Horizon Petroleum has completed a number of key management and Board of Directors changes, and intends to complete a non-brokered private placement financing.

The changes to the Company's management and Board are summarized as follows:

Peter Clutterbuck and Nigel Friend have resigned their positions of Chief Executive Officer and Chief Financial Officer of the Company, respectively; Each of Peter Clutterbuck, John Patterson and Read Taylor have resigned as directors of the Company; Each of David Winter and Derek Aylesworth have been appointed to the Board of Directors of the Company; David Robinson, the former VP Business Development for the Company, has assumed the role of interim Chief Executive Officer, pending completion of a search for a full-time replacement; Darren Moulds has been appointed as the new Chief Financial Officer; and David Winter has been appointed as "Business Development Advisor", and will work with David Robinson and the rest of the Board of Directors to investigate oil and gas opportunities in Africa.

Tags: Horizon Energy