Under the deal, Horizon will acquire a 20% in Gulf of Thailand blocks G1/48, G3/48 and G6/48 in return for paying 40% of the seismic and drilling costs for the Pearl-operated initial three-year work program.
Already, Horizon and Pearl Energy are partners in the G10/48 and G11/48 blocks, located elsewhere in the Gulf of Thailand.
Horizon described it as a "valuable" relationship, which was an important consideration for the new transaction.