomorrow, March 11, 2009.

The Hammond #1 Well was drilled in June 2007 to a total depth of 3,200 feet. Logs indicated several prospective zones with the primary and secondary targets being the 1st and 2nd Jackson sands. The well was initially completed and placed in production from the 2nd Jackson sands at approximately 3,000 feet. The well was flow tested on a 6/64ths choke, an 8/64ths choke and a 10/64ths choke. The well flowed at stable rates of 264 MCF, 461 MCF and 611 MCF dry gas per day respectively with stabilized flowing tubing pressures of 1,135 PSI, 1,120 PSI and 1,080 PSI respectively. The well produced from the 2nd Jackson sands from September 2007 until it was shut-in in October 2008. The well is being re-entered for servicing and to perform a completion in the 1st Jackson sands at approximately 2,800 feet, the primary target in this well.

The New Waverly prospect currently comprises approximately 4,200 gross acres. Exploration potential exists in the Vicksburg/Jackson, Yegua, Cook Mountain, Wilcox, and Woodbine formations. Up to fifty-two shallow wells are proposed to develop the Vicksburg/Jackson formations.

Horizon holds a 25% working interest in the initial 400 acre phase of the prospect where the Hammond #1 Well is situated, and holds a 37.5% working interest in the balance of the prospect. Further wells are currently being planned for New Waverly. Drilling schedules will be announced as they are formalized.

About SK & Company

SK & Company is the operations arm of Dallas, Texas based SK & Co. Oil & Gas Partners, an oil and gas syndicated fund entity which holds a major working interest in New Waverly. SK & Company has recently opened new premises in Houston, Texas from which a team of qualified, dedicated experts will be utilized to manage drilling, development and further exploration of the New Waverly Prospect.

Petro Horizon Energy Corp.

Petro Horizon Energy Corp. is an emerging oil and gas exploration and production company building a high quality asset base in focused areas throughout the United States. For more information, please visit

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 Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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