TX -- June 2, 2021 -- InvestorsHub NewsWire
-- Houston Natural
Resources Corp. (OTC:
HNRC) ("HNR or the Company") confirmed today that
is targeting acquisitions up to $100 million in
acquisitions in the oil and gas sector through its
subsidiary Houston Natural Resources, Inc ('HNRI").
This would add more
than $6 per share to HNRI's
appraised value of $69,000,000 in proven reserves that are
$4.47 per share.
Oil prices have been
rising driven by
expectations that recovering demand with summer travel and
reopening economies will easily accommodate the gradual increase in
Oil prices rose
Tuesday, with Brent topping $71 per barrel, the highest level in
more than two and a half years. "The demand growth is pretty OK,
the OPEC+ discipline is very good, inventories are going
chairman of consultants FGE, said in a Bloomberg television
interview. "If there is no Iranian shadow on the market, prices
could hit $75-$80 by the middle of the third quarter."
HNRI has acquired
approximately 2,800 acres of oil and gas leases located in
in Crockett County, Texas. HNRI is currently
reviewing possible acquisitions of producing oil and gas properties
in addition to operating
treatment facilities operated by its subsidiary HNR Oil Services,
previously announced that it intends to
on the total of
share in assets held by its
subsidiaries for the benefit of
the shareholders. The strategy may include asset sales,
of one or more of
company projects total combined revenues of $23 million and $12
million in earnings for the
December 31, 2021.
per share are
projected to be $0.77c per share. According
500 Integrated Oil
& Gas Index,
would imply a target value for
$6.16 per share and $10.78
diversified holding company that
Houston Natural Resources, Inc ("HNRI")
Diversified Holdings, Inc ("WDHI").
gas properties and a
WDHI has business operations
that provide products & services in the Information Technology
& Healthcare markets. HNRC
major exchange. The company is preparing an SEC filing to become an
Houston Natural Resources Corp
Natural Resources Corp (www.HoustonNaturalResources.com)
The Company is dedicated to increasing shareholder value through
developing natural resources with state-of-the-art innovative
technologies in tandem with sustainable environmental services of
toxic oil field waste disposal and recycling that are
environmentally safe and socially
Diversified Holdings, Inc.(www.wdhinc.net).
The company is a diversified holding company
with business operations and investments. The portfolio companies
include investments in
information technology and healthcare.
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.
Natural Resources Corp.