HNRC Projects Strong Third Quarter Earnings

Rhea-AI Summary

Houston Natural Resources Corp (OTC: HNRC) has reported significant growth in net assets, revenues, and net income for the period ending September 30, 2021. Net assets increased over 100% to $73,446,688, while revenues surged by more than 150% to $7,614,534, and net income rose by over 250% to $4,006,260. The company anticipates third quarter earnings will surpass current projections. Additionally, subsidiary HNRI has appraised proven reserves at $69,000,000.

Positive

• Net assets increased by over 100% to $73,446,688.
• Revenues rose by more than 150% to $7,614,534 in six months.
• Net income increased by over 250% to $4,006,260.

Negative

• None.

HOUSTON, Sept. 14, 2021 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that it expects to report strong results for the quarter ending September  30, 2021.

The company's net assets have increased by more than 100% to $73,446,688 over the last three years. The company's net asset value is $4.76 per share for the period ending June 30, 2021. The company intends to continue to acquire additional assets over the next three years.

The company's revenues have increased by more than 150% to $7,614,534 over the last six months from the previous year and net income increasing by more than 250% to $4,006,260.

The company expects its third 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. The company has taken delivery of new equipment to double capacity in the fourth quarter at the water treatment facility. 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.  .  

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 & services in the Information Technology & 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 (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.
E-mail: frank@HoustonNaturalResources.com  
Phone: +1 757-707-4563
Houston Texas USA

View original content:https://www.prnewswire.com/news-releases/hnrc-projects-strong-third-quarter-earnings-301376531.html

SOURCE Houston Natural Resources Corp.

FAQ

What are the projected earnings for HNRC for Q3 2021?

Houston Natural Resources Corp expects its Q3 2021 earnings to exceed current projections.

What is the net asset value per share for HNRC as of June 30, 2021?

The net asset value per share for HNRC is $4.76.

How much have HNRC's revenues increased compared to last year?

HNRC's revenues have increased by more than 150% to $7,614,534 over the last six months.

What is the total value of proven reserves owned by HNRI?

HNRI has an independently appraised value of $69,000,000 in proven reserves.