Vancouver, British Columbia, September 29, 2011 - Horn Petroleum Corporation ("Horn Petroleum" or the "Corporation") reports that it has granted an aggregate of 3,935,000 incentive stock options, 3,350,000 of which were granted to certain officers and directors of the Corporation. The options are exercisable, subject to vesting provisions, over a period of three years at a price of $1.00 per share.
Horn Petroleum Corporation is a Canadian oil and gas company with assets in Puntland, Somalia. The Company holds a 60% interest in the Dharoor and Nugaal blocks encompassing a Jurassic Rift Basin on trend and analogous to the large oil fields in Yemen. The Company's shares are listed on the TSX Venture Exchange under the symbol "HRN".
ON BEHALF OF THE BOARD
President and CEO
For further information, please contact: Sophia Shane, Corporate Development (604) 689-7842.
FORWARD LOOKING INFORMATION
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to the satisfaction of the issuance of the final exchange bulletin in respect of the Qualifying Transaction and the listing of the Common Shares. The final exchange bulletin will not be issued if the TSX-V determines that the Corporation has not met the conditions set out in the TSX-V's conditional approval letter. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material factors and assumptions include the ability of the Corporation to meet the conditions for listing of the TSX-V. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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