Houston American Energy Corp Announces Drilling Update

Houston American Energy Corp. Announces Drilling Update
Monday, May 17, 2004
HOUSTON, May 17, 2004 /PRNewswire-FirstCall/– Houston American Energy Corp. (OTC Bulletin Board: HUSA – News) announces a drilling update. The company is currently drilling ahead on its LA Furs F-16 well in Vermilion Parish, Louisiana at 9611′ towards total depth of 13,600′. HUSA holds a 3% working interest in this well and prospect.
In the Company’s international operations, drilling has been completed on its fourth well of the year. The potential objective pay interval of a gross 20′ was found about 20′ high to the offset producer 3500′ away. The well has been evaluated by electric log and production casing is being run. Results of the well’s production tests will be released when available. HUSA owns a 12.6% working interest in this well and prospect area. Other of the Company’s wells in similar areas produce on average about 1500 barrels of oil per day of gross production. “We are very encouraged by these results to date and if the above mentioned production tests and resulting rates confirm present analysis, Houston American Energy’s cash flow will be very positively affected.” stated 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 www.houstonamericanenergy.com or contact the company at (713) 222-6966. Source: Houston American Energy Corp.