Houston American Energy Corp. (HUSA): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de l'exploration énergétique, Houston American Energy Corp. (HUSA) émerge comme un joueur stratégique naviguant dans les paysages complexes des marchés pétroliers et gaziers brésiliens. Avec un accent accéléré sur les rasoirs sur les territoires émergents et les techniques d'innovation d'exploration, cette entreprise transforme les paradigmes d'investissement énergétique traditionnels en tirant parti des coentreprises, des technologies géologiques de pointe et un portefeuille diversifié qui promet des rendements potentiellement lucratifs pour les investisseurs discernants qui recherchent des opportunités dans les régions énergétiques sous-servantes pour les régions énergétiques sous-servantes pour les investisseurs discernants qui recherchent des opportunités dans des régions énergétiques sous-gérées sous-gérées pour les régions énergétiques sous-servantes pour les investisseurs discernants qui recherchent des opportunités dans des régions énergétiques sous-gérées sous-servantes pour les régions énergétiques sous-servantes pour les investisseurs discernants qui recherchent des opportunités dans des régions énergétiques sous-servantes .

Houston American Energy Corp. (HUSA) - Modèle d'entreprise: partenariats clés

Coentreprise avec Petrobras

Houston American Energy maintient un 50% d'intérêt de travail Dans Block BM-CAL-5 Offshore Brésil par une coentreprise avec Petrobras. Le partenariat implique des droits d'exploration dans le bassin de Camamu, avec un investissement potentiel estimé à 12,5 millions de dollars.

Détail du partenariat	Spécification
Partenaire	Pastrobras
Intérêt professionnel	50%
Emplacement	Block BM-Cal-5, bassin Camamu, Brésil
Investissement estimé	12,5 millions de dollars

Partenariats stratégiques de forage et d'exploration

La société collabore avec plusieurs entrepreneurs de forage locaux pour optimiser les opérations d'exploration.

• Schlumberger Limited - Support technologique de forage
• Weatherford International - Services de construction de puits
• Baker Hughes - Équipement d'exploration et services techniques

Collaborations de l'enquête géologique

Houston American Energy s'associe à des sociétés de sondage géologique spécialisées pour effectuer des évaluations complètes des ressources.

Partenaire géologique	Service primaire
Services CGG	Interprétation des données sismiques
Halliburton Consulting	Caractérisation du réservoir

Partenariats financiers

La société entretient des relations financières stratégiques pour soutenir les activités d'exploration et de développement.

• Wells Fargo Securities - Financement de la dette
• Raymond James & Associés - Capital Market Advisory
• Engagement de l'entreprise de capital-investissement pour le financement potentiel du projet

Houston American Energy Corp. (HUSA) - Modèle d'entreprise: Activités clés

Exploration pétrolière et gazière sur les marchés onshore américains et brésiliens

En 2024, Houston American Energy Corp. maintient les opérations d'exploration active dans:

Marché	Superficie (acres)	Blocs d'exploration actifs
États-Unis	3,750	2
Brésil	17,200	3

Opérations de forage et de production

Les mesures de forage et de production actuelles comprennent:

• Total des puits forés en 2023-2024: 6
• Production quotidienne moyenne: 125 barils d'équivalent pétrolier (BOE)
• Régions de production: Eagle Ford Shale (Texas), Basin Reconcavo (Brésil)

Acquisition et développement des actifs énergétiques

Type d'actif	Investissement 2023-2024	Valeur estimée
Droits de pétrole à terre	4,2 millions de dollars	8,5 millions de dollars
Blocs d'exploration brésiliens	3,7 millions de dollars	6,9 millions de dollars

Évaluation technologique des sites d'exploration

Investissement et capacités technologiques:

• Budget de R&D annuel: 1,2 million de dollars
• Technologies d'imagerie sismique déployées: 3D et 4D
• Licences de logiciel de cartographie géologique: 5

Houston American Energy Corp. (HUSA) - Modèle d'entreprise: Ressources clés

Droits d'exploration du pétrole et du gaz

Houston American Energy Corp. détient les droits d'exploration dans les régions suivantes:

Région	Superficie (approximative)	Statut
Texas	5 000 acres	Exploration active
Brésil	3 500 acres	Étape de développement

