HNRC PROJECTS STRONG FIRST QUARTER EARNINGS

Rhea-AI Summary

Houston Natural Resources Corp. (OTC: HNRC) announced strong financial projections for Q1 2022, expecting revenue of $5 million and EBITDA of $2.5 million. For the full year, the company anticipates $20 million in revenue and $10 million in EBITDA. Revenue has jumped over 91% year-over-year to $18.2 million, with net income rising 157% to $7.6 million. The company plans to apply for OTCQB listing and is involved in acquiring Cunningham Energy, which is expected to add significant assets. Additionally, a successful NYSE SPAC listing could lead to dividends for shareholders.

Positive

• Projected revenue of $20 million for 2022.
• Projected EBITDA of $10 million for 2022.
• 91% increase in revenue year-over-year to $18.2 million.
• 157% increase in net income to $7.6 million.
• Acquisition of Cunningham Energy expected to boost assets.
• Successful NYSE SPAC listing leading to potential dividends.

Negative

• None.

HOUSTON, April 4, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that it expects to report strong results for the first quarter ending March 31, 2022. 

The company is projecting $20 million in revenue and $10m in EBITDA for the year ending December 31,2022 with the first quarter projected to be $5 million in revenue and $2.5m in EBITDA. The company has historically been increasing revenues over the last three years. This is been due to increase in revenues from its portfolio companies and acquisitions.

The company's revenues have increased by more than 91% to $18,217.737 over the last year from the previous year and net income increasing by more than 157% to $7,636,830.

The company's net assets have increased 2% to $74,251,027 over the last year. The company's net asset value is $3.46 per share for the period ending December 31, 2021. The company recently announced a letter of intent to acquire Cunningham Energy, which would result in a significant increase in the company's assets for the year ending December 31,2022.

The company is planning on applying for listing on the OTCQB in the second quarter. It has engaged auditors Sadler Gibbs and the first year of Worldwide Diversified Holdings, Inc has been completed and they are working on the second year. The listing requirements include two-year audited statements.

The company sponsored a successful $86 million NYSE listing of an energy focused special purpose acquisition corporation during the first quarter of 2022. This will result in a dividend to its shareholders after the lock up period has expired.

The company is evaluating sponsoring other energy focused special purpose acquisition corporation and expects a second energy focused special purpose to be completed in the second quarter. This would also result in an additional dividend to the shareholders.

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.

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: (757) 707-4563

View original content:https://www.prnewswire.com/news-releases/hnrc-projects-strong-first-quarter-earnings-301516871.html

SOURCE Houston Natural Resources Corp.

FAQ

What are Houston Natural Resources Corp's revenue projections for 2022?

Houston Natural Resources Corp expects $20 million in revenue for the year 2022.

What is the EBITDA projection for HNRC in 2022?

The company projects an EBITDA of $10 million for the year ending December 31, 2022.

How much revenue did HNRC generate in the first quarter of 2022?

HNRC anticipates generating $5 million in revenue for the first quarter of 2022.

What significant acquisition is Houston Natural Resources planning?

The company has announced a letter of intent to acquire Cunningham Energy, which may significantly increase its assets.

When does HNRC plan to apply for an OTCQB listing?

Houston Natural Resources Corp plans to apply for an OTCQB listing in the second quarter of 2022.