Houston American Energy Corp. Announces First Revenue from State Finkle Unit Wells
HOUSTON, TX, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) (“HUSA” or the “Company”) and Abundia Global Impact Group (“AGIG”), today announced that production from the State Finkle Unit wells has commenced, with first revenue received.
On June 17, 2024, HUSA announced plans to participate in the drilling of six wells, each with approximately three-mile laterals, on the State Finkle Unit in the Wolfcamp formation in Reeves County, Texas.
In September 2025, the Company received its first royalties from production at the initial wells.
“It is great to see that the funds invested in these wells have started delivering a return for the shareholders,” stated Ed Gillespie, Chief Executive Officer of HUSA. “The revenues will serve to help fund the Company’s transformation from an oil and gas exploration company into a global leader in the renewable energy space, demonstrating how our traditional operations can help fund and support that transition.”
EOG Resources acts as operator and is the principal working interest owner. The unit includes acreage subject to our existing O’Brien lease. HUSA holds approximately 0.0078 working interest in the unit. The State Finkle Unit is expected to provide ongoing royalty income over the life of the wells, reinforcing HUSA’s strategy of leveraging legacy oil and gas interests to help fund its transition into renewables.
About Houston American Energy Corp.
Houston American Energy Corp. (NYSE American: HUSA) is an independent energy company with a growing and diversified portfolio across both conventional and renewable sectors. Historically focused on the exploration and production of oil and natural gas, the Company is actively expanding into high-growth segments of the energy industry. In July 2025, HUSA acquired AGIG, a technology-driven platform specializing in the conversion of waste plastics into low-carbon fuels and chemical feedstocks. This strategic acquisition reflects HUSA’s broader commitment to meeting global energy demands through a balanced mix of traditional and alternative energy solutions and positions the Company to capitalize on emerging opportunities in sustainable fuels and energy transition technologies.
Cautionary Note Regarding Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information generally is accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes, but is not limited to, statements about revenue from the State Finkle Unit expecting to produce ongoing royalty income over the life of the wells and serving to help fund the Company’s transformation from an oil and gas exploration company into a global leader in the renewable energy space. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including, but not limited to: (i) risks and uncertainties impacting the Company’s business including, risks related to its current liquidity position and the need to obtain additional financing to support ongoing operations, the Company’s ability to continue as a going concern, the Company’s ability to maintain the listing of its common stock on NYSE American, the Company’s ability to predict its rate of growth, the Company’s ability to hire, retain and motivate employees, the effects of competition on the Company’s business, including price competition, technological, regulatory and legal developments, developments in the economy and financial markets, and (ii) other risks as set forth from time to time in the Company’s filings with the U.S. Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are beyond the control of the Company.
With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing the Company’s business is disclosed in our Annual Report on Form 10-K and other filings with the SEC on www.sec.gov.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
For additional information, view the company’s website at www.houstonamerican.com or contact Houston American Energy Corp. at (713) 222-6966.
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