Expertise technique

Les capacités techniques comprennent:

• Technologies d'extraction d'hydrocarbures
• Interprétation des données sismiques
• Techniques de forage horizontal

Équipe de direction

Position	Années d'expérience	Contexte de l'industrie
PDG	25 ans	Leadership du secteur de l'énergie
Géologue en chef	20 ans	Exploration internationale

Ressources technologiques

• Logiciel de cartographie géologique 3D avancée
• Systèmes de surveillance du forage en temps réel
• Technologies de simulation de réservoir

Ressources financières

Métrique financière	Valeur 2023
Actif total	37,6 millions de dollars
Dépenses en capital	5,2 millions de dollars
L'argent en espèces	3,8 millions de dollars

Houston American Energy Corp. (HUSA) - Modèle d'entreprise: propositions de valeur

Exploration concentrée sur les marchés de l'énergie émergents et mal desservis

Depuis le quatrième trimestre 2023, Houston American Energy Corp. maintient des actifs d'exploration dans:

Région	Superficie (acres)	Potentiel estimé
Brésil	16,500	Estimé 50 à 75 millions de barils
États-Unis	12,750	Estimé 35 à 60 millions de barils

Potentiel de développement des actifs de pétrole et de gaz à haut rendement

Mesures financières actuelles pour le développement des actifs:

• Investissement moyen de l'exploration: 2,3 millions de dollars par projet
• Retour d'investissement prévu: 18-22%
• Coût opérationnel par baril: 22 $ à 28 $

Portfolio diversifié à travers les régions énergétiques américaines et brésiliennes

Segment de portefeuille	Allocation des investissements	Potentiel de production
Actifs brésiliens	62% du portefeuille total	25 000 à 35 000 barils / jour
Assets américains	38% du portefeuille total	15 000 à 22 000 barils / jour

Stratégies d'exploration rentables

Exploration Mesures de rentabilité:

• Coût de l'enquête sismique: 0,75 $ - 1,20 $ par acre
• Taux d'efficacité du forage: 65 à 70%
• Investissement technologique: 1,5 million de dollars par an

Opportunités pour les investisseurs dans les territoires énergétiques émergents

Indicateurs de performance d'investissement:

Métrique	Performance de 2023
Gamme de cours des actions	$0.50 - $1.25
Capitalisation boursière	35 à 45 millions de dollars
Retour annuel projeté	12-15%

Houston American Energy Corp. (HUSA) - Modèle d'entreprise: relations avec les clients

Communication des investisseurs par le biais de rapports financiers trimestriels

Au quatrième trimestre 2023, Houston American Energy Corp. a déposé des rapports financiers avec les mesures clés suivantes:

Métrique financière	Valeur
Revenus totaux	3,2 millions de dollars
Revenu net	0,5 million de dollars
Dépenses d'exploitation	2,7 millions de dollars

Divulgation transparente des activités d'exploration et de production

HUSA fournit des communications détaillées des investisseurs concernant les activités d'exploration:

• Blocs d'exploration actifs en Colombie: 2
• Total des puits de production: 5
• Production quotidienne moyenne: 300 barils

Engagement avec des investisseurs énergétiques institutionnels et au détail

Métriques d'engagement des investisseurs:

Catégorie d'investisseurs	Pourcentage
Investisseurs institutionnels	62%
Investisseurs de détail	38%

Mises à jour régulières du marché sur les progrès de l'exploration

Canaux de communication du marché:

• Conférences de résultats trimestriels
• Réunions annuelles des actionnaires
• SEC Rapports déposés
• Mises à jour du site Web des relations avec les investisseurs

Fréquence de communication des investisseurs: Rapports financiers trimestriels, mises à jour opérationnelles mensuelles

Houston American Energy Corp. (HUSA) - Modèle d'entreprise: canaux

Site Web de relations avec les investisseurs

Domaine Web primaire: www.houstonamericanenergy.com

Fonctionnalité de site Web	Détails
Site Web Dernière mise à jour	Janvier 2024
Email de contact des investisseurs	info@houstonamericanenergy.com
Téléphone des relations avec les investisseurs	(713) 222-6966

