Toronto, Ontario – TheNewswire - May 26 2025 – Blue Horizon Global Capital Corp. (CSE: BHCC) (the "Corporation") today announced a strategic review of its oil and gas holdings, managed through its wholly-owned subsidiary, Mooncor Energy Inc. The Corporation is currently evaluating the potential reactivation of Well #4-28, one of its two oil wells situated in Lloydminster, Alberta (collectively, the "Wells").

The Corporation has been notified by its partners, who maintain a 40% interest in Well #3-28, of their intention to abandon this well. This development presents the Corporation with an opportunity to either assume full control of Well #3-28 or participate in its abandonment. The Corporation must finalize this decision by June 12, 2025.

Any potential reactivation would require minimal repairs to optimize the Well for maximum production efficiency. According to an independent property evaluation with an effective date of December 31, 2015, available on the Corporation's SEDAR+ profile at www.sedarplus.ca, these Wells are estimated to contain approximately 40,000 barrels of recoverable oil.

The successful reactivation of these Wells is expected to restore the Corporation to active production status, thereby strengthening its operational capabilities and enhancing overall asset value.

In addition to these Wells, the Corporation plans to assess the current status of its five other wells in response to a formal request from the Alberta Energy Regulator (AER). Following this comprehensive evaluation process, the Board of Directors will formulate the Corporation's mid-term and long-term strategic direction.

It should be noted that the evaluation and any subsequent reactivation activities are contingent upon the Corporation securing appropriate financing. Therefore, there can be no guarantee that the Corporation will successfully reactivate any of its wells.

The Corporation will also like to announce that:

1. (i)further to its press release dated January 29, 2024, the Corporation has terminated the securities purchase agreement dated as of January 26, 2024 with Miss Globe Group Inc.; and 

2. (ii)further to its press release dated April 12, 2024, the Corporation has terminated the letter of intent dated as of April 2, 2024 with a private company engaged in the oil trade sector. 

About Blue Horizon Global Capital Corp.

The Corporation is an investment company whose primary objective is to identify promising companies with excellent projects, innovative technologies or both, using management’s extensive experience in deal sourcing and capital combination to maximize returns for its shareholders. Blue Horizon will invest its funds with the aim of generating returns from capital appreciation and investment income. It intends to accomplish these goals through the identification of and investment in securities of private and publicly listed entities across a wide range of sectors and industry areas, including but not limited to the technology, software development and biotechnology industries.

Contact:

Alex MacKay

Interim Chief Executive and Financial Officer

email:        carriagehousecap@gmail.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the Corporation’s filings on SEDAR+ (www.sedarplus.ca), including but not limited to the ability to secure financing, the accuracy of historical reserve estimates, the success of reactivation efforts, oil price volatility, and operational risks. The Corporation assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.