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Houston Natural Resources Corp (OTC: HNRC) is a versatile energy enterprise with stakes in oil, gas, and mining opportunities. The company holds full ownership in Cunningham Energy LLC and minority investments in Rhino Energy Ltd, CE Energy Sponsors, LLC, and HNR Acquisition Corp. Committed to growth and innovation, HNRC aims to deliver enhanced value to its shareholders.
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Houston Natural Resources Corp (OTC: HNRC) has completed the acquisition of Pogo Resources, LLC and its subsidiary, LH Operating, LLC, becoming an independent oil and natural gas company focused on the Permian Basin. The company's assets include the Grayburg-Jackson oil field, with production increasing from 500 BOE per day to 1,388 BOE per day for the nine months ended September 30, 2023. LHO had $20.3 million in revenues, generating positive cash flow and $3.9 million of net income for the same period. The company anticipates declaring a dividend of its HNRA position in 2024, subject to existing lock-up agreements and regulatory reviews being completed.
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Houston Natural Resources Corp. (OTC: HNRC) reported robust Q3 2023 results, with total revenue reaching $15,241,815, a 5% increase from the previous year. Earnings for nine months amounted to $8,871,912, showing a 9% growth, and earnings per share (EPS) rose to $0.06 from $0.05, marking a 20% increase. The company also achieved a net asset value (NAV) of $0.62 per share. Key milestones include the acquisition of Cunningham Energy, LLC, corporate changes, mining interest acquisition, and the spin-off of Worldwide Diversified Holdings, Inc. Financially, the company continues to receive advisory fees and is actively evaluating potential acquisitions in the energy and energy services industry.
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Houston Natural Resources Corp (OTC: HNRC) has been invited to present at the Emerging Growth Conference on November 1, 2023. The live, interactive online event will allow shareholders and the investment community to interact with the CEO in real time. The presentation will take place at 10:50 AM Eastern time for 30 minutes.
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Houston Natural Resources Corp. (HNRC) has appraised asset values of $2.90 per share and expects to exceed its annual revenue projection of over $20 million in 2023. The company completed several acquisitions and achieved a total value of $0.15 per share in current energy assets held by its subsidiaries. HNRC also engaged an underwriter for a $10 million commitment for an up listing to a major exchange in 2023. They are evaluating additional acquisitions in the energy and energy services industry.
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Houston Natural Resources Corp. CEO discusses Energy Transition Acquisitions, Dividends, EPS Increase, and Uplisting
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Houston Natural Resources Corp completes sale of subsidiary assets at $18 million enterprise value and $0.15c per share. Company focuses on traditional oil and gas opportunities and energy transition materials. Signed $10 million underwriting commitment for acquisitions and anticipates uplisting in Q4.
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CNRC acquires interest in Cunningham Mining Ltd
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Cunningham Natural Resources Corp announced that its portfolio company HNR Acquisition Corp signed an Amended and Restated Membership Interest Purchase Agreement to purchase all equity interests of a New Mexico based oil company and its subsidiaries. The purchase price is $63 million in cash plus two million shares of Class B Common Stock and two million units in HNRA Upstream, LLC. HNRA has also signed a commitment letter with First International Bank & Trust for a $28 million senior secured term loan. The completion of the business combination is expected to provide a liquidity event for HNRC shareholders within 180 days of closing.
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Houston Natural Resources Corp. (OTC: HNRC) reported significant growth in revenues, earnings, and EPS for the second quarter ending June 30, 2023. Total revenue for six months increased by 8% to $9,366,365, total earnings increased by 14% to $6,290,602, and earnings per share (EPS) increased by 25% to $0.05. The company also recorded a net asset value (NAV) of $0.25 per share in Q2 2023. Additionally, the company completed the acquisition of 100% of Cunningham Energy and announced plans for a name and symbol change to Cunningham Natural Resources Corp. They also disclosed plans to acquire an interest in an operating copper mine and completed a corporate action to Spin-Off the Worldwide Diversified Holdings, Inc. (WDHI) assets, subject to SEC approval for trading of WDHI shares.
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Houston Natural Resources Corp (HNRC) Acquires 10% Interest in Kharrouba Copper Company, Inc (KCC) - PR Summary
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FAQ
What is the current stock price of HOUSTON NAT RES (HNRC)?
The current stock price of HOUSTON NAT RES (HNRC) is $0.01005 as of October 15, 2024.
What is the market cap of HOUSTON NAT RES (HNRC)?
The market cap of HOUSTON NAT RES (HNRC) is approximately 6.0M.
What does Houston Natural Resources Corp (HNRC) do?
HNRC is an energy enterprise with investments in oil, gas, and mining opportunities, striving to deliver value to its shareholders.
What are the core businesses of Houston Natural Resources Corp?
The core businesses include stakes in oil, gas, and mining ventures, with a focus on growth and innovation.
What projects is Houston Natural Resources Corp currently working on?
Houston Natural Resources Corp is actively involved in projects related to Cunningham Energy LLC and other strategic investments.
What are the financial conditions of Houston Natural Resources Corp?
The company's financial conditions are stable, with successful acquisitions and investments contributing to its growth.
What are the recent achievements of Houston Natural Resources Corp?
Recent achievements include obtaining full ownership of Cunningham Energy LLC and making strategic minority investments in various energy companies.
What is Houston Natural Resources Corp's approach to sustainability?
Houston Natural Resources Corp is committed to sustainability, incorporating it into its investment strategy and core business operations.
What sets Houston Natural Resources Corp apart in the energy sector?
The company's diversified portfolio, commitment to growth, and focus on innovation distinguish it in the energy sector.
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