SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): October 11, 2006
HOUSTON AMERICAN ENERGY CORP.
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(Exact name of registrant as specified in Charter)
Delaware 0-33027 76-0675953
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(State or other jurisdiction (Commission (IRS Employer
of incorporation or organization) File No.) Identification No.)
801 Travis Street, Suite 2020
Houston, Texas 77002
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(Address of Principal Executive Offices)(Zip Code)
713-222-6966
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(Issuer Telephone number)
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01. Other Events.
Houston American Energy Corp. (the "Company") provides the following updated
information regarding the status of drilling on its Cabiona prospect in
Colombia:
On October 6, 2006 Hupecol LLC completed the Cabiona A4 well as an oil well in
the objective C5 Sand after reaching total depth of 4523'. The well produced
approximately 565 barrels of oil on test. The well was turned to production on
October 9, 2006 and initial rates of production have varied from 800 to 1200
barrels per day of which approximately 60% to 80% was oil. The well is still
cleaning up and, as such, a stable production rate is yet to be established. The
drilling rig is currently moving to the Cabiona 8 with drilling to commence as
soon as possible.
The Company holds, through its interest in Hupecol Dorotea and Cabiona LLC ("HDC
LLC"), a 12.5% interest in the Cabiona concession. HDC LLC owns the Cabiona
concession through a contract with the Colombian National Hydrocarbon Agency
(ANH) and Hupecol LLC is the operator of the Cabiona concession.
Hupecol LLC currently plans to drill 39 wells in Colombia by the end of 2007
utilizing the two drilling rigs currently under contract and engaged in actual
drilling operations. Of these 39 wells, 23 wells are planned for contracts in
which the Company owns a 12.5% Working Interest and 16 wells are planned for
contracts in which the Company owns a 1.6% Working Interest.
The Company plans to update its Colombian activities in this same manner on a
quarterly basis.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
HOUSTON AMERICAN ENERGY CORP.
Dated: October 11, 2006
By: /s/ John Terwilliger
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John Terwilliger,
President and
Chief Executive Officer
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