Houston American (HUSA) Said it Plans to Explore Strategic Alternatives

July 19, 2012 9:07 AM EDT
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Houston American Energy Corp. (AMEX: HUSA) today announced that its Board of Directors has approved the exploration of strategic alternatives for the Company. The Company intends to engage an investment banking firm to assist in the evaluation of a broad range of financial and strategic alternatives, including, but not limited to, seeking additional financing to support the long-term development of its oil and gas properties, seeking financial and/or industry partners to participate in the development of its properties, selling some of or all of the Company's assets or interests in those assets, and the possible sale of the Company, among other alternatives.

No decision has been made to enter into a transaction at this time, and there can be no assurance the Company will enter into a transaction in the future. The Company does not plan to disclose or comment on developments regarding the strategic review process until it is complete or further disclosure is deemed appropriate.

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