Houston American Energy Update

Rhea-AI Summary

Houston American Energy Corp. (NYSE American: HUSA) has announced updates on its operations in the U.S. Permian Basin. In Yoakum County, TX, the Frost #2-H frac is completed and set to commence production soon, with HUSA holding an 18.6% interest. Additionally, in Hockley County, TX, HUSA's acreage has expanded from 5,871 acres to 6,336 acres, with drilling operations scheduled to start on September 18, 2020. The projected well depth is 10,500' with a lateral length of 5,224'.

Positive

• Frost #2-H frac completion leads to imminent production, enhancing revenue potential.
• Expansion of acreage in Hockley County, TX, from 5,871 acres to 6,336 acres, increases resource potential.
• Drilling operations scheduled to commence on September 18, 2020, indicating active development.

Negative

• None.

HOUSTON, Sept. 3, 2020 /PRNewswire/ -- Houston American Energy Corp. (NYSE American: HUSA) today provided an update on recent activities on its U.S. Permian Basin acreage.

In Yoakum County, TX, the Frost #2-H frac has been completed and the well is expected to go on production within a week. Houston American Energy holds an 18.6% working interest in the well.

In Hockley County, TX, the total acreage block has been increased from 5,871 acres to 6,336 acres. Houston American Energy owns 20% of the block. The operator has informed us that drilling operations are planned to commence on September 18, 2020. The projected measured depth is 10,500' with a 5,224' lateral length.

About Houston American Energy Corp.

Based in Houston, Texas, Houston American Energy Corp. is a publicly-traded independent energy company with interests in oil and natural gas wells, minerals and prospects. The company's business strategy includes a property mix of producing and non-producing assets with a focus on the Permian Basin in Texas, Louisiana and Colombia.

Forward-Looking Statements

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, including statements regarding the actual timing of commencement of production and drilling operations and ultimate well depth and lateral length. The timing of operations, success of operations ultimate well depth and lateral length are subject to numerous risk factors, including our dependence upon third party operators and suppliers to perform within the planned time frame and within budget and the availability of rigs and services necessary to conduct drilling operations, among other risks described in our reports filed with the Securities and Exchange Commission.

For additional information, view the company's website at www.houstonamerican.com or contact Houston American Energy Corp. at (713) 222-6966.

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SOURCE Houston American Energy Corp.

FAQ

What recent updates did Houston American Energy Corp. provide on its Permian Basin operations?

Houston American Energy Corp. announced the completion of the Frost #2-H frac and the increase of acreage in Hockley County, TX, from 5,871 to 6,336 acres.

What is the significance of the Frost #2-H frac completion for HUSA shareholders?

The completion means imminent production, which could enhance revenue for HUSA shareholders.

When is drilling planned to start in Hockley County, TX?

Drilling operations in Hockley County are scheduled to commence on September 18, 2020.

What is the projected depth for the new well in Hockley County?

The projected measured depth for the new well is 10,500' with a lateral length of 5,224'.