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 ...

Revenue and Production - Total oil and gas revenues increased 23% to $1,638,841 in 2022 from $1,330,198 in 2021[179]. - Crude oil prices increased by 46% and natural gas prices increased by 24% in 2022 compared to 2021[180]. - Natural gas production volumes increased by 23% in 2022, while crude oil production declined by 26%[180]. - The average sales price for oil was $93.10 per barrel in 2022, compared to $63.60 in 2021[181]. - The average sales price for gas was $5.13 per Mcf in 2022, compared to $4.13 in 2021[181]. - Total oil sales revenue for 2022 was $995,083,000, an increase from $913,809,000 in 2021, while gas sales revenue decreased to $377,534,000 from $416,389,000[183]. Expenses and Liabilities - Lease operating expenses decreased by 12.3% to $531,675,000 in 2022 from $606,210,000 in 2021[183]. - Depreciation and depletion expense decreased by 16% to $205,458,000 in 2022 from $245,606,000 in 2021, attributed to a decrease in oil production[185]. - General and administrative expenses increased by 18% to $1,374,060,000 in 2022 from $1,168,969,000 in 2021, primarily due to a CEO bonus and salary increase[186]. - Long-term liabilities decreased to $219,148,000 at December 31, 2022, from $279,953,000 at the end of 2021[191]. Cash Flow and Investments - Cash balance at December 31, 2022, was $4,547,210, compared to $4,894,577 at the end of 2021, with working capital decreasing to $4,601,168 from $5,052,685[188]. - Investing activities used cash of $1,661,405,000 in 2022, significantly higher than $238,180,000 in 2021, mainly due to acquisitions in Hupecol Meta[189]. - Financing activities provided cash of $1,543,000 in 2022, down from $4,570,888 in 2021, with $2 million still available under the 2022 ATM offering[190]. - As of December 31, 2022, $2 million remained available to raise from the 2022 ATM offering[164]. Acquisitions and Interests - The company acquired additional interests in Hupecol Meta for a total consideration of $657,638 in 2022, increasing ownership to approximately 18%[159]. - The company holds an approximately 16% interest in the Venus Exploration Area through Hupecol Meta[160]. - Capital expenditures for Hupecol Meta increased sharply in 2022, with plans for additional drilling operations and seismic data acquisition in 2023[193]. Property Values and Other Income - The carrying value of unevaluated oil and gas properties was $2,343,126 as of December 31, 2022[176]. - Other income increased to $33,641,000 in 2022 from $12,668,000 in 2021, driven by higher interest rates on cash balances[187].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☐ 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 jurisdiction of incorporation or organization) (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t ...

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, 2022 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 juri ...

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 March 31, 2022 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 (Mark One) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 Washington, D.C. 20549 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to FORM 10-K Commission File No. 1-32955 HOUSTON AMERICAN ENERGY CORP. Securities registered pursuant to Section 12(g) of the Act: None (Title of Class) Indicate by check mark if the regis ...

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, 2021 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 ...