Houston American Energy Corp. Announces Domestic Drilling Update
Monday, April 25, 2005
HOUSTON, April 25, 2005 /PRNewswire-FirstCall/– Houston American Energy Corp. (OTC Bulletin Board: HUSA – News) announces a domestic drilling update. The first well on the Company’s South Sibley Prospect in Webster Parish, Louisiana has commenced drilling operations and is currently drilling ahead below 5000′ towards total depth projected between 9300′ and 10,000′. This well’s primary objective is the Hosston Sands. Houston American has a 7.5% Working Interest at a 8.3% Net Revenue Interest carried to point of sales for this well. Houston American is pleased to announce that its Baronet #2 well has reached total depth of 12,100′ and the Hayes Sand objective was encountered about 70′ high to the flank well that produced 1.6 BCF of natural gas from the Hayes. Hole conditions deteriorated during logging attempts and only an induction log was run and it could not get through the sand but did log an apparent 21′ of net pay and stopped logging in apparent pay. A completion attempt will be made immediately and cased hole tools will be run to determine the full extent of the apparent pay section. Houston American has a 3% Working Interest and 2.25% Net Revenue Interest until payout in this well. “We are very pleased to have begun drilling on the South Sibley Prospect. This is a very large prospect with the potential for many wells. Houston American has no cost exposure in this first well or in the next two wells for that matter. The Baronet #2 appears to be significant discovery but since all diagnostic tools could not be run this will be confirmed by a production test,” said John F. Terwilliger, Chairman, Houston American Energy Corp.
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 and Colombia. Additional information can be accessed by reviewing the December 31, 2003 Form 10-KSB, and its other periodic reports filed with the Securities and Exchange Commission. 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. Those statements, and Houston American Energy Corp., are subject to a number of risks, including production variances from expectations, volatility of product prices, the capital expenditures required to fund its operations, environmental risks, competition, government regulation, and the ability of the company to implement its business strategy. 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.houstonamericanenergy.com or contact the company at (713) 222-6966.