General News | Deals - Acquisition, Mergers, Divestitures
Houston American Looking into Strategic Transactions; Taps Firm
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Houston American Energy Corp. announced that it has engaged Drexel Hamilton to work with the Company to assist in making merger and acquisitions introductions, negotiating deals, capital sourcing, and other supporting services.
John Boylan, Chief Executive Officer of the Company, commented, "We believe that building a relationship with a national brokerage firm in anticipation of future mergers or acquisitions will accelerate the steps to achieve our strategic goals. To that end, we are pleased to have engaged Drexel Hamilton to leverage our firm's bandwidth in achieving these previously announced objectives."
Chris Freeman, Energy Investment Banker at Drexel Hamilton, stated, "Most oil and gas companies today are trying to sell assets to address their debt loads. We like Houston American Energy Corp. in that it currently has no debt, its shares trade on a recognized exchange and it has an experienced management team in the oil and gas industry. Houston American's May 16, 2016 release announced new strategic alternatives being sought by the Company and Drexel Hamilton has been engaged to provide support with acquisition candidates, merger partners, other alternatives and capital sourcing to support those efforts."
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