(RTTNews) -  Houston American Energy Corp. (HUSA: News )reported for the third quarter net income of $429 thousand or $0.02 per share, down from $799 thousand or $0.03 per share in the same period last year.

Quarterly revenues increased to $2.4 million from $2.35 million a year ago.

The company noted that the increase in revenue for the quarter was primarily attributable to increased volumes in the Colombia operations, offset by decreased commodity prices realized in the 2009 quarter as compared to 2008.
Additionally, the Board of Directors approved a dividend of $0.005 per share for shareholders of record as of December 1, 2009 with a payment date of December 17, 2009.

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by RTT Staff Writer

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