Houston American Energy Announces Results for the Quarter Ending March 31, 2008

Houston, Texas – May 12, 2008 – Houston American Energy, Corp. (NASDAQ: HUSA), today reported its financial results for the quarter ended March 31, 2008. The company reported a net profit for first quarter of $871,721, or $0.03 per share, on revenues of $2,937,174. Operational highlights for the Quarter include: * Net income increased to $871,721 from a loss of $623 in 2007; * Oil & Gas revenues increased 186% over 2007 levels; * Cash and marketable securities balances exceeded $10.0 million; and * No debt Mr. John F. Terwilliger President and Chairman of Houston American Energy stated, “I am pleased to report the results of the first quarter 2008 for Houston American Energy Corp. Management was excited to the see the increase in revenue in Colombia and looks forward to continued organic growth there throughout the remainder of the year. Our drilling activities going forward will be in areas where we own a much larger interest then those exploited in the prior year and, if all things remain equal, this projected drilling has the potential to significantly enhance our growth rate. This projected growth is organic and fully funded by the Company’s current cash reserves.”
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 Texas, Louisiana and Colombia. Additional information can be accessed by reviewing our Form 10-Q and other periodic reports filed with the Securities and Exchange Commission which can be found on our website at www.houstonamericanenergy.com.
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 company’s ability to achieve similar drilling results from projected drilling, the company’s ability to increase its rate of revenue growth, and the company’s ability to fully finance drilling operations from cash reserves. Those statements, and Houston American Energy Corp., are subject to a number of risks, including the potential changes in price based on operations and fluctuations in oil prices, changes in market conditions and other factors, effects of government regulation, and the ultimate results derived from our projects. 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 http://www.houstonamericanenergy.com or contact the Houston American Energy Corp. at (713) 222-6966.