Last $0.23 USD
Change Today +0.0185 / 8.81%
Volume 129.3K
HUSA On Other Exchanges
As of 3:59 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

houston american energy corp (HUSA) Snapshot

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52 Week High
03/11/14 - $0.75
52 Week Low
12/15/14 - $0.12
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houston american energy corp (HUSA) Details

Houston American Energy Corp., an independent energy company, explores for, develops, and produces natural gas, crude oil, and condensate from properties located principally in the Gulf Coast area of the United States and South America. The company’s oil and gas properties are located primarily in the South American country of Colombia; and in the onshore Gulf Coast region of Texas and Louisiana. As of December 31, 2013, it had six gross wells. The company was founded in 1981 and is based in Houston, Texas.

2 Employees
Last Reported Date: 03/14/14
Founded in 1981

houston american energy corp (HUSA) Top Compensated Officers

Founder, Chairman, Chief Executive Officer, P...
Total Annual Compensation: $382.0K
Compensation as of Fiscal Year 2013.

houston american energy corp (HUSA) Key Developments

Securities and Exchange Commission Announces Oil-And-Gas Fraud Charges Against Houston American Energy Corp

The Securities and Exchange Commission announced charges against Houston American Energy Corp. and its CEO for making fraudulent claims about the company's oil reserves. An SEC enforcement investigation found that Houston American Energy Corp. and John F. Terwilliger fraudulently claimed that a Colombian exploration concession in which Houston American only owned a fractional interest held between 1 billion and 4 billion barrels of oil reserves, and that the reserves were worth more than $100 per share to Houston American's investors. The estimates lacked any reasonable basis and were falsely attributed to the concession's operator, whose actual estimates were much lower. The SEC's order instituting administrative proceedings also charges stock promoter Kevin T. McKnight and his firm Undiscovered Equities Inc., who were paid by Houston American to disseminate its fraudulent claims about the oil-and-gas concession project in Colombia. The SEC's Enforcement Division alleges that the fraudulent conduct by Terwilliger and Houston American occurred during several months in late 2009 and early 2010. During this time, Houston American raised approximately $13 million in a public offering and saw its stock price increase from less than $5 per share to more than $20 per share. Contrary to the lofty estimates made by Terwilliger and Houston American, the company participated in drilling multiple unsuccessful wells on the concession from 2010 to 2012, and withdrew from the operation in early 2013 without recovering any oil. The company's stock price eventually cratered under the weight of the fraud. Houston American now trades for approximately 40 cents per share, which represents a market capitalization loss of $600 million since it peaked in April 2010. The SEC's order charges Terwilliger and Houston American with violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 as well as Section 20(b) of the Exchange Act and Section 17(a) of the Securities Act of 1933. The Section 20(b) charges against Houston American and Terwilliger relate to statements made by touts and other third parties, who disseminated the Terwilliger's and Houston American's fraudulent estimates. McKnight and Undiscovered Equities are charged with violations of Section 17(b) of the Securities Act.

Houston American Energy Announces Reversal of Dismissal of Class Action Lawsuit

Houston American Energy Corp. announced that the United States Court of Appeals for the Fifth Circuit has reversed the District Court's prior dismissal of the previously disclosed securities class action lawsuit brought against the company. The appellate court ruling focused on the sufficiency of the pleadings in the case, made no determination regarding the merits of the factual allegations, and remanded the case to the District Court for further proceedings.

Houston American Energy Corp., Annual General Meeting, Jun 10, 2014

Houston American Energy Corp., Annual General Meeting, Jun 10, 2014., at 10:00 Central Standard Time. Location: the Magnolia Hotel. Agenda: To consider and elect two Class C directors to hold office for the next three years; to approve, in an advisory and non-binding vote, the compensation of named executive officers as disclosed in the proxy statement; to consider and ratify the selection of GBH CPAs, PC as independent registered public accounting firm for the 2014 fiscal year; and to transact such other business as may properly come before the meeting or any adjournments thereof.


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Valuation HUSA Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 29.4x
Price/Book 0.9x
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TEV/Sales 15.8x

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