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Houston American Energy Corp. Message Board

  • johnsonstarfish_0212 johnsonstarfish_0212 Oct 29, 2013 12:26 PM Flag

    Management... how about an update?

    We've been sitting in the dark here for months now. Throw us an #$%$ bone already.

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    • Starfish, I think we will get an update by the end of next week, mostly because the 3rd quarter report is due to be filed with the SEC very soon. Last year, it was filed on November 9th, so I imagine it will be filed on Friday, November 8th, this year. So we should get that bone that you are waiting for.

      The 3Q earnings report includes a section on current year developments. This was part of last year's 3Q report:

      " Drilling Activity

      During the nine months ended September 30, 2012, we drilled 4 international wells in Colombia, as follows:

      2 wells were drilled on the La Cuerva concession in which we hold a 1.6% working interest, of which 2 were completed and brought onto production (both wells were sold in connection with the sale of our interest in HC, LLC described below).

      2 wells were drilled on the CPO 4 block in Colombia, both of which were determined to be non-commercial.

      At September 30, 2012, a third well was being drilled on the CPO 4 block (see "CPO 4 and Serrania Development" below).

      During the nine months ended September 30, 2012, no domestic wells were drilled."

      Plus, the report included the following:

      " With respect to development of our Serrania Block, the National Hydrocarbon Agency of Colombia (the "ANH") has granted extensions of required development commitments, including drilling of a first test well, until September 2013 based on conditions on the ground. Based on those conditions, we anticipate that drilling of a first test well on the Serrania Block will not occur until 2013."

      So, at a minimum, we should get some kind of update by the end of next week. We may not learn much that is new, but at least we should get an update.

      By the way, it seems that HUSA likes to slip lower just before positive news breaks. This is one of those stocks that may be sell the rumor, buy the news. Who knows. We'll see pretty soon.


      Sentiment: Buy

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