Houston American Energy Corp. Announces Drilling Rig on Location in Acadia Parish, Louisiana
Monday June 21, 2004
HOUSTON, June 21 /PRNewswire-FirstCall/ — Houston American Energy Corp. (OTC Bulletin Board: HUSA – News) announces that the drilling rig is on location and operations have commenced for the drilling to 12,100′ of its Baronet #1 well in Acadia Parish, Louisiana. This well is expected to test the Hayes Sand and a series of sands including the Cib Haz, Camerina and Lower Marg Vag Sand. Houston American Energy has a 3% working interest in this well and 620 acre prospect. The drilling phase should take three to four weeks. “This prospect has reserve potential in excess of 30 bcf of natural gas and is being drilled updip to an objective sand that has produced and others with apparent gas shows. The Baronet #1 is a good example of HUSA’s strategy of participating in a diversified group of lower to moderate risk prospects with unusually high potential. Success with this well may provide several development locations. Management of HUSA is very pleased to participate in this opportunity,” said John F. Terwilliger, Chairman of 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 http://www.houstonamericanenergy.com or contact the company at (713) 222-6966.
Houston American Energy Corp (NYSE MKT: HUSA) is a public, independent oil and gas company focused on the development, exploration, exploitation, acquisition and production of natural gas and crude oil properties in the United States Gulf Coast Region and in South America.