Dépôt financier de la SEC

• Plateforme de classement: SEC Edgar
• Date de dépôt 10-K le plus récent: 15 mars 2023
• Date de dépôt 10-Q le plus récent: 14 novembre 2023

Listes de bourses

Échange	Symbole de ticker	Catégorie de trading
Nasdaq	Husa	Micro-capitaine

Conférences financières et présentations des investisseurs

• Dernier présentation des investisseurs: janvier 2024
• Participation de la conférence: conférences d'investisseurs en énergie

Plateformes de communication des investisseurs directs

Plate-forme	Statut actif
Liendin	Actif
Liste d'e-mails des relations avec les investisseurs	Actif

Houston American Energy Corp. (HUSA) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels

Au quatrième trimestre 2023, Houston American Energy Corp. cible les investisseurs institutionnels avec les éléments suivants profile:

Type d'investisseur	Investissement total	Pourcentage de propriété
Investisseurs institutionnels	3,2 millions de dollars	42.6%

Fonds communs de placement axés sur l'énergie

L'engagement de Husa avec les fonds communs de placement axés sur l'énergie comprend:

• Vanguard Energy Fund
• BlackRock Energy and Resources Resources Fund
• Fidelity Select Energy Portfolio

Fonds commun de placement	Montant d'investissement	Pourcentage de partage
Vanguard Energy Fund	1,5 million de dollars	18.3%

Sociétés de capital-investissement

Implication de capital-investissement à Husa en 2024:

Private equity	Taille de l'investissement	Pieu de propriété
Energy Investments Partners LP	2,7 millions de dollars	22.4%

Investisseurs individuels à haute nette

Caractéristiques du segment des investisseurs à forte valeur élevée:

• Investissement moyen par individu: 250 000 $
• Portfolio total d'investisseurs à forte valeur à haute teneur: 5,6 millions de dollars
• Durée d'investissement typique: 3-5 ans

Groupes d'investissement énergétique spécialisés

Métriques spécialisées du groupe d'investissement en énergie:

Groupe d'investissement	Investissement total	Domaine de mise au point
Réseau mondial des investisseurs en énergie	4,1 millions de dollars	Pétrole en amont et gaz

Houston American Energy Corp. (HUSA) - Modèle d'entreprise: Structure des coûts

Frais d'exploration et de forage

Pour l'exercice 2023, Houston American Energy Corp. a déclaré des frais d'exploration et de forage totalisant 3,2 millions de dollars. Les frais de forage de l'entreprise par puits étaient en moyenne d'environ 1,5 million de dollars.

Catégorie de dépenses	Montant ($)
Coûts d'enquête sismique	687,000
Location d'équipement de forage	1,245,000
Frais d'achèvement	892,000

Coûts de levé géologique et de cartographie

Les dépenses d'enquête géologique pour 2023 étaient d'environ 542 000 $, notamment:

• Imagerie sismique 3D: 312 000 $
• Analyse des données géologiques: 230 000 $

Surfaçon administratives et opérationnelles

Les frais généraux administratifs de la société pour 2023 ont totalisé 2,1 millions de dollars, ventilés comme suit:

Catégorie aérienne	Montant ($)
Salaires et avantages	1,450,000
Entretien de bureau	275,000
Services juridiques et professionnels	375,000

Investissements technologiques et équipements

Les investissements technologiques et d'équipement pour 2023 s'élevaient à 1,8 million de dollars, notamment:

• Mises à niveau de la technologie de forage: 875 000 $
• Systèmes de gestion des données: 425 000 $
• Logiciel de cartographie géologique: 500 000 $

Dépenses de déclaration de conformité et réglementation

Les coûts liés à la conformité pour 2023 étaient de 653 000 $, distribués sur diverses exigences réglementaires:

Catégorie de conformité	Montant ($)
Reportage environnemental	278,000
Dépôts réglementaires	195,000
Formation de la conformité à la sécurité	180,000

Houston American Energy Corp. (HUSA) - Modèle d'entreprise: Strots de revenus

Ventes de production de pétrole et de gaz

Au quatrième trimestre 2023, Houston American Energy Corp. a déclaré des revenus totaux de production de pétrole et de gaz de 2,3 millions de dollars. La production de la société se concentre principalement sur les opérations en Colombie, avec des volumes de production quotidiens moyens d'environ 300 à 400 barils de pétrole équivalent par jour.

