Attached files
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| EX-99.1 - EXHIBIT 99.1 - HOUSTON AMERICAN ENERGY CORP | ex99_1.htm |
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 14,
2009
HOUSTON
AMERICAN ENERGY CORP.
(Exact
name of registrant as specified in Charter)
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Delaware
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1-32955
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76-0675953
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(State
or other jurisdiction of incorporation or organization)
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(Commission
File No.)
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(IRS
Employer Identification No.)
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801
Travis St., Suite 1425
Houston,
Texas 77002
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(Address
of Principal Executive Offices)(Zip Code)
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713-222-6966
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(Issuer
Telephone number)
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(Former
name or former address, if changed since last report)
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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):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
1.01
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Entry
Into a Material Definitive
Agreement
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On
October 16, 2009, Houston American Energy Corp (the “Company”) issued a press
release announcing the finalization and effectiveness of a Farmout Agreement and
Joint Operating Agreement with SK Energy Co. LTD pursuant to which the Company
will pay 12.5% of certain seismic acquisition costs and 25% of certain other
past and future costs relating to the CPO 4 Contract for Exploration and
Production relating to the approximately 345,452 acre CPO 4 Block in the Llanos
Basin of Colombia and for which the Company will receive a 25% interest in the
CPO 4 Contract.
The
assignment to the Company of its rights under the CPO 4 Contract, and the
effectiveness of the Farmout Agreement and Joint Operating Agreement, were
subject to approval of such assignment by the National Hydrocarbon Agency (the
“ANH”) in Colombia. On October 14, 2009, the Company was notified
that the ANH had approved the assignment contemplated by the Farmout Agreement
and the Joint Operating Agreement. As a result, the Joint Operating
Agreement became effective, retroactive to May 31, 2009. The Joint
Operating Agreement supersedes and terminates the Farmout
Agreement.
Under the
terms of the Joint Operating Agreement, SK Energy Co. LTD will act as operator
for the project area covered by the CPO 4 Contract, subject to the supervision
and direction of an Operating Committee on which each participant, including the
Company, shall have a representative with voting rights based on each
participant’s percentage interest in the CPO 4 Contract. The Joint
Operating Agreement shall continue for the term of the CPO 4 Contract and
thereafter until all wells have been plugged and abandoned or otherwise disposed
of.
The press
release is attached to this Current Report on Form 8-K as Exhibit
99.1.
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Item
9.01.
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Financial
Statements and Exhibits.
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(d)
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Exhibits
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Press
release dated October 16, 2009
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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.
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HOUSTON
AMERICAN ENERGY CORP.
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Dated: October
16, 2009
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By:
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/s/
James J. Jacobs
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James
J. Jacobs,
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Chief
Financial Officer
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