HOUSTON, May 4, 2017 /PRNewswire/
-- Houston American Energy Corp. (NYSE MKT: HUSA) today
announced that the Johnson State #1H
well has been spudded and is expected to reach total depth,
including the horizontal lateral, within approximately 32 days.
The well, operated by Founders Oil & Gas Operating, LLC, is
the first well to be drilled on Houston
American's Reeves County
acreage encompassing two lease blocks totaling approximately 717
gross acres. Houston American holds a 25% working interest in
the subject well and Johnson lease.
John P. Boylan, CEO and President
of Houston American stated,
"Spudding the first well on our recently acquired Reeves County acreage is a major milestone for
Houston American. We are initially
targeting the Wolfcamp shale formation. Based on drilling results
in the surrounding area, we are very excited to begin drilling. We
look forward to updating the market as the well progresses."
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, 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 the
anticipated time to reach total depth and the ultimate results of
drilling operations. 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 completion costs,
timing of drilling operations, 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 recently updated
website at www.houstonamerican.com or contact the Houston
American Energy Corp. at (713) 222-6966.
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SOURCE Houston American Energy Corp.