HOUSTON AMERICAN ENERGY CORP. (NYSEMKT:HUSA) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01. Completion of Acquisition or Disposition of Assets.
As previously disclosed on January 4, 2017, Houston American
Energy Corp. (Houston American) entered into a Participation
Agreement to acquire from Founders Oil Gas III, LLC a 25% working
interest (subject to a 5% back-in after project payout in favor
of the prospect generator, to be borne proportionately among the
working interest owners) in two lease blocks in Reeves County,
Texas (the Prospect).
On February 9, 2017, Houston American completed the acquisition
of the Prospect, consisting of 717.25 gross acres for a purchase
price of $986,046.
Houston American funded the purchase price with proceeds from its
January 31, 2017 private placement of shares of 12.0% Series A
Convertible Preferred Stock.
Item 7.01. Regulation FD Disclosure.
On February 9, 2017, Houston American issued a press release
announcing the closing of the purchase of the Prospect. The press
release is attached to this Current Report on Form 8-K as Exhibit
99.1.
In accordance with General Instruction B.2 of Form 8-K, the
information set forth in this Item 7.01, including Exhibit 99.1,
is furnished to Item 7.01 and shall not be deemed filed for
purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the Exchange Act), or otherwise subject to the
liabilities under that section, nor shall such information be
deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference in such a
filing.
Item 9.01. Financial Statements and Exhibits.
| (a) | Financial Statements of Business Acquired | |
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Financial statements of the acquired business are not included in this Form 8-K report. Such financial statements will be filed within 71 calendar days of the date on which this Form 8-K is required to be filed. |
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| (b) | Pro Forma Financial Information | |
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Pro forma financial information relative to the acquired business is not included in this Form 8-K report. Such pro forma financial information will be filed within 71 calendar days of the date on which this Form 8-K is required to be filed. |
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| (d) | Exhibits |
| 99.1 |
Press release, dated February 9, 2017, regarding closing of acquisition of Reeves County, Texas assets |
About HOUSTON AMERICAN ENERGY CORP. (NYSEMKT:HUSA)
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 United States Gulf Coast region and in South America. The Company’s oil and gas assets and operations are primarily in Colombia and in the onshore Gulf Coast region, particularly Texas and Louisiana. The Company, along with its partners, manages its resources through acquisitions and divestitures. Its exploration and development projects are focused on existing property interests, and future acquisition of additional property interests, in South America, particularly Colombia, and in the onshore Texas Gulf Coast region and Louisiana. Its producing and exploration properties in Louisiana include the East Baton Rouge Parish, Plaquemines Parish, Vermilion Parish, Iberville Parish, Assumption Parish and Jefferson Davis Parish. Its exploration properties in Texas consist of Matagorda County. HOUSTON AMERICAN ENERGY CORP. (NYSEMKT:HUSA) Recent Trading Information
HOUSTON AMERICAN ENERGY CORP. (NYSEMKT:HUSA) closed its last trading session up +0.002 at 0.194 with 81,552 shares trading hands.