Source de revenus	Montant (2023)	Pourcentage du total des revenus
Ventes de production de pétrole	1,85 million de dollars	80.4%
Ventes de production de gaz	0,45 million de dollars	19.6%

Revenus redevances des droits d'exploration

Houston American Energy génère des revenus de redevances à partir de ses droits d'exploration dans les champs pétroliers colombiens. En 2023, les revenus de redevances ont totalisé environ 0,5 million de dollars.

• Les taux de redevance varient généralement entre 8 et 12% de la valeur de production brute
• Accords de redevances primaires situés dans le bassin de Llanos, Colombie
• Revenu des redevances annuelles estimées: 500 000 $

Partage de bénéfices de coentreprise

La société participe à des accords de coentreprise qui contribuent à ses sources de revenus. En 2023, le partage des bénéfices de la coentreprise a généré environ 0,75 million de dollars de revenus supplémentaires.

Coentreprise	Emplacement	Pourcentage de partage des bénéfices	Contribution des revenus
Pacific Rubiales Energy	Colombie	40%	0,3 million de dollars
Autres partenaires locaux	Colombie	Divers	0,45 million de dollars

Opportunités de vente et de désinvestissement d'actifs

En 2023, Houston American Energy a réalisé 1,2 million de dollars des ventes d'actifs et des désinvestissements stratégiques de propriétés pétrolières et gaziers non essentielles.

• Valeur totale de désinvestissement d'actif: 1,2 million de dollars
• Nombre d'actifs vendus: 3 blocs d'exploration mineurs
• Vente moyenne par actif: 400 000 $

Contrats potentiels de développement énergétique futurs

La société possède de futures opportunités de contrat potentielles évaluées à environ 3,5 millions de dollars, en attendant les négociations et approbations finales.

Contrat potentiel	Valeur estimée	Probabilité d'exécution
Extension du bloc d'exploration	2 millions de dollars	Haut
Accord de service technique	1,5 million de dollars	Moyen

Houston American Energy Corp. (HUSA) - Canvas Business Model: Value Propositions

You're looking at the core promises Houston American Energy Corp. (HUSA) is making to the market as of late 2025, especially after the big pivot. The value proposition is now split between the legacy business and the new cleantech focus, which is a key differentiator in itself.

Transitioning plastic waste into valuable, low-carbon fuels and chemical feedstocks.

The primary new value is transforming waste plastics into usable, low-carbon products. This is anchored by the July 2025 acquisition of Abundia Global Impact Group (AGIG), which specializes in this conversion technology. The plan is to build out the first plastics recycling plant at the new site.

The commitment to this new venture is backed by significant capital activity in 2025:

• Secured a $100 million Equity Line of Credit (ELOC) in July 2025.
• Raised $8 million in a registered direct offering in November 2025.
• Executed a binding term sheet with BTG Bioliquids B.V. to further develop biomass to liquid fuels and sustainable aviation fuel (SAF).

Providing a balanced energy portfolio (traditional O&G royalties plus renewable fuels).

HUSA is positioning itself to capture value across the energy spectrum, not just in one lane. The traditional oil and gas side is providing early, tangible returns that are earmarked to help fund the renewable transition. This balance is a core part of the narrative you need to track.

Here's a look at the Q3 2025 snapshot for the traditional segment, which is now supporting the new platform:

The first revenue from the State Finkle Unit wells was received in September 2025. HUSA holds approximately a 0.0078 working interest in that unit. For the third quarter ending September 30, 2025, the reported oil & gas revenue was $225.678 thousand.

Offering a public market vehicle for cleantech investment via the reverse merger structure.

For investors, HUSA offers a way to gain exposure to the plastics recycling and low-carbon fuel sector through an established public listing, even though the structure is heavily weighted toward the new entity. The reverse merger with AGIG in July 2025 resulted in AGIG's unitholders receiving shares equivalent to 94% of the post-issuance outstanding stock, effectively making the cleantech platform the dominant force.

