HOUSTON, May 20, 2019 /PRNewswire/ — Houston American Energy Corp. (NYSE American: HUSA) today announced the initiation of fracking operations on the company’s Frost #1H well.
The Frost #1H well is located in the Northwest Shelf of the Midland Basis, in Yoakum County, Texas, and targets the “Exploration” component of the San Andres Formation. Houston American Energy holds a 12.5% working interest (subject to a 10% back-in after payout) in the 650-acre prospect.
Jim Schoonover, interim CEO of Houston American Energy, stated, “The operator of our Frost #1H well has initiated fracking operations on the completed well. Production facilities have been built on the site to support a multi-well program, including access to a saltwater disposal well. We anticipate bringing product to sale as soon as possible following completion of fracking. Our operator has previously indicated that our Yoakum County lease acreage may support up to five additional horizontal wells.”
“Once initial production volumes are known, we will announce results and approximate timing on further development of the lease.”
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.