HNRC Projects Strong Second Quarter Earnings

Rhea-AI Summary

Houston Natural Resources Corp. (OTC: HNRC) announced strong financial expectations for Q2 2021, projecting earnings to exceed current forecasts. The company reported a net asset increase of over 110% to $72,616,087 and a net asset value of $4.71 per share as of March 31, 2021. Revenues surged over 200% to $9,523,634, with net income rising more than 300% to $2,973,320. HNRC's subsidiary has appraised proven reserves at $69 million, while additional assets are valued at $7.6 million. The company plans to focus on maximizing shareholder value through potential asset sales and dividends.

Positive

• Net assets increased by over 110% to $72,616,087.
• Revenues increased by over 200% to $9,523,634.
• Net income increased by more than 300% to $2,973,320.
• Proven reserves appraised at $69 million.

Negative

• None.

HOUSTON, July 19, 2021 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR" or "the Company") announced today that it expects strong results for the quarter ending June 30, 2021.

The company's net assets have increased by more than 110% to $72,616,087 over the last three years. The company's net asset value is $4.71 per share for the period ending March 31, 2021. The company intends to continue to acquire additional assets over the next three years.

The company's revenues have increased by more than 200% to $9,523,634 over the last three years with net income increasing by more than 300% to $2,973,320.

The company expects its second quarter earnings to exceed current projections.

In addition, the Company's subsidiary Houston Natural Resources, Inc ("HNRI") has independently appraised value of $69,000,000 in proven reserves that are valued at $4.47 per share.

HNRI has acquired approximately 2,800 acres of oil and gas leases located in the Halff Oil Field in Crockett County, Texas. HNRI is currently reviewing possible acquisitions of producing oil and gas properties in addition to operating its water treatment facilities operated by its subsidiary HNR Oil Services, LLC.

HNR Oil Services LLC, has independently appraised value of $7,600,000 in equipment and permits that are valued a $0.49 per share.

The Company intends to focus on realizing the value on the total of $9.67 per share in assets held by its subsidiaries for the benefit of the shareholders. The strategy may include asset sales, a spin-off of one or more of its subsidiaries and dividends to shareholders. 

The Company intends to focus on realizing the value on the total of $9.67 per share in assets held by its subsidiaries for the benefit of the shareholders. The strategy may include asset sales, a spin off of one or more of its subsidiaries and dividends to shareholders.

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 and services in the Information Technology and Healthcare markets. HNRC anticipates up listing onto OTCQX or major exchange. The company is preparing an SEC filing to become an SEC reporting company.

About Houston Natural Resources Corp

Houston Natural Resources Corp (www.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. 
frank@houstonnaturalresources.com
+1-757-707-4563
Houston, Texas, USA

View original content:https://www.prnewswire.com/news-releases/hnrc-projects-strong-second-quarter-earnings-301336403.html

SOURCE Houston Natural Resources Corp.

FAQ

What are the expected earnings for HNRC in Q2 2021?

Houston Natural Resources Corp. anticipates that Q2 2021 earnings will exceed current projections.

What is the current net asset value per share for HNRC?

The net asset value for Houston Natural Resources Corp. is $4.71 per share as of March 31, 2021.

How much have HNRC's revenues increased over the last three years?

HNRC's revenues have increased by over 200% to $9,523,634 over the last three years.

What significant assets does HNRC hold?

HNRC holds approximately $9.67 per share in total assets, including $69 million in proven reserves and $7.6 million in equipment.