HNRC TARGETS OVER $6.00 PER
SHARE
HOUSTON, TX -- May 26, 2021 -- InvestorsHub NewsWire
-- Houston Natural Resources Corp. (OTC:
HNRC) ("HNR or the Company") confirmed today that it currently
has a total of $9.67 per share in assets.
The Company's net asset value is $4.71 per share for the period
ending March 31, 2021.
In addition, the Company's subsidiary Houston Natural Resources,
Inc ("HNRI") has independently appraised value of $69,000,000 in
proven reserves that are valued at $4.47 per share.
HNRI has acquired approximately 2,800 acres of oil and gas
leases located in the Halff Oil Field in Crockett County, Texas.
HNRI is currently reviewing possible acquisitions of producing oil
and gas properties in addition to operating its water treatment
facilities operated by its subsidiary HNR Oil Services, LLC.
HNR Oil Services LLC, has independently appraised value of
$7,600,000 in equipment and permits that are valued a $0.49 per
share.
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.
The company projects total combined revenues of $23 million and
$12 million in earnings for the year ending December 31, 2021. The
forward earnings per share are projected to be $0.77c per share.
According to industry research, the S&P 500 Integrated Oil
& Gas Index, forward earnings, & valuation, as of May
25,2021, is between 8x and 14x forward earnings. This would imply a
target value for HNRC of $6.16 per share and $10.78 per share.
HNRC is a diversified holding company that has two subsidiaries,
Houston Natural Resources, Inc ("HNRI") and Worldwide Diversified
Holdings, Inc ("WDHI"). HNRI owns oil and gas properties and a
waste-water treatment plant. WDHI has business operations that
provide products & services in the Information Technology &
Healthcare markets. HNRC anticipates up listing onto OTCQX or major
exchange. The company is preparing an SEC filing to become an SEC
reporting company.
About Houston Natural Resources Corp
Houston Natural Resources Corp (www.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@HoustonNaturalResources.com
Houston Texas USA.
