HNRC Outlines Key Highlights Presentation for 2024
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Cunningham Natural Resources Corp ("CNRC") is 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. This investment focus will be global with sustainability at the core of the strategy.
Traditional Energy
- CNRC owns
100% of Cunningham Energy LLC. Cunningham Energy was founded in 2008 for the purpose of acquiring, exploring, and producing oil and gas in the Appalachian,Illinois , and Williston Basins. Cunningham Energy and its affiliates own interests in approximately 600 wells, 170 of which are re-works with a98% successful completion rate. The company acquired 30,000 net acres in numerous transactions throughout the Appalachian Basin Acreage acquisition was completed over a 10-year time frame. They acquired and negotiated control of 965,000 net acres inCanada and negotiated a75% Net Revenue Interest basis with estimated reserves of more than 500M barrels of oil. An independent engineering firm completed an updated evaluation of the oil & gas assets and leases of Cunningham Energy as of December 31st, 2022, is , assuming a sixty-eight (68) well drilling program is completed (www.cunninghamenergy.com).$352 million dollars - CNRC has invested in HNR Acquisition Corp ("HNRA"). On February 11, 2022, HNRA closed its IPO on the NYSE for
. HNRA completed a business combination on November 15, 2023 by purchasing all the equity interests in Pogo Resources, LLC and its subsidiary, LH Operating, LLC (collectively "LHO"). HNRA is now an independent oil and natural gas company focused on the acquisition, development, exploration and production of oil and gas properties in the Permian Basin. The Company's assets include its interest in the Grayburg-Jackson oil field in the prolific Permian Basin in$86,250,000 New Mexico . LHO had in revenues generating positive cash flow and$20.3 million of net income for the nine months ended September 30, 2023. As of September 30, 2023, total assets of LHO were$3.9 million (www.hnra-nyse.com)$70.4 million - CNRC has acquired a
40% interest in Rhino Energy Pty Ltd ("Rhino"). Rhino has a management team with global operational expertise having operated & non operated assets in 27 countries. The team has managed production of +1.7 million boepd. Rhino has assembled a truly world class team that has been involved in some of the most historic oil & gas projects globally over the last 30 years. Rhino is focused on building a material production base through acquisitions in countries and basins that we have a strong track record. Rhino has an initial investment in a Canadian junior energy company currently focused on the development of its interests in theCold Lake andWabasca areas ofAlberta inCanada . (www.rhinoenergy.com.au)
Energy Transition
- CNRC has a
9% interest in Cunningham Mining Ltd ("CML"). CML has completed the acquisition of 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 ("Property") that is situated within the Skeena Mining Division ofBritish Columbia, Canada in the area known as BC's Golden Triangle. A recent independent assay, which includes data from a 25-pit test program, indicated an average of over Au 25.54 grams gold per cubic meter of pay dirt as well as meaningful amounts of silver. CML is in the process of permitting for a 15,000 cubic yard per annum pay dirt mining program with the British Columbia Ministry of Mines. CML is developing a unique gold backed token that would provide capital for mining the property (www.cunninghammining.com). - CNRC is acquiring a
10% interest in Kharrouba Copper Company, Inc ("KCC" or "Company") with the potential to increase its position over time. Based on the investment being made by HNRC, KCC would have an enterprise value of aboutUS . KCC is a Canadian Company, with growing copper mining and processing operations in the Kingdom of$60 million dollarsMorocco . KCC commenced operations in 2017 and is currently in the expansion of its operations. Over the next 12-15 months, it plans a further expansion and an extensive drilling campaign to expand its reserve and resource base. KCC has also encountered cobalt in a number of its mines and plans to add cobalt exploration as part of its overall exploration program. KCC has a significant land position totaling some 78,826 acres all offering excellent potential for increasing KCC's reserve base substantially. KCC's operations are low cost and expect to generate healthy positive cash flows. Upon completion of the drilling program and updated resource estimate, US$21M + of projected annual free cash flow. Copper prices are set to soar more than75% over the next two years amid mining supply disruptions and higher demand for the metal, fueled by the push for renewable energy. Rising demand driven by the green energy transition and a likely decline in theU.S. dollar in the second half of 2024 will push copper prices higher, according to a report by BMI, a Fitch Solutions research unit.
Proforma
Dec. 31, 2023 | Dec. 31, 2024 | Dec. 31, 2025 | ||
Total Revenue | 21,117,266 | 35,294,712 | 37,873,553 | |
Total Expenses | 9,416,259 | 18,561,583 | 19,650,431 | |
Income from Operations | 11,701,007 | 16,733,129 | 18,223,122 | |
Total General & Administrative | 209,709 | 2,465,995 | 2,094,912 | |
EBITDA | 11,491,298 | 14,267,134 | 16,128,210 | |
Assumptions
Average $/BB
Average $/mcf
Average $/Cu pound
Initial Mining Program
Initial Drilling program
About Houston Natural Resources Corp
Houston Natural Resources Corp. (OTC: HNRC) (https://hnrcholdings.gcs-web.com) stands as a versatile energy enterprise with stakes in both oil and gas. Notably, the company has successfully obtained full ownership, a
About Cunningham Natural Resources Corp
Cunningham Natural Resources Corp (www.cunninghamnaturalresources.com) is dedicated to pursuing both conventional oil and gas prospects and opportunities in energy transition materials. This encompasses mining ventures in copper, lithium, gold, as well as other valuable and rare earth metals. With a global perspective, the investment strategy is underpinned by a commitment to sustainability, making it an integral element of the company's core approach.
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.
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SOURCE Houston Natural Resources Corp
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