- Houston American Energy (NYSE:HUSA) says it plans to explore strategic alternatives including seeking acquisition candidates, a merger partner or sale of assets or the entire company.
- HUSA says the move follows notification from the operator of the its Serrania project in Colombia of further delays in securing the required environmental license to commence drilling operations; as a result of local opposition and continued delays in obtaining the license, the operator is evaluating its rights and obligations.
- HUSA says it does not expect to commence drilling operations on Serrania during 2016 as previously planned.