Revenue Performance - Total oil and gas revenues increased 15% to $130,239 for the three months ended September 30, 2024, compared to $112,994 for the same period in 2023[56]. - Oil and gas revenues declined 28% to $393,729 for the nine months ended September 30, 2024, compared to $547,408 for the same period in 2023[56]. - Distributions from Hupecol Meta totaled $268,817 and $922,959 for the three and nine months ended September 30, 2024, respectively[54]. Expenses - Lease operating expenses increased 78% to $229,210 during the three months ended September 30, 2024, from $128,918 during the same period in 2023[59]. - General and administrative expenses decreased by 10% to $280,260 during the three months ended September 30, 2024, from $312,344 during the same period in 2023[62]. Capital Expenditures and Cash Flow - Capital investment expenditures totaled $1,072,364 during the quarter ended September 30, 2024, attributable to investments in Hupecol Meta[53]. - Cash balance at September 30, 2024, was $2,847,296, down from $4,059,182 at December 31, 2023[65]. - Operating activities used $139,522 of cash during the nine months ended September 30, 2024, compared to cash outflows of $211,463 during the same period in 2023[66]. Joint Ventures and Future Plans - The company holds an approximately 0.00370542% working interest in the joint venture with EOG Resources for six wells in Texas[48]. - The first well in the joint venture was scheduled to spud on June 23, 2024, with all six wells anticipated to be in production by the second quarter of 2025[48]. Financial Position and Funding Needs - The company may need to secure additional funding for acreage acquisitions or expanded drilling plans, with limited authorized shares available for equity capital raises[73]. - There were no off-balance sheet arrangements or guarantees of third-party obligations as of September 30, 2024[74]. Market Conditions - The company's revenue and profitability are heavily influenced by the volatile prices of crude oil and natural gas, which are subject to fluctuations due to supply and demand[75]. - The company has not historically engaged in hedging or other transactions to manage exposure to oil and gas price volatility[76].

Group 1: Private Placement and Financials - Houston American Energy Corp. has closed a private placement offering, issuing 2,180,180 shares of common stock, raising approximately $2.5 million in gross proceeds before expenses [1] - The private placement was conducted under Section 4(a)(2) of the Securities Act of 1933 and Regulation D, and the securities were offered only to accredited investors [6] Group 2: Management Changes - John F. Terwilliger has stepped down as President and CEO, effective November 11, 2024, but will continue to provide advisory services and serve as a director [3] - Peter F. Longo has been appointed as the new President and CEO, effective November 11, 2024, and will also join the board of directors [4] - The board has received the resignation of James A. Schoonover as a director, effective November 11, 2024, with Robert J. Bailey joining the board on the same date [7] Group 3: Strategic Direction - Peter Longo emphasized the company's commitment to driving shareholder value and exploring new opportunities in the energy sector, including oil & gas, renewable energy, and energy transition technologies [6] - The net proceeds from the private placement will be used for general corporate purposes and to pursue strategic growth initiatives, including potential acquisitions and investments in the energy sector [6]

Revenue and Production - Total oil and gas revenues decreased 43% to $115,805 for the three months ended June 30, 2024, compared to $204,390 for the same period in 2023[38] - Average sales price of natural gas dropped 72%, while oil production decreased by 37% and natural gas production fell by 38%[38] Expenses - Lease operating expenses increased 40% to $142,203 during the three months ended June 30, 2024, from $101,714 during the same period in 2023[39] - General and administrative expenses decreased by 52% to $343,001 during the three months ended June 30, 2024, compared to $716,615 in the same period in 2023[42] Capital Expenditures and Investments - Capital investment expenditures totaled $766,216 during the quarter ended June 30, 2024, primarily for investments in Hupecol Meta[36] - The company received distributions totaling $292,926 and $654,142 for the three and six months ended June 30, 2024, respectively, from Hupecol Meta[37] Financial Position - At June 30, 2024, the company had a cash balance of $3,380,769 and working capital of $3,167,316, down from $4,059,182 and $3,917,231 at December 31, 2023[44] - Long-term liabilities decreased to $93,475 at June 30, 2024, from $134,167 at December 31, 2023[45] Future Plans - The company entered into a joint venture agreement with EOG Resources to drill six wells in the Wolfcamp formation, with an estimated cost of $550,000 for participation[32] - The company plans to drill one vertical well in the CPO-11 block in Colombia in the third quarter of 2024[35]

Group 1 - Houston American Energy Corp. plans to participate in the drilling of six wells in the State Finkle Unit located in the Wolfcamp formation in Reeves County, Texas, with each well having an approximate lateral length of 3 miles [3][4] - EOG Resources will act as the operator of the unit and is the principal working interest owner, while Houston American will hold approximately 0.0078 working interest in the unit [1][4] - The first well is scheduled to spud by June 30, 2024, with all six wells anticipated to be spud by September 1, 2024 [1][3] Group 2 - The estimated cost for Houston American to participate in the drilling program is approximately $600,000 [1][4] - Houston American Energy Corp. is based in Houston, Texas, and is a publicly-traded independent energy company with interests in oil and natural gas wells, minerals, and prospects [4][6]

