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Houston American Energy Sells 2.89 Million Common Shares

December 7, 2009 (FinancialWire) — Houston American Energy Corp. (NASDAQ: HUSA) SAID it closed and received the funds from a registered direct offering in the amount of 2.89 MILLION shares of the company’s common stock to select institutional investors at $4.68 per share in a registered direct offering for net proceeds of approximately $12.8 million. The company plans to use the net proceeds from the offering for general working capital purposes, including funding its share of costs of development of properties in which the company hold interests.

Houston, Texas-based Houston American Energy Corp is an independent energy company with interests in oil and natural gas wells and prospects. The company’s business strategy includes a property mix of producing and non-producing assets with a focus on Colombia, Texas, and Louisiana.

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