Horizon Petroleum Ltd. · TSXV:HPL
Horizon Petroleum — ENERCOM Denver – The Energy Investment Conference (August 2026)
29 slides from Horizon Petroleum's conference presentation, Aug 18, 2026
Slide 1: Building a Leading European Natural Gas Company
IN V ES TOR P RE SE N TATIO N · AUG UST 1 8 2 02 6 E NE R COM DE NV E R – THE E NE R GY IN VE ST ME N T C ON FE R E NC E DE N VE R , C OLOR AD O Building a Leading European Natural Gas Company An early-stage opportunity to build a leading conventional gas production company in Europe — anchored by a
Slide 2: Building a Leading Natural Gas Production Company in Europe
THE V ALUE PROP OSITION Building a Lead ing N atural Gas Production C om p any in Europ e 01 02 03 Cornerstone Polish Assets Large, Discovered Resource Operations Underway to First Gas 100% operated interest in two onshore Lachowice: >1 TCF gas in place, discovered and A clear, low-risk path targeti
Slide 3: Investment Summary & Capital Needs
THE VAL UE Investment Summary & Capital Needs Horizon has completed raising CAD$10MM to fund the workover and production testing of the Lachowice 7 gas well. Phase 1 early-production program — establishing initial production and cash flow in Q3 2027, scaling to over US$100MM/yr net cash flow by 2029
Slide 4: European Natural Gas: Strong Fundamentals
M AR KET BACKDR OP European Natural Gas: Strong Fundamentals DOMESTIC SUPPLY IN STRUCTURAL DECLINE DEMAND CONTINUES TO GROW • Legacy North Sea and Dutch gas fields are mature and declining. • Natural gas comprises ~21% of the European energy matrix. • Pre-2022, 86% of supply came from three countrie
Slide 5: The Polish Natural Gas Market
WHY POLAND The Polish Natural Gas Market • Rising demand with increasing imports and flat domestic gas production. • Strong political push to find alternative sources of gas to replace Russian supply. • Strong political and environmental push to replace coal — still ~60% of Polish power generation.
Slide 6: Polish Assets: The Foundation Position
THE FOUNDATION Polish Assets: The Foundation Position 197 Bcfe 2P + RISKED 2C US$519MM + BEFORE-TAX NPV 10 1.2 TCF GAS IN PLACE US$1.6MM ACQUISITION COST • 100% operated interest in two conventional gas development assets in Poland — potentially the largest undeveloped gas field in the country. • 1,
Slide 7: Lachowice Gas Field
THE CO RNERS TONE AS SET Lachowice Gas Field A large gas accumulation in the Carpathian foothills — never produced, and targeting first cash flow in Q3 2027. • 950 km of legacy 2D seismic; discovered with Lachowice-1 in 1986, with seven wells drilled 1986–1996. • Gas columns of 130 m to >300 m; test
Slide 8: Lachowice Gas Field: Reserves & Resources
THE CO RNERS TONE AS SET Lachowice Gas Field: Reserves & Resources Risked Reserves & Resources Net Present Value (NPV10) NI 51-101 certified by APEX Global Engineering · BCF (risked) Before-tax · US$ millions 2C Risked Contingent 163 BCF · 52% 2C Risked Contingent 316 Prospective (risked) 519 US$436
Slide 9: A Phased Path to 40+ mmscf/d
THE PLAN A Phased Path to 40+ mmscf/d 40+ MMscf/d PEAK PRODUCTION +100 /yr NET CASH FLOW. US$MM 519 NPV 10 US$MM 2029/30 PRODUCTION RAMP-UP P H A S E 1 · IN ITI A L D E V E L O P M E N T P H A S E 2 · F U L L F IE LD DE V E L O P M E N T P H A S E 3 · E X P A N S IO N First Gas & Cash Flow — Q3 2027
Slide 10: Lachowice-7: Rig on Site
OPERATIONS UNDERWAY Lachowice-7: Rig on Site Phase 1 operations commenced in July 2026. The CAD$10MM raised is funding transaction costs, the re-entry, workover and production testing of the Lachowice-7 well — the first step on a path to first gas and cash flow in Q3 2027. • Permits and approvals in
Slide 11: A Clear Path to Cash Flow
FORECAST PRO DUCTION AND CASHFLOW A Clear Path to Cash Flow Production Profile & Cumulative Output Phase 1 + Phase 2 · MMcf/day and cumulative BCF • Phase 1 establishes early production and US$4–5MM/yr operating 50 Production Cum. Recovery 200 income at low capital intensity. • Phase 2 lifts product
Slide 12: Cieszyn Concession — Low-Cost Drill Runway
RUNNING ROOM Cieszyn Concession — Low- Cost Drill Runway On trend with multi-BCF fields across the Czech border — an inexpensive, low-risk play that complements the deeper, high-impact Lachowice development. • High quality, shallow (400–1000 m) Miocene-aged sandstone reservoirs, with underlying Carb
Slide 13: A Foundation to Build Across Europe
GROWTH A Foundation to Build Across Europe CEMENT THE BASIN POSITION BUILD ACROSS EUROPE • Lachowice & Cieszyn are the foundation to build a significant • A pipeline of M&A across Poland, Eastern and Central Europe to gas-weighted energy company in Europe. increase domestic production and offset imp
Slide 14: Capital Structure
CAPITALIZATION Capital Structure $0.30 CAD SHARE PRICE · August 13, 2026 $27.0MM CAD MARKET CAPITALIZATION 91.4MM SHARES OUTSTANDING 131.4MM FULLY DILUTED LISTING & TRADING OWNERSHIP ALIGNMENT •TSXV: HPL · FRA: HPM · Tradegate: HPM. •52-week high / low: CAD $0.30 / $0.04. •Fully diluted shares inclu
Slide 15: Corporate Information
