HNRC ENGAGES INTERCAPITAL ENERGY

Rhea-AI Summary

Houston Natural Resources Corp. (OTC: HNRC) has engaged InterCapital Energy LLC for financing its oil and gas projects. With 30 years of industry experience, InterCapital targets growth opportunities in production and reserves, having managed projects worth up to $1 billion. HNRC is negotiating joint venture agreements for capital development in Texas, aiming for operational status within 60 days. InterCapital will also facilitate future acquisitions. This partnership may enhance HNRC's market position but comes with inherent financing risks.

Positive

• Engagement with InterCapital Energy for financing projects.
• InterCapital's extensive experience in managing large-scale oil and gas projects.
• Expected operational status within 60 days for ongoing negotiations in Texas.

Negative

• None.

HNRC ENGAGES INTERCAPITAL ENERGY

HOUSTON, May 16, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that InterCapital Energy LLC ("InterCapital") has been retained to provide financing on the company's projects. 

InterCapital has thirty years of experience in the oil and gas industry and has selected a number of assets with growth opportunities in production and reserves. They have a multidisciplinary team of experts working as one for generating integrated solutions with high value. They have been partners in projects of up to $250 million and have experience managing lump sum turn key projects of more than $1 Billion.

The company is currently negotiating joint venture agreements with InterCapital  to provide capital for the development of its oil and gas fields in Texas. They expected to be operational in the next sixty days. InterCapital will also provide joint venture opportunities to fund the company's future acquisitions.  

About Houston Natural Resources Corp

Houston Natural Resources Corp (www.hnrcholdings.com) (OTC:HNRC). The company is a diversified holding company with business operations and investments. The portfolio companies include investments in energy, information technology and healthcare.

About InterCapital Energy LLC

InterCapital Energy LLC (www.intercapitalenergy.com) is a creative private equity boutique firm that specializes in funding oil and gas U.S. projects. Their main objective is to provide funding to small and medium size operator, that are looking to expand production or to acquire producing assets in the oil and gas space in the United States.

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@hnrcholdings.com  
Houston Texas USA.
Phone: +1 (757) 707 4563

View original content:https://www.prnewswire.com/news-releases/hnrc-engages-intercapital-energy-301548069.html

SOURCE Houston Natural Resources Corp.

FAQ

What is the significance of HNRC engaging InterCapital Energy?

HNRC's engagement with InterCapital Energy is significant as it enables financing for its oil and gas projects, potentially boosting its operational capacity.

When is HNRC expected to start operations in Texas?

HNRC is expected to be operational in Texas within the next 60 days as per their negotiations with InterCapital Energy.

What type of projects will InterCapital Energy fund for HNRC?

InterCapital Energy will fund HNRC's oil and gas projects and facilitate joint venture opportunities for future acquisitions.

What experience does InterCapital Energy bring to HNRC?

InterCapital Energy brings 30 years of oil and gas industry experience, managing projects worth up to $1 billion.

What is HNRC's stock symbol?

HNRC's stock symbol is OTC: HNRC.