Houston American - HUSA STOCK NEWS

Houston American Energy Corp. (NYSE American: HUSA) has announced a definitive agreement to acquire Abundia Global Impact Group (AGIG), a company specializing in waste-to-fuel conversion. The transaction will result in AGIG members owning 94% of HUSA's outstanding common stock post-closing.

AGIG is preparing to construct its first advanced plastic recycling facility in Cedar Port, Texas, marking the initial phase of their expansion plan in renewable fuels and chemicals production. The facility will serve as a hub for AGIG's five-year US development strategy, focusing on scalable production capacity while maintaining capital discipline.

The acquisition, expected to close in early Q2, aims to position HUSA in the multi-billion dollar renewable energy market. The deal is subject to HUSA shareholder approval and standard closing conditions.

Houston American Energy Corp (NYSE American: HUSA) has announced a registered direct offering of 2,600,000 shares of common stock at $1.70 per share, expected to generate gross proceeds of approximately $4,420,000. The transaction is anticipated to close on January 23, 2025.

The offering is being conducted under a shelf registration statement on Form S-3 previously filed and declared effective by the SEC on November 4, 2024. Univest Securities, is serving as the sole placement agent for the offering.

Houston American Energy Corp. (NYSE American: HUSA) announced plans to transform into an integrated energy and technology company through two non-binding Letters of Intent to acquire Abundia Global Impact Group (AGIG) and RPD Technologies. The acquisitions follow HUSA's recent $2.5 million private placement in November 2024 and aim to drive shareholder value through diversification in the energy transition sector.

The AGIG acquisition terms are expected to be finalized by Q1 2025, while the RPD acquisition involves a debt-free transaction over three years. Both companies will be co-located at AGIG's Cedar Port, Houston site to facilitate collaboration and operational efficiencies. RPD brings technical experience and established revenue from petrochemical clients, while AGIG contributes renewable and recycling technology solutions.

Houston American Energy Corp (NYSE American: HUSA) has announced the closing of a private placement offering, raising approximately $2.5 million through the sale of 2,180,180 shares of common stock to an accredited investor. The company also announced significant leadership changes, with Peter F. Longo appointed as the new President and CEO, replacing John F. Terwilliger who will continue as a director. Longo, currently Chairman of Cyient Inc, brings extensive experience from roles at United Technologies Corp. The company plans to use the proceeds for general corporate purposes and strategic growth initiatives in the energy sector, including oil & gas, renewable energy, and energy transition technologies.

Houston American Energy (NYSE American: HUSA) announced plans to drill six wells on the State Finkle Unit in Reeves County, Texas, targeting the Wolfcamp formation.

EOG Resources will operate the unit, where HUSA holds a 0.0078 working interest.

Drilling is set to start by June 30, 2024, with all wells expected to spud by September 1, 2024.

HUSA will invest approximately $600,000 in this drilling program.

Houston American Energy Corp. (HUSA) announced an acquisition of additional interest in Hupecol Meta, LLC, increasing its stake in the CPO-11 block in Colombia. This block covers nearly 1000 square miles and has multiple identified leads. HUSA now holds approximately 16% interest in the Venus Exploration area and 8% in the remaining block. The company operates two producing wells and plans a 3D seismic acquisition program to enhance development. CEO John Terwilliger expressed optimism regarding the acquisition and operational progress, emphasizing the potential for future drilling.

Houston American Energy Corp. (NYSE American: HUSA) has adjourned its Annual Meeting of stockholders scheduled for September 20, 2022, due to insufficient quorum. The meeting will reconvene on October 25, 2022, at 10:00 a.m. central time. No changes are expected to the record date or proposals outlined in the proxy statement. The company stresses the importance of stockholders voting their proxies to meet quorum requirements, as a lack of votes may lead to further adjournments and incurred costs.

Houston American Energy Corp. (NYSE American: HUSA) provided an update on its CPO-11 Block operations in Colombia. Year-to-date, two wells were drilled, with the Saturno #1ST well soon to begin production. Plans for the Venus Exploration Area include a 3D seismic grid acquisition and drilling of a horizontal well. The company holds an 11% interest in the Venus wells and a 5.5% interest in the remaining CPO-11 Block wells. CEO John Terwilliger expressed satisfaction with the operational progress and future development plans.

Houston American Energy Corp. (NYSE American: HUSA) has acquired an additional interest in Hupecol Meta, LLC, enhancing its position in the CPO-11 block in Colombia, covering approximately 639,405 gross acres. This includes the 69,128-acre Venus Exploration area and 570,277 acres partially farmed out to Parex Resources. Houston American now holds about 11% in Venus and 5.5% in the rest of the block. Drilling operations for its first well in the Venus area are underway, signaling the company's continued expansion and activity in the oil and gas sector.