HOUSTON NATURAL RESOURCES CORP COMMENCES TRADING
Houston Natural Resources Corp. (OTC: HNRC) (“the Company”) formerly known as Worldwide Diversified Holdings, Inc commenced trading today.
The company has acquired 100% of Houston Natural Resources, Inc (“HNRI”) for the issuance of common and preferred shares. The acquisition will add approximately $18 million dollars in assets to the company balance sheet. In addition, the acquisition is projected to add $7 million in revenues with $5 million in earnings on an annualized basis. HNRI has completed audited statements and detailed independent appraisals of the assets. Currently, the Company is focused on completing audited statements for the last two years, which will provide for the Company to up-list on a major exchange in the next 12 to 18 months.
The company’s subsidiary, HNR Oil Services LLC, owns oil field waste water treatment and disposal facilities that exceed all state and federal regulatory requirements for providing maximum environmental protection, and will generate multiple streams of revenue for the company via saltwater disposal and byproduct remediation, focused on the process of removing undesirable chemicals, suspended solids, and gases from contaminated water. By the end of Summer 2020, this facility is expected to generate from the fluid side of the facility an estimated $250,000 per month of Net Operating Income. HNR Oil Services LLC expects to commence construction of its second facility during calendar 2020. The company is also acquiring producing and non-producing assets with quantifiable reserves and production capabilities in oil and gas. In today’s markets HNRI recognizes significant opportunities to acquire undervalued assets for long term appreciation. The company is also acquiring producing and non-producing assets with quantifiable reserves and production capabilities in oil and gas. In today’s markets HNRI recognizes significant opportunities to acquire undervalued assets for long term appreciation.
HNRI’s subsidiary HNR Financial LLC has received a term sheet for an initial commitment of up to $2,000,000, from a Texas Based Financial company, to assist in the implementation of the Company’s business plan.
The company has appointed Donald H. Goree, Donald W. Orr and Clayton H. Goree as new members of the Board of Directors. In addition, the Company has formed Worldwide Diversified Holdings, Inc as a Delaware Corporation and transferred the assets and liabilities to the wholly owned subsidiary. The Company, Houston Natural Resources Corp, now has two wholly owned subsidiaries: Houston Natural Resources, Inc., a Texas Corporation, and Worldwide Diversified Holdings, Inc., a Delaware Corporation.
Donald W. Orr., as President of Houston Natural Resources, Corp stated:
“We are excited about the future of Houston Natural Resources Corporation, as we will operate with minimal top-level overhead expenses while attaining fully sustainable operations on an accelerated timetable. During these difficult times for us all with the COVID-19 virus effecting lives, jobs, the markets, and the economy as a whole, HNRC will, in the near term, direct its personnel and financial resources to the rapid expansion of our HNR Oil Services LLC subsidiary, as its revenue streams are not adversely affected by the rapid momentary decline in oil prices.
In the second phase of a two-phase strategy for growth, HNRI will pursue the development and production of our proven oil reserves once oil prices have recovered. We currently have a new website under construction that will be announced shortly to best inform our shareholders. We are dedicated to providing support to our wholly owned subsidiaries to carry out their missions in both the near- and long-term.”
About Houston Natural Resources Corp
The Company is dedicated to increasing stockholder value through developing natural resources with state-of-the-art innovative technologies in tandem with oil field waste disposal and recycling that are environmentally safe and socially responsible. Information is on the website: www.HoustonNaturalResources.com.
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.
- Houston Natural Resources Corp
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