HNRC UPDATES ON 18 MONTHS OF ACCOMPLISHMENTS

Rhea-AI Summary

Houston Natural Resources Corp. (OTC: HNRC) has reported significant achievements over the past 18 months. The company completed the acquisition of Houston Natural Resources, Inc. in September 2020, appraising its assets at over $60 million, including 2,000 acres and 83 wells. HNR Oil Services, LLC has opened a wastewater treatment facility processing more than 150,000 barrels monthly, generating additional oil revenue. The company anticipates record earnings and a stable debt-to-equity ratio below 2%. HNRC aims to enhance shareholder value through new acquisitions and sustainable technology.

Positive

• Assets appraised at over $60 million including 2,000 acres and 83 wells.
• Opened a wastewater treatment facility processing over 150,000 barrels per month.
• Anticipates record earnings to continue in 2022.
• Maintains a debt-to-equity ratio of less than 2%.
• Plans to finance future acquisitions with $50 million to $150 million capital.

Negative

• None.

HOUSTON, Feb. 7, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") updated its significant accomplishments in the last 18 months.  

The company acquired Houston Natural Resources, Inc ("HNRI") in March 2020. Subsequently its named changed to Houston Natural Resources Corp under a new symbol HNRC in June 2020 and the acquisition was completed in September 2020.

HNRI assets have been independently appraised at more than $60 million including the lease on more than 2,000 acres with 83 wells. The company is working on obtaining financing to rework the wells to begin production in 2022.

HNRI subsidiary HNR Oil Services, LLC has opened its initial facility for wastewater treatment that is processing more than 150,000 barrels per month. The company also separates oil in the process and receives additional income from the sale of the oil. The company has acquired additional equipment to enable an increase in processing wastewater. The company obtained third party appraisals for the equipment and for oil and gas reserves for more than $7 million. The additional equipment has doubled the capacity.

The company is looking at acquiring additional wastewater treatment facilities and technologies to improve the provide for a nationwide network for wastewater treatment. The focus is also to acquire and manage mature natural gas and oil properties to generate cash flows and provide stability and growth for the long-term benefit of our stakeholders.

The company has reported record earnings in the last year and expects that to continue in 2022 in addition to maintaining less than a 2% Debt to Equity ratio. HNRC has been featured in a number of third-party research publications.

The company intends to finance future acquisitions through traditional financing sources and through the sponsoring of special purpose acquisition corporations focused on energy and energy transition projects with capital of between $50 million and $150 million.

Our company is focused on creating a diversified holding company for its business operations and investment holdings. It is dedicated to increasing stockholder value through developing natural resources with state-of-the-art innovative technologies in tandem with water recycling that are environmentally safe and socially responsible.  The company is focused on using a public trading vehicle, to acquire ownership positions in middle market companies over the next three years.  

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@hosutonnaturalresources.com  
Phone: +1 757-707-4563

View original content:https://www.prnewswire.com/news-releases/hnrc-updates-on-18-months-of-accomplishments-301476652.html

SOURCE Houston Natural Resources Corp.

FAQ

What are Houston Natural Resources Corp's key achievements reported on Feb. 7, 2022?

Houston Natural Resources Corp. reported significant achievements including the acquisition of HNRI, assets valued over $60 million, and opening a wastewater treatment facility processing over 150,000 barrels per month.

What is the debt-to-equity ratio of Houston Natural Resources Corp. as of 2022?

Houston Natural Resources Corp. maintains a debt-to-equity ratio of less than 2%.

How much capital is Houston Natural Resources Corp. looking to acquire for future investments?

The company is looking to finance future acquisitions through $50 million to $150 million in capital.

What are the financial expectations for Houston Natural Resources Corp. in 2022?

The company expects to maintain record earnings in 2022.