HNRC Has Risen 91% In Last Two Weeks
HOUSTON, June 7, 2021— 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.
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.
Houston Texas USA.