HOUSTON NAT RES CORP - HNRC STOCK NEWS

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.

Houston Natural Resources Corp (OTC: HNRC) has acquired a 40% interest in Rhino Energy Pty Ltd, an Australian energy company focused on oil and gas development in North America. The transaction highlights an aim to expand HNRC's market presence, leveraging Rhino's experienced management team with notable backgrounds in the oil and gas sector. The company has also extended its letter of intent to acquire a 90.1% interest in Cunningham Energy LLC, expected to complete in the second quarter. Additionally, HNRC anticipates a public listing on NASDAQ and the payment of dividends from Worldwide Diversified Holdings, Inc in the same timeframe.

Houston Natural Resources Corp. (OTC: HNRC) reported strong financial performance for the year ending December 31, 2022. Total revenue reached $20,516,899, marking a 12.6% increase from $18,217,737 in 2021. Operating earnings rose by 25.5% to $9,821,899, compared to $7,820,857 the previous year. Additionally, total assets climbed by 24.9% to $92,741,566. The earnings per share stood at $0.14, while the net asset value per share was $1.35. The company's growth is attributed to acquisitions and increased services offered to its portfolio companies.

Houston Natural Resources Corp. (OTC: HNRC) has hired an attorney to file an SEC registration statement for its subsidiary, Worldwide Diversified Holdings, Inc. (WDHI), aiming for a public listing at $3.50 per share. HNRC shareholders will receive one WDHI share for every two HNRC shares held as of December 16, 2022, equating to a $1.75 stock dividend. The company also plans to up-list on a major exchange in 2023 with a $10 million underwriting commitment for expansion and operations. Expected revenue for 2022 is projected to exceed $18.2 million, a rise from $18.2 million in 2021 and $9.5 million in 2020.

Houston Natural Resources Corp (OTC: HNRC) provided a shareholder update highlighting key achievements from 2022 and strategic plans for 2023. The company completed an asset spinoff dividend to shareholders of Worldwide Diversified Holdings, Inc. and acquired a 9.9% stake in Cunningham Energy, LLC, with plans to increase this to 100% by March 31, 2023. HNRC aims for a $10 million commitment for an uplisting and to realize a value of $1.15 per share in energy assets. Additionally, the firm is exploring further acquisitions and SPAC investments, anticipating dividends for shareholders through 2024.

Houston Natural Resources Corp. (OTC: HNRC) announced that its subsidiary HNR Acquisition Corp. (HNRA) has entered into a $120 million membership purchase agreement with Pogo Resources. The deal is expected to yield $100 million in cash proceeds to Pogo, alongside 2,000,000 common shares of HNRA. HNRA currently holds around $86 million in trust funds. Additionally, HNRC plans to provide an additional dividend to shareholders after the lock-up period, with a net asset value (NAV) of $1.15 per share in energy assets.

Houston Natural Resources Corp. (OTC: HNRC) has announced the spin-off of its non-energy assets to its subsidiary, Worldwide Diversified Holdings, Inc. (WDHI). Shareholders of record as of December 16, 2022, will receive a stock dividend of WDHI shares, with an anticipated payment date of December 30, 2022. Post-transaction, HNRC will hold over $1.15 per share in appraised assets focusing on energy acquisitions and wastewater treatment. The company aims to pursue energy asset acquisitions and provide dividends in 2023.

Houston Natural Resources Corp (OTC: HNRC) announced a spin-off of its non-energy assets to Worldwide Diversified Holdings, Inc (WDHI), with a stock dividend of $1.75 per share for HNRC shareholders. The record date for the dividend is December 16, 2022, with payment anticipated on December 30, 2022. This transaction, valued at $53,307,324, aims to separate non-energy investments, allowing HNRC to concentrate on oil and gas acquisitions and wastewater treatment expansion. The divestiture is structured as a non-taxable event.

On November 9, 2022, Houston Natural Resources Corp. (OTC: HNRC) CEO Frank Kristan discussed the company's acquisition of Cunningham Energy and upcoming $1.75 dividend spinoff for shareholders during an interview on The Street Reports. The company holds interests in oil and gas and wastewater treatment, with the Halff Oil Field in Crockett County, Texas, featuring 83 oil wells and appraised reserves of $69 million. HNRC aims to expand through new acquisitions to enhance shareholder value.