Horizon Petroleum reports AGM Results and New Director

JERSEY, Channel Islands, April 14, 2014 /CNW/ - Horizon Petroleum plc (the "Company") (TSXV: HPL), announces the results of its annual general meeting of its shareholders held April 11, 2014, including:

  1. re-appointment of Peter Clutterbuck, Yogeshwar Sharma and Read Taylor as directors of the Company;
     
  2. re-appointment of KPMG LLP, chartered accountants, as auditors for the ensuing fiscal year;
     
  3. the Company's 10% rolling stock option plan was ratified and approved; and
     
  4. the proposed amendment to the Company's Articles was approved, regarding the appointment of additional directors from time to time.

Each of the matters was approved by at least 99.9% of the votes cast. The full text of the matters considered, including the changes to the Articles, are set out in the Company's information circular prepared for the AGM, as filed under the Company's profile on SEDAR at www.sedar.com.

Immediately following the AGM, the directors re-appointed John Patterson as a director, and appointed Dr. Charle Gamba as a new director of the Company. 

Dr. Charle A. Gamba, has been the Chief Executive Officer and President of Canacol Energy Ltd., since October 2008.  Dr. Gamba is a senior executive with almost 20 years working experience in the US and international upstream oil and gas industry.  He has considerable expertise in the establishment and growth of public oil and gas companies listed on Canadian stock exchanges. Mr. Gamba served as a Vice President of Exploration at Occidental Oil & Gas Company from 2001 to 2008. In his seven years with Occidental, he worked in Ecuador, Qatar, Colombia, and the United States in a variety of technical management roles. He started his professional career as a geologist with Imperial Oil in Calgary in 1994.

Charle holds a PhD in Geology from the University of Toronto.

Commenting on Dr. Gamba's appointment, Yogeshwar Sharma, the Chairman of Horizon said:

"We are delighted that Charle has agreed to join our Board at a time when we are in the process of building the company's portfolio internationally, with an initial focus on projects with proven reserves and significant production potential.  Charle has a proven track record of delivering results in a competitive industry and we are confident that his experience and leadership qualities will ensure that we are successful in implementing our long term objectives"

ON BEHALF OF HORIZON PETROLEUM PLC

Peter Clutterbuck,
President and Chief Executive Officer

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Horizon Petroleum PLC

For further information: Horizon Petroleum plc, Queensway House, Hilgrove Street, St Helier, Jersey JE1 1ES, www.horizon-petroleum.com