Houston American Energy Corp. (HUSA) is a company focused on the exploration and production of oil and gas. The company has its properties in the Permian Basin, the Gulf Coast Region, and Louisiana. It utilizes its skill in geology, and engineering of oil and gas to seek out and assess promising drilling opportunities. It had recognized the chance that existed for small-scale energy businesses to contribute to global and domestic ventures that held the potential for noteworthy revenues and production. It was incorporated in April 2001.
Each of the company’s exploration ventures varies in scope and consists of different types of assets, such as leasehold positions, 3-D seismic stats, lease options, working interest in leases, collaboration or restricted liability company interest, or other mineral rights.
The price of HUSA stock during regular trading on March 4, 2022, was $1.90 with a surge of 32.8%. At last check in the pre-market, the stock further rallied by 57.36%.
HUSA: Key Financials
HUSA released its unaudited and consolidated financial report for the three months ended September 30, 2021. Some of the key updates are discussed below.
Revenue
Revenue in the three months in 2021 was $0.29 million comparable to $0.12 million in the corresponding quarter of 2020. The company observed a gain of $0.16 million in its revenue over the year.
EPS
Basic and diluted net loss for the three months in 2021 was $0.35 million or $0.04 comparable to $0.26 million or $0.05 in the same period in 2020. The company observed an increase in its earnings over the year.
Conclusion
HUSA stock downplayed by 8% in the past year as the oil companies were hit hard during the pandemic due to the recession in the global economy. Recently, the company gained momentum in its stock price in regular trading as well as pre-market. The sole reason behind the hike is the Russian-Ukrainian conflict which impacted the stock price to rise without any press release from the company.
