HUSA Overview

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Transaction Overview: Houston American Energy Corp. announced that Bower Family Holdings acquired a majority of the senior secured convertible note used to finance the Cedar Port property, reflecting confidence in the company's strategic direction towards sustainable energy solutions.

Financial Flexibility: The acquisition allows HUSA to improve its financial flexibility by preventing BFH from converting the outstanding principal or interest, enabling the company to advance ongoing projects and engage with strategic capital partners.

Focus on Renewable Energy: HUSA is committed to accelerating the development of its Renewable Energy Complex at Cedar Port, which includes initiatives in plastics-to-fuel and renewable chemicals, as part of its broader vision for circular energy solutions.

Cautionary Note: The announcement includes forward-looking statements that are subject to risks and uncertainties, emphasizing that actual results may differ from expectations due to various factors affecting the company's operations and market conditions.

Partnership Announcement: Houston American Energy Corp. (HUSA) has signed a binding Term Sheet with BTG Bioliquids to develop biomass-to-liquid fuels and Sustainable Aviation Fuel (SAF) projects using BTG's fast pyrolysis technology at HUSA's Cedar Port site in Texas.

Strategic Goals: The collaboration aims to create a diversified renewable-fuels platform that converts waste biomass into low-carbon fuels, complementing HUSA's existing initiatives in plastics-to-fuels and circular-economy projects.

CEO's Statement: Ed Gillespie, CEO of HUSA, emphasized the importance of this partnership in advancing their biofuels division and highlighted the extensive due diligence conducted to ensure BTG Bioliquids is a suitable collaborator.

BTG Bioliquids Overview: BTG Bioliquids specializes in converting biomass residues into renewable bioliquids, with a focus on sustainability and local processing, aiming to replace fossil fuels with their fast pyrolysis technology.

Oil & Gas Sector Performance: Oil and gas exploration and production shares increased by approximately 2.3%, with Amplify Energy rising by 8.7% and Houston American Energy by 6.4% on Friday.

Market Highlights: The article also mentions that precious metals and oil & gas exploration and production stocks were among the sector leaders on that day.

Production Commencement: Houston American Energy Corp. (HUSA) has begun production at the State Finkle Unit wells in Texas, receiving its first revenue from these operations.

Strategic Transition: HUSA aims to transition from an oil and gas exploration company to a leader in renewable energy, using revenue from traditional operations to fund this shift, including a recent acquisition of Abundia Global Impact Group focused on sustainable fuels.