HNRC Targets Over $6.00 Per Share

Rhea-AI Summary

Houston Natural Resources Corp. (OTC: HNRC) has confirmed assets valued at $9.67 per share, with a net asset value of $4.71 per share as of March 31, 2021. Its subsidiary, Houston Natural Resources, Inc. (HNRI), has proven reserves worth $69 million, equating to $4.47 per share. HNRC projects combined revenues of $23 million and earnings of $12 million for the year ending December 31, 2021, with per share earnings expected at $0.77. The company aims to boost shareholder value and plans for potential asset sales and dividends.

Positive

• Total assets valued at $9.67 per share, indicating strong financial positioning.
• Projected revenues of $23 million and earnings of $12 million for 2021.
• Potential for target share value between $6.16 and $10.78 based on earnings multiples.
• Strategic focus on asset realization for shareholder benefit.
• Plans to up-list onto OTCQX or a major exchange.

Negative

• Forward earnings per share are projected to be $0.77, which may not be compelling.
• No immediate revenue generation reported from new oil and gas acquisitions.

HOUSTON, May 26, 2021 /PRNewswire/ -- 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:

Frank Kristan
Houston Natural Resources Corp.
E-mail: frank@HoustonNaturalResources.com  
+17577074563

 

View original content:http://www.prnewswire.com/news-releases/hnrc-targets-over-6-00-per-share-301300091.html

SOURCE Houston Natural Resources Corp.

FAQ

What are the total assets per share for Houston Natural Resources Corp. (HNRC)?

Houston Natural Resources Corp. holds total assets valued at $9.67 per share.

What is the projected revenue for HNRC for the year ending December 31, 2021?

HNRC projects combined revenues of $23 million for the year ending December 31, 2021.

What is the net asset value per share for HNRC as of March 31, 2021?

The net asset value for HNRC is $4.71 per share as of March 31, 2021.

What is the implied target share value for HNRC based on projected earnings?

The target share value for HNRC is estimated to be between $6.16 and $10.78 based on forward earnings multiples.

What subsidiary of HNRC has proven reserves and what is its appraised value?

Houston Natural Resources, Inc. (HNRI) has proven reserves appraised at $69 million.