Houston American Energy Corp (HUSA) announces results of its initial well on its Caddo Lake Prospect in Caddo Parish, Louisiana. The initial Caddo Lake Prospect well reached total depth of 10,000′ on November 11, 2007. After electric logs, micro logs and sidewall core data had been received and evaluated the well appears productive in several Cotton Valley Sands as well as in the upper Hosston interval. The well will be hooked up to sales through the installation of a gas pipeline before further testing. Once connected to sales the well will be completed, and if successful turned to sales. Houston American will own a 27.25% Working Interest and 20.4375% Net Revenue Interest after payout of this well and on all further wells on the prospect. Up to payout HUSA will own a 33.5% Working Interest and 25.125% Net Revenue Interest. Funds for completion and hookup will come from HUSA’s working capital. “We are very pleased with this apparent discovery and have leasehold and option acreage in excess of another 100 well locations on 40 acre spacing if production from the well calls for more development. Production rates will need to be achieved and evaluated before assessing the full impact of this discovery to Houston American,” said John F. Terwilliger, CEO, 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, 2006 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 Houston American Energy Corp at (713) 222-6966.