HOUSTON, Feb. 19, 2020 /PRNewswire/ -- Houston
American Energy Corp. (NYSE American: HUSA) today announced
drilling plans for the company's second San Andres well in
Yoakum County, the Frost #2-H well. The operator has set a
drilling date for March, 2020, pending rig availability. The
well's planned total depth is approximately 5,500 feet with a
5,000-foot horizontal leg. The prospect contains 650 gross acres.
Houston American also announced that it has increased its
working interest in the planned well from 12.5% to 18.6%.
The initial Yoakum County well,
Frost #1-H, is commercially
productive.
Jim Schoonover, CEO of Houston
American Energy, stated, "We are anxious to begin drilling
operations on the Frost #2-H well
and pleased to have increased our participation in the well.
With the experience gained in drilling our first Yoakum County well, we expect to see improving
results from our Yoakum County
drilling operations.
Our recent infusion of capital has allowed us to retire all
outstanding debt and, we believe, positions us to focus, free of
capital constraints, on drilling and development of our existing
Yoakum County and other Permian
Basin holdings and Colombian acreage as well as seeking additional
opportunities."
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 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 well depth
and length of the horizontal leg, ultimate success of drilling
operations and ability to fund drilling and development operations
and acquisition of additional opportunities. The timing of
operations and ultimate success of drilling operations is subject
to numerous risk factors, including our ability to finance our
share of costs, the ability of our operators to finance and execute
on planned drilling operations, the ultimate recoveries from
prospects, and 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.
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SOURCE Houston American Energy Corp.