Houston American Energy

Published : November 10th, 2018

ANNOUNCES UPDATE ON SAN ANDRES PROSPECT

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HOUSTON AMERICAN ENERGY ANNOUNCES UPDATE ON SAN ANDRES PROSPECT

 

Houston, TX. ? November 9, 2018 ? Houston American Energy Corp. (NYSE American: HUSA) today announced an update on the drilling plans for the San Andres prospect.  As previously reported, the company entered into an agreement to acquire a 12.5% working interest in a prospect covering approximately 650 gross acres (81.25 new mineral acres) in Yoakum County, TX.

 

The company has been notified by the prospect operator that unanticipated issues that had delayed drilling operations have been resolved and the drilling of the first well is expected to commence by year end 2018.

 

The initial prospect is located on the Northwest Shelf of the Midland Basin. The prospect is comprised of the ?Exploration? component of the San Andres Formation with well operations planned to use horizontal laterals and fracture stimulation. The initial proposed well is a 4,620-foot horizontal exploration well targeting the San Andres Formation. The operator estimates that the prospect could ultimately be developed with six (6) additional horizontal wells as leased.

 

?If the initial wells perform in line with our expectations, we plan to continue the pursuit of additional opportunities in Yoakum County.  Given the experience of existing operators, we believe we can achieve substantial production while bringing down costs as compared to typical Permian Basin wells? stated Jim Schoonover, interim CEO of Houston American Energy.

 

About Houston American Energy Corp.


Based in Houston, Texas, Houston American Energy Corp. is a publicly-traded independent energy company with interests in oil and natural gas wells, minerals and prospects. The Company?s business strategy includes a property mix of producing and non-producing assets with a focus on the Permian (Delaware) Basin in Texas, Louisiana and Colombia.

 

Forward-Looking Statements

 

The information in this release includes certain forward-looking statements that are based on assumptions that in the future may prove not to have been accurate, including statements regarding timing of commencement of drilling operations, ultimate success of drilling operations, the number of wells that may be developed on the prospect and expected cost savings. Our ability to successfully drill and develop the prospect is subject to numerous risk factors, including our ability to finance our share of costs, the ability of our operator to finance and execute on planned drilling operations, the ultimate recoveries from the prospect, the availability and cost of rigs and services necessary to conduct drilling operations, among other risks described in our reports filed with the Securities and Exchange Commission.

 

For additional information, view the company?s website at www.houstonamerican.com, or contact Houston American Energy Corp. at (713) 222-6966.

 

Data and Statistics for these countries : Colombia | All
Gold and Silver Prices for these countries : Colombia | All

Houston American Energy

CODE : HUSA
ISIN : US44183U1007
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Houston American is a and oil exploration company based in United states of america.

Houston American holds various exploration projects in Colombia and in USA.

Its main exploration properties are WEBSTER PARISH, ACADIA PARISH and JIM HOGG in USA.

Houston American is listed in United States of America. Its market capitalisation is US$ 59.4 millions as of today (€ 53.4 millions).

Its stock quote reached its highest recent level on July 18, 2008 at US$ 9.98, and its lowest recent point on March 20, 2020 at US$ 0.09.

Houston American has 57 713 964 shares outstanding.

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Financings of Houston American Energy
10/1/2012Announces Pricing of Public Offering of Units
Nominations of Houston American Energy
3/17/2011APPOINTS RICHARD J. HOWE, PH.D. AS DIRECTOR
Financials of Houston American Energy
8/16/2010Second Quarter 2010 Financial Results
5/7/2010First Quarter 2010 Financial Results
11/6/2009Third Quarter 2009 Financial Results
8/10/2009Second quarter 2009 financial results
Project news of Houston American Energy
1/13/2014Provides Drilling Update and Announces an Additional Prospec...
10/3/2013S DRILLING PLANS
3/30/2013Announces Termination of Interest in CPO 4 Concession and Mu...
5/21/2012Announces Commencement of Drilling Operations on Cachirre #1...
3/23/2012ANNOUNCES ONGOING TESTING OF TAMANDUA #1 WELL
Corporate news of Houston American Energy
8/15/201510-Q for Houston American Energy Corp.
7/30/2015Houston American Energy Announces Final Judgment Settling An...
5/4/201510-K for Houston American Energy Corp.
4/23/2015Houston American Energy Announces "No Admit, No Deny" Settle...
7/17/2014Houston American Energy Announces Reversal of Dismissal of C...
11/20/2013Announces Agreements to Participate in Additional Prospects
7/25/2013Announces Agreement to Participate in Pecos County, Texas We...
7/13/2013Announces Management Changes
5/16/2013Announces Recompletion and Initial Test Results From the Cro...
10/31/2012Provides Update on Zorro Gris #1 Well
4/4/2012PROVIDES CPO 4 OPERATIONAL UPDATE
3/27/2012ANNOUNCES THE SALE OF THEIR LA CUERVA AND LLA62
3/16/2012S STATUS OF THE TAMANDUA #1 WELL AND ADDRESSES RUMORS
3/1/2012PROVIDES UPDATE ON THE TAMANDUA #1 WELL
12/20/2011TAMANDUA WELL STATUS
10/5/2011TAMANDUA #1 WELL STATUS
6/19/2011ANNOUNCES INITIATION OF RIG MOVE ON CPO4
8/6/2010Entered into a Farmout Agreement
7/16/2010Plans to List on The NYSE Amex
6/1/2010Provides Update on Status of Operations & Hupecol Sale
4/7/2010Addresses Stock Trading Volume & Price
12/7/2009Closes Registered Direct Offering
12/1/2009Enters Into Financing
10/16/2009Completion of New Farmout in Colombia
9/23/2009Regulation FD Disclosure, Financial Statements & Exhibits
9/9/2009Acquires New TEA Contract in Colombia
7/10/2009Completion of Farmout in Colombia
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