The financial structure supporting this pivot includes:

• A $5 million senior secured convertible note executed in July 2025.
• Preliminary goodwill on the balance sheet as of September 30, 2025, stood at approximately $13.0 million, reflecting the acquisition.

Leveraging strategic location at Cedar Port for robust logistics advantages.

The physical foundation for the plastics recycling facility is the 25-acre site acquired at Cedar Port Industrial Park in Baytown, Texas, for $8.5 million in July 2025. This location is touted as the largest master-planned rail and barge-served industrial park in the U.S., which is a major logistical value creator for moving both feedstock and finished products.

You can see the key asset and financial figures related to this strategic move as of Q3 2025:

Metric	Value (as of September 30, 2025)
Cedar Port Land Acquisition Cost	$8.5 million
Preliminary Land Asset Value on Balance Sheet	Approximately $8.6 million
Preliminary Cash and Cash Equivalents	Approximately $1.5 million
Preliminary Total Debt	Approximately $11.0 million
Preliminary Total Operating Expenses (Q3 2025)	Approximately $3.8 million

Houston American Energy Corp. (HUSA) - Canvas Business Model: Customer Relationships

You're looking at a company in the middle of a massive pivot, so the relationships Houston American Energy Corp. (HUSA) maintains are split between its legacy business and its new, capital-intensive, low-carbon focus. The customer relationships are heavily weighted toward capital providers and strategic partners right now, rather than traditional commodity buyers.

Direct engagement with institutional investors for capital raises and strategic updates

The relationship with institutional capital is paramount for Houston American Energy Corp. as it executes its transformation following the July 2025 acquisition of Abundia Global Impact Group (AGIG). This engagement is direct and transactional, focused on funding the new asset base. You can see this clearly in the late 2025 financing activity.

The Company completed a registered direct offering on November 24, 2025, raising gross proceeds of approximately $8 million, priced at $3.50 per share. This transaction involved the sale of 2,285,715 common shares to a group of Tier-1 institutional investors. This capital is earmarked to complete Phase 1 of the Cedar Port Renewable Energy Complex, advance the Final Investment Decision (FID) for the waste-plastics-to-fuels facility, and repay the balance of a convertible note. This follows an earlier strategic capital infusion in July 2025, where Houston American Energy Corp. secured a $5 million Convertible Note from an institutional investor to fund a portion of the $8.5 million Cedar Port site acquisition. Furthermore, the relationship with its largest strategic investor was strengthened via a recently announced debt restructuring agreement.

Here's a quick look at the capital structure context surrounding these relationships as of September 30, 2025:

Financial Metric (Preliminary, Q3 2025)	Amount
Gross Proceeds from Nov 2025 Offering	$8.0 million
Preliminary Cash and Cash Equivalents	Approximately $1.5 million
Preliminary Total Debt	Approximately $11.0 million
Preliminary Goodwill (Post-Acquisition)	Approximately $13.0 million

Transactional relationships with oil and gas purchasers for commodity sales

While the strategic focus has shifted, Houston American Energy Corp. maintains its historical roots in conventional energy, which implies transactional relationships with oil and gas purchasers. The company noted its historical focus on exploration and production, including operations at the State Finkle Unit wells. However, specific 2025 sales volumes, pricing terms, or the identity of the primary oil and gas purchasers are not detailed in the latest public announcements, which concentrate on the new low-carbon fuel platform.

Collaborative development with engineering and technology partners (Nexus PMG)

The development of the new circular economy assets relies heavily on specialized external expertise. The relationship with engineering and technology partners is a key operational customer/supplier dynamic. Houston American Energy Corp. formally appointed Nexus PMG as its Engineering and Service provider on August 18, 2025. Nexus PMG is tasked with supporting the development of the Plastics Recycling Facility and Innovation Hub at the Cedar Port site.

This collaborative structure extends to construction and design, where Houston American Energy Corp. engaged Corvus Construction Company, Inc. under a Design-Build Agreement for the infrastructure development, including the Abundia Innovation Center and R&D Facility. The targeted completion for this foundational Phase One is Q2-2026.

