Horizon Petroleum has agreed a Letter of Intent with an unnamed private European company for 50% WI in the 32/2009/p Bielsko-Biala concession. In return the farmee will fund 100% of the capital expenditures required to bring the Lachowice gas field online. This includes all costs related to drilling, completing and testing the first well and surface production equipment. Costs are expected to total approximately C$10.5 million (approximately US$8 million), however following first production future expenditures and profits will be shared equally. The first well is expected Q1 2019 with production in Q4 2019, initially estimated at 3 MMcfg/d. The Joint Venture (JV) is dependent on confirmation of the farmee's financial capacity, regulatory approvals and formal documentation, and completion of Horizon's pending acquisition of the concession from San Leon. Horizon entered an agreement with San Leon for 100% interest in five concessions in a two-part deal announced on 19 September 2017. Horizon will first acquire 100% of 32/2009/p Bielsko-Biala, as well as 69/2009/p Cieszyn, for US$ 1 million cash and C$1 million (US$ 815,000) worth of Horizon shares, and a 6% retained net profit interest (NPI) in the concessions. The acquisition is expected to close Q3 2018 following Horizon's plans to raise up to C$ 5 million (US$ 3.8 million) in a private placement of up to 100 million common shares of Horizon at a price of C$0.05 per share. The private placement is expected to be used to complete the acquisition as well as fund development of the assets and for general corporate expenses. 32/2009/p Bielsko-Biala (800 sq km) is located in the Slaskie Region of Southern Poland, within the North Carpathian Basin, and was awarded in May 2009. The Lachowice gas field was discovered on the concession by Lachowice 1 (1984, PGNiG, 4,525m) which encountered gas in compartmentalised Devonian carbonates. Subject to approval of the asset sale to Horizon Petroleum, San Leon subsidiary Energia Karpaty Zachodnie Sp zoo Spkom operates the licence with 100% equity. 
Horizon has signed a LoI with an undisclosed European co. to farm out a 50% non-operated stake in the 32/2009/p Bielsko-Biala contract, 805kmÂ² in the S. Poland. This contains the undeveloped Lachowice gasfield for which updated plans are now to bring it to production.