WHY INVEST NOW Corporate Information CONTACTS •A large, discovered, de-risked resource — >1 TCF gas in place, tested but never produced. Dr. David A. Winter •Operating towards first gas and cash flow in Q3 2027, with CHIEF EXECUTIVE OFFICER permits and approvals in place. +1 403-619-2957 · dawinter@
Slide 16: Forward-Looking Information
DIS CLA IMER Forward-Looking Information This information contained in this corporate presentation and the accompanying verbal presentation The forward-looking information is based on certain key expectations and assumptions made by the Readers are cautioned that the foregoing lists of factors are n
Slide 17: Cautionary Statements
DIS CLA IMER Cautionary Statements The information and opinions contained in the Presentation are provided as at the date Neither the Company nor any of its respective directors, officers, employees, advisers or of the Presentation and are subject to change. The Company does not have an agents accep
Slide 18: Appendix
Appendix Supporting detail on the subsurface and reserves, phased capital requirements, and the full risk advisory and resource definitions behind this presentation. A1 Management Bios A6 Forecast Production & Cash Flows A2 Board of Directors Bios A7 Operating Economic Metrics A3 Subsurface & Struct
Slide 19: Management: International Experience
APPENDIX A1 Management: International Experience CHIEF EXECUTIVE OFFICER PRESIDENT & COO CHIEF FINANCIAL OFFICER Dr. David Winter Roger McMechan Ian Habke 40 years in technical, management and leadership 40 years of engineering experience managing Chartered Accountant with over 30 years in the oil r
Slide 20: Board of Directors
APPENDIX A2 Board of Directors DIRECTOR DIRECTOR DIRECTOR John Wright Trevor Williams Riccardo M. Monti Over 40 years in oil & gas. Chairman of Alvopetro Over 20 years as a manager, entrepreneur and senior Executive Chairman of Triboo, a Milan-listed leader Energy and Grounded Lithium; President of
Slide 21: Lachowice — Subsurface & Structure
APPENDIX A3 Lachowice — Subsurface & Structure DATABASE & DRILLING • 950 km of legacy 2D seismic; discovered with Lachowice-1 in 1986. • Seven wells drilled 1986–1996; tested at rates up to 8.9 MMscf/d. • Gas columns 130 m to >300 m. • Productivity impaired by poor drilling and completion practices.
Slide 22: Reserves & Resources Detail
APPENDIX A4 Reserves & Resources Detail 34.4 BCF 163 BCF 119 BCF 1.2 TCF 2P RESERVES 2C RISKED PROSPECTIVE RISKED GAS IN PLACE RESERVES & RESOURCES (NI 51-101) CLASSIFICATION & FISCAL • 2P: 34.4 BCF; US$83.6MM NPV10 — assigned to Lachowice-1, • Risked contingent resources in the fractures and tight
Slide 23: Phased Capital Requirements
APPENDIX A5 Phased Capital Requirements PHASE 1 — US$10MM (OPERATIONS UNDERWAY) PHASE 2 — US$52.5MM (WITH JV PARTNER) $2.0MM $3.5MM $24.0MM $16.5MM L-7 WORKOVER & TEST EPF & TIE-IN 2 DIRECTIONAL WELLS CENTRAL PROCESSING FACILITY Funded $2.5MM $2.5MM $12.0MM +$100MM PAST COSTS (LICENCES) 16 KM EXPORT
Slide 24: Forecast Production & Cash Flows
APPENDIX A6 · ECONOMICS Forecast Production & Cash Flows Production — mmcf/day Production 2026 2027 2028 2029 2030 2031 2032 2033 Avg Rem. Field Life Phase 1 — G2P 0.0 1.1 1.8 0.0 0.0 0.0 0.0 0.0 0.0 Phase 2 — Full 0.0 0.0 0.0 16.3 42.9 40.1 40.8 41.5 15.8 Development Total 0.0 1.1 1.8 16.3 42.9 40.
Slide 25: Operating Economic Metrics
APPENDIX A7 · ECONOMICS Operating Economic Metrics Government take (royalties & taxes): 20–25% — among the lowest in Europe. Metrics shown for the base case and three downside sensitivities. Sensitivities Metric Base −25% Reserves −25% Price +25% Capital NPV10 After-Tax (US$MM) 495 317 304 452 Findi
Slide 26: Risk Advisory
APPENDIX A8 Risk Advisory The reserve and resource estimates of natural gas and natural gas liquids reserves provided in this • the risks in acquiring or constructing adequate natural gas infrastructure to produce and sell presentation are estimates only, and there is no guarantee that the estimated
Slide 27: Risk Advisory (Cont’d)
APPENDIX A9 Risk Advisory (Cont’d) Estimates of resources always involve uncertainty, and the degree of uncertainty can vary widely High Estimate and/or 3C in the case of Contingent Resources: This is considered to be an optimistic Boe means a barrel of oil equivalent on the basis of 6 Mcf of natura
Slide 28: Resource Definitions
APPENDIX A10 Resource Definitions Total Petroleum Initially in Place (“PIIP”) refers to the total quantity of petroleum that is estimated to Future Production is sub-classified as reserves, contingent resources or prospective resources. Reserves are classified according to the degree of certainty as
Slide 29: Resource Definitions (Cont’d)
APPENDIX A11 Resource Definitions (Cont’d) Possible Reserves are those additional reserves that are less certain to be recovered than probable Not all technically feasible development plans will be commercial. The commercial viability of a Contingent Resources –Development Pending and –Development O
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