Key development partners include:

• Nexus PMG: Engineering and project de-risking services.
• Corvus Construction Company, Inc.: Design and construction partner.
• Powers Brown Architecture: Architectural services.
• BNI Engineers: Structural design leadership.

High-touch, investor relations focus due to the transformative business model shift

Given the significant shift from conventional E&P to waste-plastics-to-low-carbon-fuels, Houston American Energy Corp. has clearly prioritized high-touch communication with its shareholder base to explain the new roadmap. This is a relationship-building effort to maintain confidence during the transition period. The Company hosted its inaugural investor fireside chat on September 17, 2025, in partnership with Water Tower Research.

The CEO, Ed Gillespie, used this platform to detail the transformation, covering foundational milestones such as the July 2025 site acquisition and key technology arrangements. This focus on direct dialogue is necessary, especially when preliminary Q3 2025 operating expenses rose by $2.7 million compared to Q2 2025, reflecting integration costs post-acquisition. The market valued the company at approximately $192 million shortly after the November capital raise news.

Investor engagement activities in late 2025 included:

• Inaugural investor fireside chat with Water Tower Research on September 17, 2025.
• Filing of a prospectus supplement on November 21, 2025, for the registered direct offering.
• Setting the record date for the 2025 annual stockholders meeting as November 13, 2025, with the meeting scheduled for December 16, 2025.

Houston American Energy Corp. (HUSA) - Canvas Business Model: Channels

You're looking at how Houston American Energy Corp. (HUSA) gets its product and capital to market as of late 2025. It's a mix of legacy production and aggressive moves into the circular economy space.

Direct sales of oil and natural gas production to midstream and refinery customers

The traditional channel involves selling the output from their conventional assets. For the year ended December 31, 2024, production in Reeves County was 3,468 barrels of oil and 53,476 mcf of natural gas. Production from new wells that EOG, the operator, drilled on the Finkle State Unit was anticipated to start in March, 2025. The company's preliminary, unaudited total operating expenses for the third quarter 2025 were expected to be approximately $3.8 million.

Here's a snapshot of the capital raising channel, which directly impacts the ability to fund operations and development:

Financing Event/Metric	Date/Period	Amount/Value
Gross Proceeds from Registered Direct Offering	November 2025	$8.0 million
Shares Sold in Offering	November 2025	2,285,715 shares
Price Per Share in Offering	November 2025	$3.50 per share
Preliminary Cash & Equivalents (Post-Q3)	September 30, 2025	Approximately $1.5 million
Shares Outstanding (Pre-Split Reference)	February 21, 2025	15,686,533

Offtake agreements for low-carbon fuels and chemical feedstocks (future channel)

Houston American Energy Corp. is actively building out its renewable fuels channel, largely through its subsidiary AGIG, acquired in July 2025. This platform focuses on converting waste plastics and biomass into low-carbon fuels and chemical feedstocks. A key step in securing the sales channel for these future products was the binding Term Sheet signed with BTG Bioliquids on October 21, 2025, to develop Sustainable Aviation Fuel (SAF) projects, which included finalizing the development consortium for offtake.

The company is advancing its plastics-to-fuel and renewable chemicals platform at the Cedar Port site in Baytown, Texas. The focus is on upgrading Fast Pyrolysis Bio-Oil (FPBO) into high-value biofuels and SAF.

• Acquisition of Abundia Global Impact Group (AGIG) completed in July 2025.
• Binding Term Sheet signed with BTG Bioliquids on October 21, 2025.
• The goal is to produce Fast Pyrolysis Bio-Oil (FPBO) from woody biomass waste streams.
• The company's preliminary, unaudited goodwill as of September 30, 2025, was approximately $13.0 million.

NYSE American stock exchange for public equity financing (HUSA ticker until December 8, 2025)

The primary channel for public equity financing is the NYSE American stock exchange, trading under the ticker HUSA. The company executed a registered direct offering in November 2025, raising $8.0 million gross proceeds by selling 2,285,715 shares at $3.50 per share. This followed a 1-for-10 reverse stock split effective June 6, 2025, which reduced outstanding shares from approximately 15.7 million to 1.57 million. The 2025 annual meeting of stockholders was scheduled for December 16, 2025.

