Houston American Energy Corp. Announces First Production Results and a New Discovery
Tuesday, June 1, 2004
HOUSTON, June 1, 2004 /PRNewswire-FirstCall/– Houston American Energy Corp. (OTC Bulletin Board: HUSA – News) announces that the company’s LaFurs F-16 well in Vermilion Parish, Louisiana reached total depth of 13,705′ MD and based on well log and core analysis, found 15′ of apparent gas pay in the Discorbis #9 Sand at 13,248′. The LaFurs F-16 well was about 62′ high to the down dip control well. Production rates will be announced when this apparent discovery is turned to sales. Houston American Energy owns a 3% working interest in this well. We are very pleased to announce initial production rates for our fourth well drilled this year in our international operations. The well’s initial rate was 1,208 barrels of oil per day. Houston American Energy Corp. owns a 12.6% working interest and 11.592% net revenue interest in this well. This well sets up at least one offset location in the same reservoir. Drilling continues in our international area. “This is a very significant well for Houston American Energy and if these production rates are maintained it will greatly increase our cash flow. This is the third successful well brought on production this year in our international operations. Our results this year internationally are very encouraging and we believe are indicative of the results we expect to achieve for years to come.” stated John F. Terwilliger, Chairman.
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. Source: Houston American Energy Corp.