HOUSTON, Sept. 27, 2016 /PRNewswire/ -- Houston American Energy
Corp. (NYSE MKT: HUSA, or the "Company") today announced receipt, on September 26, 2016, of
notification from NYSE Regulation that the Company continues to be in non-compliance with the NYSE MKT's continued listing
standards and that the listing of the Company's common stock was being continued pursuant to an extension.
The notification cited continued failure to comply with Section 1003(a)(iii) of the NYSE MKT Company Guide (the "Company
Guide") as a result of the Company's failure to maintain stockholders' equity of at least $6
million coupled with reported net losses in its five most recent fiscal years. The notification also cited failure to
comply with Section 1003(f)(v) of the Company Guide as a result of the continued trading of the Company's common stock at a low
price.
As previously reported in a Current Report on Form 8-K filed on March 22, 2016, the Company was previously notified by
NYSE MKT that the Company's continued listing was predicated on either affecting a reverse stock split or otherwise demonstrating
sustained price improvement no later than September 19, 2016. The notification reflects the
determination by NYSE Regulation that the Company failed to demonstrate sustained price improvement, through a reverse split or
otherwise, by the September 19, 2016 deadline. Pursuant to the most recent notification, NYSE
Regulation has granted to the Company an extension to the cure period with respect to its stock price through January 3, 2017. If the Company is not in compliance with the continued listing standards by January 3, 2017, or if it does not make progress consistent with the plan in the interim, the NYSE Regulation
staff may initiate delisting proceedings as appropriate.
The NYSE MKT notice has no immediate impact on the listing of the Company's common stock, which will, while the Company
attempts to regain compliance with the NYSE MKT listing standards and subject to periodic review by NYSE Regulation, continue to
trade on the NYSE MKT under the symbol "HUSA," with the added designation of ".BC" to indicate that the Company is not in
compliance with the NYSE MKT's listing standards.
About Houston American Energy Corp.
Based in Houston, Texas, Houston American Energy Corp. is a publicly-traded independent
energy company with interests in oil and natural gas wells, minerals and prospects. The Company's business strategy includes a
property mix of producing and non-producing assets with a focus on Texas, Louisiana and Colombia.
For additional information, view the company's website at www.HoustonAmericanEnergy.com or contact the Houston American Energy Corp. at (713) 222-6966.
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SOURCE Houston American Energy Corp.