HOUSTON NATURAL RESOURCES CORP UPDATES SHAREHOLDERS
- HNRC has appraised asset values of $2.90 per share
- HNRC expects to exceed its annual revenue projection of over $20 million in 2023
- HNRC achieved a total value of $0.15 per share in current energy assets held by its subsidiaries
- HNRC engaged an underwriter for a $10 million commitment for an up listing to a major exchange in 2023
- None.
Appraised asset values of
The company has appraised asset values of
- Completed an asset spinoff dividend to shareholders of Worldwide Diversified Holdings, Inc. ("WDHI") a majority owned subsidiary of HNRC and filed with the SEC for registration for the shares to be traded in the fourth quarter.
- Completed the acquisition of a
100% interest in Cunningham Energy, LLC. An independent engineering company has completed an evaluation of the Oil & Gas Assets of Cunningham Energy. The appraised value of the Cunningham Energy, LLC leaseholds as of December 31st, 2022, is assuming a 68 well drilling program.$352 million dollars - Completed an acquisition of a
9% interest in the Placer Claims known as the 'Nugget Trap Placer Mine" in the British Columbia Mineral Title registry covering 573.7 acres and the accompanying permits and authorizations that is situated within the Skeena Mining Division ofBritish Columbia, Canada in the area known as BC`s Golden Triangle. The initial permit is for reserves valued in excess of .$500 million - Completed an acquisition of a
40% interest in Rhino Energy Pty Ltd that has an investment in a junior energy company currently focused on the development of its interests in theCold Lake andWabasca areas ofAlberta Canada . The interests have a reserve report for total proved, probable and possible 15,469,000 bbls @ a weighted average of for the year 2022 and a value of$84.05 .$1.3Billion - The company has realized the value on a total of
per share in current energy assets held by its subsidiaries with the potential for a$0.15 10% per share future dividend. - HNRC expects that they will exceed their annual projections for 2023 of over
in revenue and$20 million in earnings.$12 million - The company has engaged an underwriter for a
commitment for an up listing to a major exchange in 2023.$10 million dollar - The company is evaluating additional acquisitions in the energy and energy services industry to provide value for shareholders.
About Houston Natural Resources Corp
Houston Natural Resources Corp. (OTC: HNRC) (www.hnrcholdings.com) is a diversified energy company with oil and gas interests. The Company has recently acquired a
About Cunningham Natural Resources Corp
Cunningham Natural Resources Corp (www.cunninghamnaturalresources.com) will be focused on traditional oil and gas opportunities and energy transition materials including mining opportunities in copper, lithium, gold, as well as other precious and rare earth metals. The investment focus will be global with sustainability at the core of the strategy.
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.
12 Greenway Plaza, Suite 1100
Phone: (713) 425-4901
E-mail: frank@hnrcholdings.com
Website: www.hnrcholdings.com
Twitter: https://twitter.com/CunninghamCorp
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SOURCE Houston Natural Resources Corp