Houston American Energy Corp To Commence Drilling in Lavaca County, Texas

Press Release Houston American Energy Corp. To Commence Drilling in Lavaca County, Texas HOUSTON, July 22 /PRNewswire-FirstCall/– Houston American Energy Corp. (OTC Bulletin Board: HUSA – News), has been informed by Wilcox Operating Corporation, the operator, that a drilling rig is moving on the Goyen #1 well in the West Hardys Creek Prospect in Lavaca County, Texas on Thursday, July 24, 2003. Drilling should commence within 24-36 hours after move-on.
This well will test the Frio and Miocene Sands to a total depth of 3000′. This prospect was internally generated and marketed by HUSA which means that HUSA developed the plan for drilling this well. Since they had an active role in finding working interest partners, they were able to reduce their costs. HUSA has retained a 38% working interest in this well and prospect.
In addition to ongoing development in Colombia, HUSA expects to continue to focus on prospect generation and marketing their projects to the industry and individual investors. The West Hardys Creek Prospect is a good example of this effort.
“Our goal is to increase our revenue stream strategically,” stated John F. Terwilliger, President of Houston American Energy Corp. “This means that we will find optimal prospects and sell portions of them while retaining an interest. Through this method, we minimize our costs and diversify our risks.”
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 Duane Street Group at 713-706-6240. Source: Houston American Energy Corp.