HNRC Updates With Letter To Shareholders

Rhea-AI Summary

Houston Natural Resources Corp (HNRC) has updated shareholders with its recent business developments and strategic direction for 2022. The company reported an 81% increase in revenues compared to the previous year, reaching projected earnings of $0.34 per share. HNRC anticipates revenues exceeding $23 million and earnings above $10 million for 2022, targeting acquisitions valued between $10 million and $50 million. The firm aims to realize a significant asset value of $9.67 per share through potential asset sales and dividends.

Positive

• 81% revenue increase year-on-year.
• Projected earnings of $0.50 per share for 2022.
• Targeting acquisitions to enhance portfolio value.

Negative

• None.

HOUSTON, Dec. 21, 2021 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") updated shareholders with a summary of its recent business developments, significant year-to-date achievements, as well as provide some insight into the strategic direction for 2022 and beyond.

Dear Shareholders,
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.  

In the last two years, through the difficulties of COVID, the company acquired Houston Natural Resources, Inc ("HNRI"). HNRI has installed its first Saltwater Disposal Unit and currently installing its second unit to be able to increase its capacity for wastewater treatment. The company is also looking at reworking its existing wells and acquiring producing wells.

The company has had an increase in advisory services that it provides to its portfolio companies.

The company revenues have increased by 81% over the previous year and earnings have doubled for the same period to $0.34c per share with a net asset value of $4.00 per share.

As previously announced, the company is currently projecting revenues for 2021 to be $17m  and $8m in earnings before interest, taxes, depreciation and amortization. This would be an estimated $0.43c per share in earnings for 2021. The company is projecting revenue to exceed $23m in 2022 and $10m in earnings before interest, taxes, depreciation and amortization. The earnings  would be projected to be in excess of $0.50c per share in 2022.

The company expects to achieve this through a combination of internal growth, acquisitions and expansion. In addition, the company expects  to see an increase in advisory services  revenue from its investment portfolio. The company is targeting acquisitions in the $10m to $50m range to increase its portfolio value.

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. 

I am very excited about the tremendous opportunity we have in front of us and am confident we have the team in place to capitalize on it. We thank you for your continued support, and we wish you all Happy Holidays, and cheers to a healthy and prosperous 2022.
Frank Kristan
President

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@hnrc.cloud 
Phone: +1 757-707-4563

View original content:https://www.prnewswire.com/news-releases/hnrc-updates-with-letter-to-shareholders-301449277.html

SOURCE Houston Natural Resources Corp.

FAQ

What is Houston Natural Resources Corp's revenue projection for 2022?

Houston Natural Resources Corp projects revenues exceeding $23 million for 2022.

How much did Houston Natural Resources Corp's earnings increase?

Earnings have doubled for the same period to $0.34 per share.

What are Houston Natural Resources Corp's strategic plans for 2022?

HNRC plans to focus on internal growth, acquisitions, and increasing advisory services revenue.

What is the asset value per share for HNRC's subsidiaries?

The asset value per share for HNRC's subsidiaries is projected to be $9.67.

What acquisitions is Houston Natural Resources Corp targeting?

HNRC is targeting acquisitions valued between $10 million and $50 million.