HOUSTON, Sept. 19, 2017
/PRNewswire/ -- Houston American Energy Corp. (NYSE American:
HUSA, or the "Company") today announced receipt, on September 18, 2017, of notification from NYSE
Regulation that the Company has regained compliance with Section
1003(a) of the NYSE American's Company Guide relating to minimum
shareholders' equity.
The Company previously received notification from the NYSE
American citing failure to comply with the minimum shareholders'
equity and minimum stock price standards. With this latest
notice, Houston American Energy has now cured the previously cited
deficiencies and is in compliance with the NYSE American's
continued listing standards. Effective September 19, 2017, the ".bc" designation,
signifying non-compliance with NYSE American listing standards will
be removed from the Company's trading symbol.
John Boylan, Houston American's CEO and Chairman stated: "We
are happy to have regained compliance with the NYSE American
listing standards. Our efforts and success in that regard, both
from a shareholders' equity position and stock price, are, we
believe, a reflection of our efforts to re-position Houston American with our entry into
Reeves County and the success we
have enjoyed with our initial wells. We are confident that we have
turned a corner and look forward to providing to our shareholders
continued access to a liquid market on the NYSE American and the
prospect of a significant uptick in our production, revenues and
profitability as our initial wells come on production."
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 mix of producing and non-producing assets with a focus
on the 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
ongoing compliance with exchange listing standards and continued
listing on the NYSE American, and achievement of increased
production, revenues and profitability. Those statements, and
Houston American Energy Corp., are subject to a number of risks,
including the potential inability to secure financing to fund
Houston American's share of well
costs, timing of drilling operations, rig availability, ultimate
drilling results, potential changes in price based on operations
and fluctuations in energy prices, changes in market conditions,
effects of government regulation and other factors. These and other
risks are described in the company's documents and reports that are
available from the company and the United States Securities and
Exchange Commission.
For additional information, view the company's website at
www.houstonamerican.com or contact the Houston American Energy
Corp. at (713) 222-6966 or Raymond
Deacon at (917) 477-7800.
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SOURCE Houston American Energy Corp.