HOUSTON, June 28 /PRNewswire-FirstCall/ -- Houston American Energy Corp. (Nasdaq: HUSA), today announced it has been added to the Russell 3000® Index after the Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indexes on June 25, 2010.
Annual reconstitution of Russell's U.S. indexes captures the largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000®, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index. Of those two indexes, Houston American Energy is included in the Russell 2000® Index based on its market capitalization.
"We are very pleased to be a member of the Russell 3000® Index this year. We expect that being a part of the index will increase our exposure to the investment community and to potential new investors," said John F. Terwilliger the Company's Chief Executive Officer.
Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
Real-time market analysis on the Russell 3000 and other Russell Indexes is available at http://www.russell.com/Indexes/performance/real_time_market_analysis.asp. The Company will hold its membership until Russell reconstitutes its indexes in June 2011.
About Russell Investment Group
Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Headquartered in Tacoma, Wash., Russell has principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Seoul, Singapore, Sydney, Tokyo and Toronto. Russell's indexes are unmanaged and cannot be invested in directly.
For more information on Russell indexes, go to www.russell.com.
About Houston American Energy Corp.
Based in Houston, Texas, Houston American Energy Corp. is an independent energy company with interests in oil and natural gas wells and prospects. The Company's business strategy includes a property mix of producing and non-producing assets with a focus on Texas, Louisiana and Colombia. Additional information can be accessed by reviewing our Form 10-K and other periodic reports filed with the Securities and Exchange Commission.
For additional information, view the company's website at http://www.houstonamericanenergy.com or contact the Houston American Energy Corp. at (713) 222-6966.
SOURCE Houston American Energy Corp.