Revenue and Production - Total oil and gas revenues decreased 36% to $147,686 for the three months ended March 31, 2024, compared to $230,024 for the same period in 2023[59]. - Net oil production decreased by 38% to 1,393 Bbl, and net gas production decreased by 28% to 12,686 Mcf for the three months ended March 31, 2024[60]. Expenses - Lease operating expenses increased 43% to $163,030 during the three months ended March 31, 2024, from $113,686 during the same period in 2023[61]. - General and administrative expenses increased by 25% to $307,140 during the three months ended March 31, 2024, compared to $245,374 in the same period in 2023[64]. Investments and Distributions - Capital investment expenditures totaled $430,803 during the quarter ended March 31, 2024, attributed to investments in Hupecol Meta[57]. - Distributions from equity investment in Hupecol Meta totaled $361,216 for the three months ended March 31, 2024[58]. Cash Flow and Balance - Cash balance at March 31, 2024, was $3,751,149, down from $4,059,182 at December 31, 2023[67]. - Operating activities provided $122,770 of cash during the three months ended March 31, 2024, compared to $19,243 during the same period in 2023[68]. Liabilities and Future Plans - Long-term liabilities decreased to $114,685 at March 31, 2024, from $134,167 at December 31, 2023[71]. - The company plans to drill one additional vertical well on the CPO-11 block by mid-2024, pending Hupecol's evaluation of asset monetization[56].

Revenue and Production - Total oil and gas revenues decreased 52% to $794,027 in 2023 from $1,638,841 in 2022, driven by a 25% decline in oil production and a 22% decline in gas production [181]. - Average sales price of oil decreased by 20% to $74.08 per barrel, while average sales price of natural gas decreased by 73% to $1.38 per Mcf [182]. Expenses - Lease operating expenses decreased 11% to $473,925 in 2023 from $531,675 in 2022, primarily due to decreased production [183]. - Depreciation and depletion expense decreased by 18% to $167,527 in 2023 from $205,458 in 2022, also attributed to reduced production [185]. - General and administrative expenses increased by 17% to $1,614,245 in 2023 from $1,374,060 in 2022, primarily due to a salary increase for the CEO and higher legal fees [187]. - An impairment charge of $537,686 was incurred in 2023 due to declines in energy prices and production related to Reeves County properties [170]. - Impairment expense of $537,686 and loss on disposal of oil and gas properties of $2,343,126 were realized in 2023 due to declines in energy prices and production [186]. Investments and Distributions - Capital investment expenditures for 2023 totaled $2,403,219, all related to direct investments in Hupecol Meta [164]. - Distributions from Hupecol Meta amounted to $1,220,954 in 2023, representing the company's share of distributable net income [165]. - Other income rose significantly to $1,369,519 in 2023 from $33,641 in 2022, driven by equity investment distributions from Hupecol Metal [188]. - Investing activities used cash of $2,403,219 in 2023, up from $1,661,405 in 2022, attributed to investments in Hupecol Meta [193]. - Capital expenditures related to Hupecol Meta increased, with an estimated $500,000 planned for an additional vertical well by mid-2024 [196]. Cash Flow and Financing - Operating activities generated cash of $263,191 in 2023, compared to cash used of $228,962 in 2022, mainly due to increased other income [192]. - Financing activities provided cash of $1,652,000 in 2023, compared to $1,543,000 in 2022, from the sale of common stock [194]. - Long-term liabilities decreased to $134,167 in 2023 from $219,148 in 2022, consisting of a reserve for plugging costs and a lease liability [195]. Production Plans and Assets - At December 31, 2023, the company had 4 wells on production in the U.S. Permian Basin and 4 wells on production in Colombia [162][163]. - The company plans to drill one additional vertical well on the CPO-11 block in Colombia by mid-2024, pending evaluation of asset monetization [166]. - The company has less than 200,000 authorized shares of common stock available for issuance to support equity capital raises as of December 31, 2023 [199]. Risk Management - The company has not historically entered into hedges or other derivative instruments to manage oil and gas price volatility [201].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ______________. Commission File Number 1-32955 HOUSTON AMERICAN ENERGY CORP. (Exact name of registrant as specified in its charter) (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ______________. Commission File Number 1-32955 HOUSTON AMERICAN ENERGY CORP. (Exact name of registrant as specified in its charter) Delaware 76-0675953 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 HOUSTON AMERICAN ENERGY CORP. (Exact name of registrant as specified in its charter) FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ______________. Commission File Number 1-32955 Delaware 76-0675953 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File No. 1-32955 HOUSTON AMERICAN ENERGY CORP. (Exact name of registrant specified in its charter) Delaware 76-0675953 (State or other jur ...