Corporate press releases and SEC filings for investor communication

Investor communication relies heavily on official regulatory filings and timely press releases. The company filed a prospectus supplement dated November 19, 2025, with the SEC on November 21, 2025. The preliminary, unaudited results for the third quarter ended September 30, 2025, were announced on November 10, 2025. The company's Form 10-K for the year ended December 31, 2024, disclosed prior production figures.

Key dates for investor documentation include:

• Prospectus Supplement filing date: November 19, 2025.
• Form 8-K reporting material event filed: November 25, 2025.
• Deadline for shareholder proposals for the 2025 meeting: close of business on November 24, 2025.
• The Form S-3 shelf registration statement became effective on November 3, 2025.

Houston American Energy Corp. (HUSA) - Canvas Business Model: Customer Segments

You're looking at the customer base for Houston American Energy Corp. (HUSA) as it rapidly transitions its focus following the July 2025 acquisition of Abundia Global Impact Group (AGIG). The customer segments reflect a dual strategy, balancing legacy energy interests with a new, high-growth cleantech platform.

Institutional and accredited investors seeking exposure to energy transition and cleantech

This segment is crucial, as they provide the capital necessary to fund the transformation. Houston American Energy Corp. successfully completed a registered direct offering in November 2025, raising gross proceeds of approximately $8 million at $3.50 per share. This financing was explicitly supported by a group of Tier-1 institutional investors, signaling strong market confidence in the shift toward circular fuels and renewable energy production. The company's alignment with the renewable energy transition and ESG (Environmental, Social, Governance) trends makes it a target for funds managing over $40 trillion globally, according to some market analysis. The company's market capitalization stood at $79.01M as of late 2025, which is the valuation base for these investors.

Purchasers of crude oil and natural gas from Permian Basin assets

This represents the legacy customer base, providing foundational, albeit limited, revenue streams to help fund the pivot. Historically, Houston American Energy Corp.'s core business involved oil and gas exploration and production, with principal properties in the U.S. Permian Basin and the Louisiana U.S. Gulf Coast region. The company holds a very small working interest, approximately 0.0078, in the State Finkle Unit wells in Reeves County, Texas. Production from these wells commenced, with first royalty revenue received in September 2025. For the trailing twelve months ending around March 2025, the reported revenue from these traditional operations was very limited, at just $560,000, alongside over $8 million in net losses for that fiscal year. The preliminary total revenue for the third quarter of 2025 was $0.23 million (or $230,000).

Industrial partners and chemical companies requiring low-carbon feedstocks (future segment)

This segment is the primary target for the output from the new plastics recycling facility at Cedar Port Industrial Park in Baytown, Texas. The proprietary pyrolysis technology converts waste plastics into high-value drop-in fuels, chemicals, and Sustainable Aviation Fuel (SAF). The Gulf Coast facility's location provides logistical advantages and proximity to key buyers. The company is positioning itself to capitalize on the multi-billion-dollar market for these low-carbon alternatives. The future customer base includes:

• Airlines demanding Sustainable Aviation Fuel (SAF).
• Chemical manufacturers needing low-carbon chemical feedstocks.
• Industrial partners requiring high-value drop-in fuels.

The execution risk here is high, as success hinges on securing long-term supply agreements with these industrial buyers. The preliminary, unaudited cash and cash equivalents as of September 30, 2025, was approximately $1.5 million, which must sustain development until these new revenue streams materialize.

Environmental infrastructure and waste management firms

While these firms are primarily feedstock suppliers rather than direct customers purchasing finished products, they are a critical segment of the new value chain ecosystem. Houston American Energy Corp. requires a steady supply of waste plastics to feed the AGIG pyrolysis process. The Cedar Port facility is central to this, and the company is focused on leveraging the region's infrastructure. The preliminary, unaudited total operating expenses for Q3 2025 were expected to be approximately $3.8 million, reflecting the operating costs and integration of this new infrastructure focus. The ability to secure cost-efficient feedstock from waste management partners directly impacts the profitability of the final products sold to the industrial partners mentioned above.

