Press Release
Houston American Energy Corp. Announces Working Interest in San Patricio County, Texas HOUSTON, October 15, 2003 /PRNewswire-FirstCall/– Houston American Energy Corp. (OTC Bulletin Board: HUSA – News), announces that it has acquired a 5% Working Interest in the St. Paul Prospect in San Patricio County, Texas which covers 380 acres. A test well is expected to be drilled in the near future to a depth of 5900′ to test the Upper Frio Sands. This well is expected to be structurally high to a formerly producing well that watered out while producing in excess of 800 mcf of gas per day. If successful, this well may set up several additional locations.
This prospect is considered low risk but with high potential relative to its costs, which fits with HUSA’s philosophy of asset and cash flow building with lower risk projects. Funding for this project is provided by HUSA’s available working capital.
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, 2002 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.