EXHIBIT 99.1
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Horizontal Ventures, Inc.
000 Xxxxx Xxxxxx, Xxxxx 0000
Xxx Xxxx, Xxx Xxxx 00000
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PROXY
FOR THE SPECIAL MEETING OF SHAREHOLDERS - MARCH 19, 1999
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF
HORIZONTAL VENTURES, INC.
The undersigned hereby appoints Xxxxxxx X. Xxxxxx, Chairman and
Chief Executive Officer of Horizontal Ventures, Inc., a Colorado corporation
("Horizontal Ventures"), with full power of substitution, the proxy of the
undersigned to represent and vote, as designated below, all shares of
Horizontal Ventures common stock, no par value ("Horizontal Ventures
Common Stock"), standing in the name of the undersigned with the powers
the undersigned would posses if personally present at the Special Meeting
of the Shareholders of Horizontal Ventures to be held on March 19, 1999 at
10:00 a.m. local time at the principal executive offices of Saba Petroleum
Company ("Saba") at 0000 Xxxxxxx Xxxxx, Xxxxx 000, Xxxxx Xxxxx, Xxxxxxxxxx,
and at any reconvened meeting after any adjournment or postponement thereof.
1. To approve the issuance by Horizontal Ventures of up to an
aggregate of 1,300,000 shares of Horizontal Ventures Common stock shares
(the "Horizontal Ventures Share Issuance") pursuant to the Agreement and Plan
of Merger dated December 18, 1998 among Horizontal Ventures, Horizontal
Ventures Acquisition Corporation (a wholly owned subsidiary of Horizontal
Ventures), and Saba.
[ ] FOR [ ] AGAINST [ ] ABSTAIN
2. To approve a change in the name of Horizontal Ventures to GREKA
Energy Corporation.
[ ] FOR [ ] AGAINST [ ] ABSTAIN
3. To approve the issuance of up to an additional 2,000,000 shares
of common stock for possible future acquisitions.
[ ] FOR [ ] AGAINST [ ] ABSTAIN
The Horizontal Ventures Board of Directors recommends that you vote "FOR"
each of the above
proposals.
4. On any and all other matters that may properly come before
the meeting.
This proxy, when properly executed, will be voted in the manner
directed herein by the undersigned shareholder. IF NO SPECIFIC DIRECTIONS ARE
GIVEN, THIS PROXY WILL BE VOTED "FOR" EACH OF THE ABOVE PROPOSALS.
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Print Name Signature of Shareholder
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Number of Shares Signature if Held Jointly
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Date
Please sign exactly as name appears on the certificate or
certificates representing shares to be voted by this proxy. When signing
as executor, administrator, attorney, trustee or guardian, please give full
titles as such. If a corporation, please sign in full corporate name by
president or other authorized officer. If a partnership, please sign in
partnership name by authorized persons.
