Hello MOJO Swing Trader, HUSA = is finally moving after 3 months up 12% - this may be the move we been patiently waiting for - adding 20,000 shares here $.325 range Here is the news out -
8:31AM Houston American Energy updates drilling plans; co announced that it has agreed to participate in the drilling of test wells on three prospects, each of which is presently anticipated to occur before year-end 2013 (HUSA) 0.28 : -
In addition to previously announced plans to participate in drilling a 10,000' test well in Pecos County, Texas, Houston American announced that it has agreed to participate in the drilling of test wells on three prospects, each of which is presently anticipated to occur before year-end 2013.
- In South Texas, a 4,000' test of the Lower Hockley Sand is planned targeting potential oil pay. The prospect is within a 179 acre lease block supported by 3-D seismic and is a look-a-like to a successful well nearby. A second similar prospect has been identified on the lease block.
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Houston American will own a 7.2% working interest in the well and acreage. In Jefferson Davis Parish, Louisiana, a 7,000' test of the Cris H stringer and Cris H sand is planned with the objective of gaining structure on existing productive oil wells.
- Houston American will own a 10.9% working interest in the well before payout and a 9.375% working interest after payout. In Iberville Parish, Louisiana, a 13,500' test of the Cib Haz Sands is planned. Successful wells in surrounding acreage have come on production at rates averaging approximately 800 barrels of oil per day with associated gas production. Houston American will own a 3% working interest in the well and 618 acre lease block.
Thanks for watching, and profitable trading! ProTrader Mike
email: info@mojodaytrading.com
Skype: protradermike
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