Houston American CEO Terwilliger out in settlement with SEC

|About: Houston American Energy Corp. (HUSA)|By:, SA News Editor

Houston American Energy (NYSEMKT:HUSA) CEO John Terwilliger has resigned and is barred from serving as an officer or director of a public company for five years under a settlement reached with the SEC.

HUSA appoints John Boylan as its new Chairman, CEO and President; Boylan has served as a director and chair of the audit and compensation committees since 2006.

Last year, the SEC charged HUSA with misleading investors by exaggerating the extent of its oil reserves in Colombia and downplaying the risks.

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