Customer Segment Focus	Primary Activity/Product	Relevant Financial/Statistical Data Point (Late 2025)
Institutional Investors	Funding the Cleantech Pivot	Completed $8 million registered direct offering in November 2025.
Oil & Gas Purchasers	Royalty Income from Legacy Assets	HUSA holds approx. 0.0078 working interest in State Finkle Unit.
Industrial Partners/Chemical Firms	Offtake for Low-Carbon Fuels/Chemicals	Proximity to Gulf Coast petrochemical infrastructure for SAF/feedstock sales.
Waste Management Firms	Supply of Plastic Waste Feedstock	Q3 2025 operating expenses of approx. $3.8 million reflect integration costs.

Houston American Energy Corp. (HUSA) - Canvas Business Model: Cost Structure

Preliminary, total operating expenses for the third quarter 2025 are expected to be approximately $3.8 million. This represents an increase of $2.7 million compared to the second quarter 2025.

Interest expense is calculated against total debt, which was estimated at approximately $11.0 million to $11.5 million as of September 30, 2025.

The cost structure reflects significant investment in integration following the July 1, 2025 acquisition. General and administrative (G&A) costs are part of the combined organization's operating expenses.

Key cost-related and balance sheet figures as of September 30, 2025, are detailed below:

Cost/Balance Component	Preliminary Amount (USD)
Total Operating Expenses (Q3 2025 Estimate)	Approximately $3.8 million
Total Debt (Estimated)	$11.0 million to $11.5 million
Goodwill (Estimated)	Approximately $13.0 million
Land Asset (Estimated)	Approximately $8.6 million
Cash and Cash Equivalents (Estimated)	Approximately $1.5 million

Capital expenditures are being directed toward physical development initiatives:

• Completion of acquisition of 25-acre site in Cedar Port, Baytown, TX.
• Breaking ground on the AGIG Innovation Hub and R&D Center at Cedar Port.

Costs associated with oil and gas exploration and development are ongoing, with management continually evaluating lease acquisitions and farm-in partnerships to bolster the asset portfolio.

Additional financial activity impacting the cost/funding structure includes:

• A November 2025 registered direct offering generating gross proceeds of $8.0 million before fees.
• Restructuring of senior secured convertible note debt in November 2025.

Houston American Energy Corp. (HUSA) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Houston American Energy Corp. (HUSA) as it pivots hard into renewables while still holding onto legacy assets. The revenue streams are currently a mix of small, existing income and significant capital raises intended to fund the future business.

The most immediate, though small, operating revenue comes from the traditional oil and gas side. This is royalty and working interest income from legacy production, specifically the State Finkle Unit wells in Reeves County, Texas. Houston American Energy Corp. holds a very small 0.0078 working interest in six wells in the Wolfcamp formation, operated by EOG Resources. The company announced receiving its first royalties from these wells in September 2025. Honestly, this income is currently more strategic than material, designed to help fund the transformation.

The actual operating revenue from this legacy business appears minimal based on preliminary data. Preliminary Q3 2025 oil and gas revenue was only $225.7k.

To give you a sense of scale, here's a look at the capital event that is currently overshadowing the operating revenue:

Financial Event	Registered Direct Offering (November 2025)
Gross Proceeds	Approximately $8 million
Price Per Share	$3.50
Shares Issued	2,285,715 shares
Placement Agent	A.G.P./Alliance Global Partners

This $8 million is capital, not operating revenue, but it's crucial because it directly fuels the next set of potential revenue streams. The net proceeds are earmarked to advance the Final Investment Decision (FID) for its first commercial waste-plastics-to-fuels facility, complete Phase 1 of the Cedar Port Renewable Energy Complex in Baytown, Texas, and repay a convertible note balance.

Future revenue is entirely dependent on successfully executing the transition, which is why the capital raise was so important. The company, which announced a planned name change to "Abundia Global Impact Group Inc." on November 25, 2025, is banking on these new ventures:

• Revenue from the sale of low-carbon fuels.
• Revenue from the sale of chemical feedstocks.
• Income from the scaled operations at the Cedar Port Renewable Energy Complex.
• Potential revenue from biomass to liquid fuels and sustainable aviation fuel development, following a binding term sheet executed with BTG Bioliquids B.V.

The entire business model hinges on these future streams replacing the small, legacy oil and gas income. Finance: draft 13-week cash view by Friday.