WorldWide Drilling Resource

New San Andres Drilling Program Adapted from a Press Release by Houston American Energy Corp. Houston American Energy Corp. is participating in a new drilling program in the San Andres Formation located in the Northern Shelf of the Permian Basin. Under the agreement, the company will acquire a 20% working interest in an existing 5871-acre block. Houston American will pay 26.667% of the costs for an initial test well through the point at which the well is drilled, completed, equipped, and ready for operation, production, or disposal. All additional operations will be conducted as needed. Also outlined, was an area of mutual inter- est (AMI) in approximately 20,367 acres in the area of, and including, the existing acreage covered by the agreement. The parties will have the right to participate, at cost, in any interest acquired in the AMI over the following five years. Jim Schoonover, CEO of Houston American Energy stated, “This agreement is the culmination of more than a year of effort to identify a suitable growth platform. We believe this agreement has the potential to be such a plat- form. We expect an initial horizontal test well will commence on the block before the end of 2019. If successful, we believe the existing acreage will support drilling of up to 50 wells over the next four to five years with the acquisition of additional acreage under the AMI supporting additional wells. Upon completion of our acquisition of this acreage, together with our existing holdings in Reeves County and Yoakum County, we believe we will be positioned to resume sustainable growth in production, revenues, reserves, and shareholder value.” www.starironworks.com SERVING THE WATER WELL INDUSTRY Serving the Drilling Industry 257 Caroline Street Punxsutawney, PA 15767 800-927-0560 • 814-427-2555 Fax: 814-427-5164 49 WorldWide Drilling Resource ® NOVEMBER 2019 The WWDR office will be closed Thursday, November 28, to allow our employees to spend time with their families. Limited staff will be available on Friday, November 29; e-mail will be monitored. We wish you and yours a blessed and safe holiday. DIR