HOUSTON, May 24, 2022
/PRNewswire/ -- Houston American Energy Corp. (NYSE MKT: HUSA)
today announced that final approvals and permits have been received
and drilling operations have commenced on a well on the CPO-11
Venus Exploration Area in Colombia.
The well, operated by Hupecol Operating, is Houston American's first well to be drilled on
the 69,128 gross acre Venus Exploration Area. The Venus Exploration
Area, and a 50% interest in the larger CPO-11 block, are held by
Hupecol Meta, LLC. Houston American,
through its ownership interest in Hupecol Meta, holds a 6.99%
working interest in the subject well and Venus Exploration
John Terwilliger, CEO and
President of Houston American
stated, "We are excited to commence drilling operations on the
Venus area. We expect future
activities in the Venus area to be
dictated by results of the first two wells."
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 Delaware Basin in Texas and Colombia.
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 the
ultimate results of drilling operations and drilling of additional
wells in the Venus Exploration Area. 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 drilling and
completion costs, timing of drilling operations, ultimate drilling
results, potential changes in drilling, completion and operating
costs, potential 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 recently updated
website at www.houstonamerican.com or contact the Houston American
Energy Corp. at (713) 222-6966.
SOURCE Houston American Energy Corp.