Houston American Energy Corporation (NYSEMKT: HUSA) is off to an incredibly strong start to the trading session today, and for good reason. An 8-K submitted by the company seems to be causing some serious excitement. As a result, the stock is climbing in a big way, prompting our partners at Trade Ideas to alert us to the gains. At the moment (10:36), HUSA is trading at $1.03 per share after a gain of $0.32 per share (45.15%) thus far today.
HUSA Provides Update Via 8-K
As mentioned above, Houston American Energy is off to an incredibly strong day in the market. After a search through various sources, the only update that seems to be out there is an 8-K in which the company informed investors of updated slides to its slide deck. Overall, the deck is overwhelmingly positive. To view it, click here! Here's the basic summary from the slide deck:
- Entry position in premier location at the Permian Basin provides new growth area
- Strong operating partners with extensive experience in respective operating areas
- Founders in the Permian Basin
- Hupecol in Colombia
- Clean Company – NO DEBT and simple capital structure
- Tax loss carryforward - ~$50 million
- NYSE MKT listed with broad shareholder base
- Significant potential upside and near-term cash flow with Permian assets
- Significant potential upside in Columbian assets
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on HUSA. In particular, we're interested in digging further into the company's operations considering the strong capital structure and financial data surrounding the company. We'll continue to follow the stock closely and bring the news to you as it breaks!
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