SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of Report (Date of earliest event reported): February 18,
1999
Horizontal Ventures, Inc.
___________________________
(Exact name of registrant as specified in its charter)
Colorado 0-20760 84-1091986
___________________________ ___________ _____________
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
630 Fifth Avenue, Suite 1501, New York, NY 10111
_____________________________________________ ___________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(212) 218-4680
Petro Union, Inc. d/b/a Horizontal Ventures, Inc.
575 Madison Avenue, Suite 1006, New York, NY 10022
_______________________________________________________________
(Former name or former address, if changed since last report)
<PAGE>
Item 4. Changes in Registrant's Certifying Accountant.
On February 18, 1999, Horizontal Ventures, Inc. (the
"Company") engaged Arthur Andersen LLP to replace Bateman & Co.,
Inc., P.C. as the Company's independent accountant to audit the
Compay's consolidated financial statements for the year ended
December 31, 1998. Bateman & Co., Inc., P.C. was dismissed as the
Company's independent accountant on the same date. The Company's Board
of Directors approved the change in the Company's independent accountant.
The independent auditor's report of Bateman & Co., Inc., P.C.
for the Company's financial statements for the year ended
December 31, 1997 did not contain an adverse opinion or a
disclaimer of opinion, and was not modified as to uncertainty,
audit scope, or accounting principles.
During the Company's two most recent fiscal years and
through the date of the dismissal of Bateman & Co., Inc., P.C.,
the Company did not have any disagreements with Bateman & Co.,
Inc., P.C. on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure.
The letter of Bateman & Co., Inc., P.C. required by Item 4
of Form 8-K, as referenced in Item 304(a)(3) of Regulation S-B,
is filed as Exhibit 99.1 to this report.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Letter from Bateman & Co., Inc., P.C. dated
February 19, 1999.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
Date: February 25, 1999 Horizontal Ventures, Inc.
/s/ Randeep S. Grewal
By: --------------------------
Randeep S. Grewal,
Chief Executive Officer
Exhibit 99.1
Bateman & Co., Inc., P.C.
Certified Public Accountants
5 Briardale Court
Houston, Texas 77027-2904
(713) 552-9800
Fax (713) 552-9700
www.batemanhouston.com
February 19, 1999
Securities and Exchange Commission
Mail Stop 9-5
450 Fifth Street, NW
Washington DC 20549
Gentlemen:
We were previously principal accountants for Horizontal Ventures,
Inc. and we issued our report dated April 14, 1998 on the
financial statements of Petro Union, Inc., dba Horizontal
Ventures, Inc. as of December 31, 1997 and for the two years then
ended. We have read the Form 8-K dated February 18, 1999, and we
concur with the information shown therein. We had no
disagreements with Horizontal Ventures, Inc. on any matter of
accounting principles or practices, financial statement
disclosure or auditing scope or procedure during the year ending
December 31, 1997.
Very truly yours,
/s/ Batement & Co., Inc., P.C.
cc: Horizontal Ventures, Inc.
Member
INTERNATIONAL ASSOCIATION OF PRACTICING ACCOUNTANTS
Offices in Principal Cities Around The World
