HOUSTON NAT RES CORP - HNRC STOCK NEWS

Houston Natural Resources Corp (HNRC) has completed the acquisition of a 100% interest in Cunningham Energy, LLC, increasing HNRC's net asset value (NAV) by $3.35 per share. The company intends to change its name to Cunningham Natural Resources Corp (CNRC) and focus on traditional oil and gas opportunities, as well as mining opportunities in copper, lithium, gold, and other metals. Cunningham Energy plans to list on the NASDAQ or NYSE in 2023 with an underwriting commitment of $10 million. The acquisition increases the company's appraised asset value by $3.35 per share.

Houston Natural Resources Corp. (OTC: HNRC) has filed a registration statement for Worldwide Diversified Holdings, Inc to register the shares involved in the spin-off. WDHI anticipates a NASDAQ listing with a target price of $3.50 per share. The company also expects to complete the acquisition of 100% interest in Cunningham Energy, with appraised reserves of $352 million, in July 2023. They are preparing to file an SEC registration for HNRC uplisting to NASDAQ after the acquisition is completed. The company has signed a $10 million-dollar underwriting commitment for acquisitions and a listing to a major exchange.

Houston Natural Resources Corp. (OTC: HNRC) has provided an update on its strategy to invest and sponsor Special Purpose Acquisition Corporations (SPACs). The company has acquired an interest in CE Energy Sponsors LLC, the sponsor of CE Energy Acquisition Corp (CEAC), which has filed a registration statement for a $100 million SPAC. HNRC has also announced its investment in HNR Acquisition Corp (HNRA) and its intent to acquire Pogo Resources LLC for $120 million. The company expects to realize at least $3 million on each of its SPAC investments in 2023 and 2024.

Houston Natural Resources Corp. (OTC: HNRC) announced the completion of a FINRA review for a spin-off dividend, set to reward shareholders. Shareholders of record on April 28, 2023, will receive one share of Worldwide Diversified Holdings, Inc. (WDHI) for every two shares of HNRC. This equates to a dividend of $1.75 per HNRC share, with the anticipated initial trading price of WDHI shares at $3.50. The payment date for the dividend is set for May 26, 2023. The spin-off aims to separate the company's non-energy assets, with a total value of $53,307,324 transferred to WDHI. The new CUSIP for WDHI shares has been issued, and the transfer agent will facilitate the process. This transaction is characterized as non-taxable and will not affect HNRC's existing business operations.

Houston Natural Resources Corp. (OTC: HNRC) is set to present at the Emerging Growth Conference on April 19, 2023. The event will allow individual and institutional investors to engage with CEO Frank Kristan during a real-time, interactive presentation scheduled for 9:40 AM Eastern Time. Attendees can submit questions in advance via email or ask during the event. The presentation will last approximately 20 minutes, and a recorded version will be available on the Emerging Growth website and YouTube channel afterward. HNRC, a diversified energy company with significant oil and gas interests, is actively pursuing new acquisitions to enhance shareholder value.

Houston Natural Resources Corp. (OTC: HNRC) CEO Frank Kristan recently appeared on The Street Reports, discussing key developments including the Rhino Energy Acquisition, Earnings Reports, and the 2023 Energy Outlook.

The company has a diversified portfolio with a significant presence in oil and gas, particularly noted for its Halff Oil Field in Texas, which houses 83 oil wells with estimated reserves of $69 million. HNRC also holds a 9.9% stake in Cunningham Energy LLC, valued at $352 million, and a 40% interest in Rhino Energy Pty Ltd. The company continues to pursue new acquisitions to enhance shareholder value.