HNRC TARGETS $140 BILLION ASSET SALES
21 Julho 2021 - 11:55AM
InvestorsHub NewsWire
HNRC TARGETS $140 BILLION ASSET SALES
HOUSTON, Texas -- July 21, 2021 -- InvestorsHub NewsWire
-- Houston Natural Resources Corp. (OTC:
HNRC) ("HNR or the Company") announced today that its
subsidiary Houston Natural Resources, Inc is targeting acquisitions
of producing oil and gas properties.
The total value of oil and gas assets up for sale across the
industry stands at more than $140 Billion, according to the
consultancy firm Wood Mackenzie. The disposals come amid rising
speculation about "stranded assets" — huge oil and gas reserves
that might never be extracted if the world pursues the Paris
climate goals.
"One company's transition away from fossil fuels is another's
opportunity to double down. Under intense pressure from investors
and activists to take more action on climate change, some of the
world's biggest oil and gas companies are putting billions of
dollars' worth of assets up for sale," says Anjli Raval of the
Financial Times.
"These operational assets will mint money like you have no idea
over the next three to five years," says Laurent Segalen, a clean
energy investment banker and managing partner at Megawatt-X, a
platform which aims to enable the funding of the energy transition.
"Hedge funds, private equity, companies you have never heard of,
will pick these assets off."
The Company expects to complete a transaction in the third or
fourth quarter of 2021 and anticipates the acquisition to be at
least $100 million in revenue.
The Company's management team is well positioned to identify
attractive risk-adjusted returns in the marketplace through their
contacts and transaction sources, ranging from industry executives,
private owners, private equity funds, and investment bankers. Our
management believes that its ability to identify and implement
value creation initiatives will remain central to its
differentiated acquisition strategy.
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.
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
Houston Natural Resources (PK) (USOTC:HNRC)
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