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Jan 4 (Reuters) - Houston American Energy Corp :
* Houston American Energy announces participation agreement with Founders Oil & Gas to acquire interest in Permian Basin assets
* Purchase price for interest is $5,500 per net mineral acre, or a total of $1.1 million.
* Houston American Energy - will acquire 25% working interest in two lease blocks covering approximately 800 acres in Reeves County, Texas Source text for Eikon: Further company coverage: