Houston, we have a problem..

We proposed this as a short at $20 in 2010, it has gone down all the way to, well, next to nothing.

We think that most if not all possible positive news is already priced into Houston American Energy’s (HUSA) share price. This is a short candidate…

1) Introduction
While its share price has exploded, we wonder whether it is setting itself up for a major disappointment. The stock price has basically increased ten-fold over the last year. The main driver seems to be the promise of their newly acquired Columbian properties (and due to recent liberalization, Columbia is indeed a hot new oil exploration prospect). Adjacent to one of these (the CPO-4 block), two wells (Candililla 1&2) produced rather great results, and the stock price subsequently began to take off. However, we think the shares are priced for perfection and anything less could trigger a substantial sell-off.

Read on here:
Houston American Energy Priced for Perfection – Seeking Alpha

Now look what happened: