HOUSTON, March 28, 2013 /PRNewswire/ -- Houston American Energy Corp (NYSE MKT: HUSA) announced on December 10, 2012 that it was evaluating its future plans and alternatives regarding the CPO 4 block. The Company today announced that it has entered into an Assignment Agreement and a Full and Final Settlement and Mutual Release Agreement (the "Agreements") with SK Innovation relating to Houston American Energy's interest, and ongoing involvement, in the CPO 4 Concession in Colombia.