Referenced Stocks

Houston Energy's Zorro Gris #1 Well to be Plugged; Shares Slide 8% Late

By MT Newswires,  December 10, 2012, 04:18:57 PM EDT

Houston American Energy Corp. ( HUSA ) received notice from SK Innovation, operator on the company's CPO 4 Block in Colombia that it intends to plug and abandon the Zorro Gris #1 well. Following completion of the abandonment of the well, the drilling rig will be released.

SK Innovation is currently in the process of acquiring its second proprietary 3-D seismic shoot on the CPO 4 block (approximately 135 square miles), which is anticipated to be completed in 2013.

The company is currently evaluating its future plans and alternatives regarding the CPO 4 block.

HUSA shares are down 8.5% to $0.49 in late trade.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: HUSA



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