Houston American Energy Corp
Houston American Energy Corp is an independent oil and gas company focused
on the development, exploration, exploitation, acquisition, and production of
natural gas and crude oil properties in the U.S. Permian Basin and Gulf Coast
regions, particularly Texas and Louisiana, and in the South American country
of Colombia.
We focus on early identification of, and entrance into, existing and emerging
resource plays, particularly in the U.S. Permian Basin and Gulf Coast and in
Colombia. We do not operate properties but typically seek to partner with, or
invest in, larger operators in the development of resources or retain interests,
with or without contribution on our part, in prospects identified, packaged
and promoted to larger operators. By entering these plays earlier and partnering
with, investing in or promoting to, larger operators, we believe we can capture
larger resource potential at lower cost and minimize our exposure to drilling
risks and costs and ongoing operating costs.
Each of our property interests differ in scope and character and consists of
one or more types of assets, such as 3-D seismic data, leasehold positions,
lease options, working interests in leases, partnership or limited liability
company interests, corporate equity interests or other mineral rights. Our percentage
interest in each property represents the portion of the interest in the property
we share with other partners in the property. Because each property consists
of a bundle of assets that may or may not include a working interest in the
project, our stated interest in a property simply represents our proportional
ownership in the bundle of assets that constitute the property. Therefore, our
interest in a property should not be confused with the working interest that
we will own when a given well is drilled. Each of our exploration and development
projects represents a negotiated transaction between the project partners relating
to one or more properties. Our working interest may be higher or lower than
our stated interest.
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