Houston American Energy Enters Into Financing (NASDAQ:HUSA)

Press Release Source: Houston American Energy Corp On 8:07 pm EST, Monday November 30, 2009HOUSTON, Nov. 30 / --

Houston American Energy Corp. (Nasdaq: HUSA - News; the "Company"), an independent energy company with interests in oil and natural gas wells and prospects, announced today that it has reached an agreement to place up to 3,000,000 shares of the Company's common stock to select institutional investors at $4.68 per share in a registered direct offering for gross proceeds of approximately $14 million, before deducting placement agents' fees and estimated offering expenses. The transaction is expected to close on or about December 4, 2009, subject to customary closing conditions. The Company intends to use the net proceeds from the offering for general working capital purposes, including funding the Company's share of costs of development of properties in which the Company hold interests.

Global Hunter Securities, LLC acted as lead placement agent and Knight Capital Markets, LLC acted as a co-placement agent for the offering.

A shelf registration statement relating to these securities previously was filed and declared effective by the Securities and Exchange Commission. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful. A copy of the base prospectus and prospectus supplement (once filed) can be obtained at the Securities and Exchange Commission's website http://www.sec.gov or from Global Hunter Securities, LLC at 400 Poydras Street, Suite 1510 New Orleans, Louisiana 70130 Attn: Kelly Vest.

About Houston American Energy Corp.
Based in Houston, Texas, 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.