HOUSTON AMERICAN ENERGY ANNOUNCES DRILLING PLANS ON FINKLE UNIT IN REEVES COUNTY
17 Juni 2024 - 11:00PM
Houston American Energy Corp. (NYSE American: HUSA) today announced
plans to participate in the drilling of six wells, each well
consisting of an approximate 3 mile lateral, on the State Finkle
Unit in the Wolfcamp formation in Reeves County, Texas.
EOG Resources will act as operator of the unit
and is the principal working interest owner in the unit. The unit
includes acreage subject to our existing O’Brien lease. We will
hold an approximately 0.0078 working interest in the unit. The
first well is scheduled to spud by June 30, 2024 with all six wells
anticipated to be spud by September 1, 2024. Houston American’s
cost of participating in the drilling program is estimated at
$600,000.
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 timing of commencement of drilling operations,
timing of completion of wells, length of the horizontal legs, cost
to Houston American Energy and ultimate success of drilling
operations. The timing of operations, cost to Houston American
Energy and ultimate success of drilling operations is subject to
numerous risk factors, including the ability of the operator to
execute on planned drilling operations, the ultimate recoveries
from prospects, and the availability and cost 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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