HNRC 90 Day Plan For Rapid Growth, Expansion And Acquisitions

Rhea-AI Summary

Houston Natural Resources Corp. (OTC: HNRC) has announced an ambitious 90-day plan aimed at increasing revenue and assets through strategic acquisitions and operational expansions. Key initiatives include boosting processing volume at its water treatment facility, reworking 83 existing wells, and preparing for an up-listing onto a major exchange. The company reported a significant net earnings increase of 186% to $4.1 million for the six months ending June 30, 2021, and an increase in net assets to $73.5 million. HNRC's long-term strategy emphasizes environmental sustainability alongside growth.

Positive

• 186% increase in net earnings to $4.1 million for the first half of 2021.
• Increase in net assets to $73.5 million as of June 30, 2021.
• Plans to expand water treatment facility capacity and operations.
• Acquisition of 2,800 acres in Crockett County, Texas, with proven reserves valued at $69 million.
• Potential up-listing onto a major exchange alongside SEC filing preparations.

Negative

• None.

HOUSTON, Aug. 19, 2021 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") outlined today its plans over the next ninety days for its subsidiary Houston Natural Resources, Inc. 

• Announce a target acquisition to increase revenue and assets.
• Increase the volume at its water treatment facility, operated by its subsidiary HNR Oil Services LLC, from the more than 1,000 truckloads per month currently being processed.
• Complete the installation of the recently purchased equipment for a second facility to increase capacity and begin processing additional wastewater.
• Engage a working partner to re-work the company's 83 wells to start generating additional revenue from producing wells.
• Initiate listing onto a major exchange

The company recently reported net earnings have increased 186% to $4,105,594 on revenues of $7,614,534 for the six-month period ending June 30, 2021 from $1,496,869 net profits on revenues of $4,534,495 revenues for the same period ending June 30, 2020. The company reported $0.26c per share in earnings for the first six months of 2021.

The company's net assets have increased to $73,466,688 for the period ending June 30, 2021 as compared to $72,315,383 for the same period ending June 30, 2020.

The company's net asset value is $4.76 per share for the period ending June 30, 2021.

HNRC is a diversified holding company that has two subsidiaries, Houston Natural Resources, Inc ("HNRI") and Worldwide Diversified Holdings, Inc ("WDHI"). HNRI owns oil and gas properties and a waste-water treatment plant. WDHI has business operations that provide products & services in the Information Technology & Healthcare markets. HNRC anticipates up listing onto OTCQX or major exchange. The company is preparing an SEC filing to become an SEC reporting company.

HNRI has acquired approximately 2,800 acres of oil and gas leases located in the Halff Oil Field in Crockett County, Texas with proven and appraised reserves of $69 million and 83 oil wells to be reworked. HNRI has completed two years of its audited statements and detailed independent appraisals of the assets. HNRI is evaluating raising capital through a Regulation A filing or S-1 Registration that will provide for a separate listing on a major exchange. HNRI is currently reviewing possible acquisitions of producing oil and gas properties in addition to developing its water treatment facilities that are operated by its subsidiary HNR Oil Services, LLC.

The facility is currently permitted for disposal of twenty-five thousand barrels per day of oil field toxic waste fluids and is permitted and will soon expand to sterilizing oil field toxic solids waste. These unique permits have allowed HNR Oil Services to issue its customers a Texas State Certificate of Destruction of such toxic waste. This is an especially important step in environmental protection by keeping toxic materials out of land fields.

HNR Oil Services anticipates a rapid expansion with four additional processing facilities across all suitable oil and gas producing regions, increasing to seven facilities in the next five years.

About Houston Natural Resources Corp

Houston Natural Resources Corp (https://houstonnaturalresources.com) (OTC:HNRC). 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 responsible. 

About Worldwide Diversified Holdings, Inc.

Worldwide 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.

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.
E-mail: frank@HoustonNaturalResources.com 
757-707-4563  
Houston Texas USA.

View original content:https://www.prnewswire.com/news-releases/hnrc-90-day-plan-for-rapid-growth-expansion-and-acquisitions-301359162.html

SOURCE Houston Natural Resources Corp.

FAQ

What is Houston Natural Resources Corp's plan for growth?

Houston Natural Resources Corp (OTC: HNRC) plans to increase revenue and assets through acquisitions, operational expansions, and an up-listing onto a major exchange within 90 days.

What were HNRC's financial results for the first half of 2021?

HNRC reported a 186% increase in net earnings, reaching $4.1 million, with revenues of $7.6 million for the six-month period ending June 30, 2021.

What key assets has HNRC acquired recently?

HNRC acquired approximately 2,800 acres of oil and gas leases in Crockett County, Texas, with proven reserves appraised at $69 million.

What is the expected impact of HNRC's expansion plans?

The expansion plans are expected to increase operational capacity, generate additional revenue from existing wells, and strengthen HNRC's market position.