HOUSTON NATURAL RESOURCES CORP UPDATES SHAREHOLDERS
October 05 2023 - 7:14AM
InvestorsHub NewsWire
HOUSTON NATURAL RESOURCES CORP
UPDATES SHAREHOLDERS
Appraised asset values of $2.60 per
share - 2023 proforma earnings of $0.08 per share
HOUSTON TX
-- October 5, 2023 -- InvestorsHub NewsWire
-- Houston Natural Resources Corp.
(OTC:
HNRC) Houston
Natural Resources Corp. (OTC:
HNRC) ("HNRC or the Company") updated shareholders with a
summary of its recent business developments, significant
achievements, as well as provide some insight into the strategic
direction for 2023 and beyond. The company has filed for a name
change to Cunningham Natural Resources Corp, a symbol and CUSIP
change.
The company has
appraised asset values of
$2.90 per share,
with the 2023
proforma earnings of $0.08 per share. Our company is dedicated to increasing
stockholder value and has completed the following achievements in
2023:
-
Completed an asset spinoff dividend to shareholders of Worldwide
Diversified Holdings, Inc. ("WDHI") a majority owned subsidiary of
HNRC and filed with the SEC for registration for the shares to be
traded in the fourth quarter.
-
Completed the acquisition of a 100% interest in Cunningham Energy,
LLC. An independent engineering company has completed an evaluation
of the Oil & Gas Assets of Cunningham Energy. The appraised
value of the Cunningham Energy, LLC leaseholds as
of December
31st,
2022, is $352
million dollars assuming a 68 well drilling program.
-
Completed an acquisition of a 9% interest in the Placer Claims
known as the 'Nugget Trap Placer Mine" in the British Columbia
Mineral Title registry covering 573.7 acres and the accompanying
permits and authorizations that is situated within the Skeena
Mining Division of British Columbia, Canada in the area known as
BC`s Golden Triangle. The initial permit is for reserves valued in
excess of $500 million.
-
Completed an acquisition of a 40% interest in Rhino Energy Pty Ltd
that has an investment in a junior energy company currently focused
on the development of its interests in the Cold Lake and Wabasca
areas of Alberta Canada. The interests have a reserve report for
total proved, probable and possible 15,469,000 bbls @ a weighted
average of $84.05 for the year 2022 and a value of
$1.3Billion.
-
The company has realized the value on a total of $0.15 per share in
current energy assets held by its subsidiaries with the potential
for a 10% per share future dividend.
-
HNRC expects that they will exceed their annual projections for
2023 of over $20 million in revenue and $12 million in
earnings.
-
The company has engaged an underwriter for a $10
million dollar commitment
for an up listing to a major exchange in 2023.
-
The company is evaluating additional acquisitions in the energy and
energy services industry to provide value for
shareholders.
About Houston Natural Resources
Corp
Houston Natural Resources Corp.
(OTC:
HNRC) (www.hnrcholdings.com) is
a diversified energy company with oil and gas interests. The
Company has recently acquired a 100% interest in Cunningham Energy
LLC, with appraised reserves of $352 million. The Company also has
minority investments in Rhino Energy Ltd, CE Energy Sponsors, LLC
and HNR Acquisition Corp. The
Company will also continue to seek new energy and energy
transitions opportunities as it focuses on creating more value for
shareholders.
About Cunningham Natural
Resources Corp
Cunningham Natural Resources Corp (www.cunninghamnaturalresources.com)
will be focused on traditional oil and gas opportunities and energy
transition materials including mining opportunities in copper,
lithium, gold, as well as other precious and rare earth metals. The
investment focus will be global with sustainability at the core of
the strategy.
FORWARD-LOOKING
STATEMENTS:
This press release may contain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements other than statements of historical facts included
in this press release may constitute forward-looking statements and
are not guarantees of future performance or results and involve a
number of risks and uncertainties.
Contact:
Houston Natural Resources Corp
12 Greenway Plaza, Suite 1100
Houston, Texas 77046
Phone: (713) 425-4901
E-mail: frank@hnrcholdings.com
Twitter: https://twitter.com/CunninghamCorp
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