HNRC ACQUIRES 100% INTEREST IN CUNNINGHAM ENERGY LLC
- Houston Natural Resources Corp (HNRC) has completed the acquisition of a 100% interest in Cunningham Energy, LLC, increasing HNRC's net asset value (NAV) by $3.35 per share. The acquisition increases the company's appraised asset value by $3.35 per share.
- None.
Increasing HNRC's Net Asset Value
The Company previously announced the completion of the acquisition of a
The Company intends to change its name from Houston Natural Resources Corp to Cunningham Natural Resources Corp ("CNRC") and CNRC 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.
Cunningham Energy has engaged auditors to complete its prior two years of audited statements for a listing on the NASDAQ or NYSE in 2023 with an underwriting commitment of
An independent engineering firm completed an updated evaluation of the oil & gas assets of Cunningham Energy. The updated independently appraised value of the CE's leasehold position, as of December 31st, 2022, is
Cunningham Energy is an independent producer of oil and gas. Cunningham Energy conducts operations and oil/gas interests in the Appalachian Basin with over 30,000 net acres of leasehold. Cunningham Energy was formed in 2008 and was a pioneer of shallow horizontal oil drilling in
Cunningham Energy of Canada Inc. controls an interest in more than 965,000 acres in the Matapedia Valley, Gaspesie,
Cunningham Oilfield Services (COS), a division of Cunningham Energy, provides a variety of oilfield services and equipment within the Appalachian Basin. From drilling and support of horizontal and vertical wells to general well service, rigs, and equipment. The recent US Government Bipartisan Infrastructure Deal includes a
Cunningham Energy will enter into a separate agreement/and or joint ventures with Viper Capital Partners LLC on a deal-by-deal basis for further development of acreage, minerals, and drilling projects in the lower 48 states, including West
About Houston Natural Resources Corp
Houston Natural Resources Corp. (OTCMKTS: HNRC) (www.hnrcholdings.com) is a diversified energy company with oil and gas interests. The Company has recently acquired a
About Cunningham Energy LLC
Cunningham Energy (www.cunninghamenergy.com) is an independent producer of oil and gas based in
About Viper Capital Partners LLC
Viper Capital Partners LLC (www.vipercapitalpartners.com) was formed to facilitate capital formation for the oil and gas industry in the areas of drilling & production, leasing, as well as mineral acquisition. The company is based in
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
Phone: (713) 425-4901
E-mail: frank@hnrcholdings.com
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SOURCE Houston Natural Resources Corp
FAQ
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