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Houston American Energy Corp. Message Board

  • bluekat696 bluekat696 May 10, 2013 4:51 PM Flag

    Houston, Houston we have a problem!

    Bah! 32% today is not that bad...

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    • The problem is because you are a gay and like black stinky gays.

    • You bet we have a problem and that the company has gotten desperate enough to engage in message board like hype in leiu of sustainable metrics. This new found revenue will most likely become ghostly in that there are no proven reserves. It is a repurposed well that was primed to flow intitially and that flow will die off most likely in hours. I welcome all positive news but this is not sustainable flow. Our 3 executives are pulling 1.2 mill a year in just salaries and according to the last balance sheet statement we have much less than 10 million in net assets. I really hope that 5 mill in liability is the cost of the next Columbian well and not some other unknown expense. I feel they may be fast and loose with the financial stability of this company and that they will have no choice but to execute a hail mary pass and hope for success on our last well. I certainly hope they do no try and sucker more ignorant speculators in and dilute the current shareholder. Unfortuneately that is the most likely scenario since the CEOs of today are just out for more. I hope I am proven wrong. And by hoping for a trajectory like KOG experienced is not logical since they are the operator and they direct their own destiny. They have over 100 full time employees where as we have what 3-4. This is a holding company and is at the mercy of the operator. SK was just an example of what is out there.

      • 2 Replies to mcintoshe21
      • what is their next schedule move I cannot find anything out ??? what is their drilling schedule ,,,anything you know I would be appreciated ,,,,and YOUR opinion on when it will go back to ten dollars ???

      • I didn't think the press release was message board like hype. I was impressed with the objective nature of the comments made by the CEO, Mr. Terwilliger. Here is what he had to say:

        "While it is early in its production life for this new interval, I am very pleased with the initial production from the well. As a royalty owner, Houston American is not privy to all of the data on the well and can't speak as to the future cash flows that may be realized from the well. Nonetheless, I view the successful recompletion in the Tuscaloosa Sand as favorable to our Profit Island and North Profit Island Prospects. Houston American will continue to evaluate this area as well as pursue other domestic opportunities."

        Concerning proven reserves, I don't know if this latest particular well has proven reserves associated with it, but HUSA does have some proven reserves, as is stated on their website :

        "Houston American Energy Corp. engages in the acquisition, exploration, exploitation, development, and production of natural gas and crude oil properties in the U.S. Gulf Coast region and South America. The company’s oil and gas properties are located primarily in the South American country of Colombia; and in the onshore Gulf Coast region of Texas and Louisiana. As of December 31, 2011, its proved undeveloped reserves were 63.8 mbbls of oil. The company was founded in 1981 and is based in Houston, Texas."

        HUSA is nothing more than a holding company, as you noted, with only 4 full time employees, one of which is the founder of the company and the CEO, Mr. Terwilliger. He is also the largest stockholder, with around 8 million shares. His pay and the pay of the three others may seem excessive, but it is important to keep in mind that the shareholders are not doing much more than going along for the ride. Mr. Terwilliger is driving the bus, owns the bus, built the bus, and sells tickets for passage on the bus. At least that is how I look at it.

        continued

        Sentiment: Buy

 
HUSA
0.23Jun 28 4:00 PMEDT