HNRC
HAS
RISEN 91% IN LAST TWO
WEEKS
HOUSTON,
TX -- June 7, 2021 -- InvestorsHub NewsWire
-- Houston Natural
Resources Corp. (OTC:
HNRC) ("HNRC or the
Company") has seen a rise of
91% in its stock price in the last two weeks. The
Company's
opening
price on May 24, 2021 was $1.25
with a
closing price of $2.39 on June 4,
2021.
The 10
day average trading volume of 12,300 shares
is up
168% over the 30 day trading value of 4,585
shares.
The
current market value is $36.8 million. The Company
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. HNR Oil Services LLC,
has independently appraised value of $7,600,000 in equipment and
permits that are valued at an
additional $0.49 per
share.
The
Company has previously confirmed that
it
is targeting acquisitions up to $100 million in
acquisitions in the oil and gas sector through its
subsidiary Houston Natural Resources, Inc ('HNRI")
that
would add
more than $6 per share.
Oil prices have been
rising driven by
expectations that recovering demand with summer travel and
reopening economies will easily accommodate the gradual increase in
OPEC+ production.
The Company
has
previously announced that it 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.
