This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Houston American Energy Announces Agreement To Participate In Pecos County, Texas Well

HOUSTON, July 25, 2013 /PRNewswire/ -- Houston American Energy Corp. (NYSE MKT: HUSA) today announced that it has agreed to participate in drilling a 10,000' test well in Pecos County, Texas. 

The well, sited on a 725 acre lease block, is planned to test the Devonian chert and Strawn formation targeting potential oil pay.  The block is expected to accommodate multiple offset locations should the test be successful.

Houston American will hold a 10% working interest after the casing point in the test well and in the entire lease block. Houston American's costs in the test well are expected to be $400,000 or less which will be funded from working capital.  Drilling operations are expected to begin in September 2013.

The well operator has drilled over 100 wells on similar prospects on trend.

John F. Terwilliger, Chairman and CEO of Houston American Energy, stated, "While we remain focused on our large blocks in Colombia, we have been pursuing domestic opportunities where we can add shareholder value.  We believe the Pecos County well offers such an opportunity given the favorable track record and economics of wells drilled by the operator on trend.  We are evaluating additional opportunities to participate in other prospects with the operator.  As we continue to build a pipeline of what we believe to be attractive prospects, we expect our drilling activities in the United States to gain momentum."

About Houston American Energy Corp.

Based in Houston, Texas, Houston American Energy Corp is an independent energy company with interests in oil and natural gas wells and prospects. The Company's business strategy includes a property mix of producing and non-producing assets with a focus on Colombia, Texas and Louisiana. Additional information can be accessed by reviewing our Form 10-K and other periodic reports filed with the Securities and Exchange Commission.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,081.89 -49.97 -0.29%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,796.6090 -42.0340 -0.87%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs