Houston American Energy Corp (HUSA)

[Corvette1]

Impeccable Credentials

We were extremely impressed with Houston’s management and their ability to participate in significant exploration projects in Colombia and the seriousness of its partners. To give you an example, last year one of Houston American Energy’s partners, Hupecol, sold their assets in the Carancara project to Cespa for a staggering USD 920 million. As a result Houston American which was carried for a 1.6% working interest received net proceeds of over $11.5 million.

Houston American’s most recent partner, SK Energy Co. LTD, the South Korean conglomerate, is one of the largest companies in the world. Houston American recently announced a joint operating agreement with SK to earn a 25% interest in the 345,452 acre CPO 4 block. This block is located in a highly prospective area and contains over 100 drilling prospects with extremely large reserve potential. These are just 2 examples of the excellent management. Houston American’s CEO John Terwillinger clearly has had the foresight and connections to capitalize on the huge opportunity in Colombia.