HOUSTON NATURAL RESOURCES RECEIVES FINANCING COMMITMENT FOR IT’S SECOND WASTEWATER DISPOSAL UNIT
HOUSTON, TEXAS, November 5, 2020 – HNR Oil Services LLC, a wholly owned subsidiary of Houston Natural Resources Inc., the wholly owned Operating company of the Houston Natural Resources Corp. (OTC: HNRC) (“HNR or the Company”) announced today that it has received a financing commitment for the purchase of its second saltwater disposal unit. In addition, the company has received a $1,000,000 commitment to fund its working capital requirement.
The second unit will be installed at HNR Oil Services LLC YO Ranch Commercial Facility, which has now been operational for two months with its initial unit. This will increase the processing capacity of the facility. The facility is permitted for disposal of twenty-five thousand barrel per day of oil field toxic waste fluids and is permitted and will soon expand to sterilizing oil field toxic solids waste. These unique permits have allowed HNR Oil Services to issue its customers a Texas State Certificate of Destruction of such toxic waste. This is an especially important step in environmental protection by keeping toxic materials out of land fields. HNR Oil Services anticipates a rapid expansion with additional four processing facilities across all suitable oil and gas producing regions.
The YO Commercial Facility will focus on the process of removing undesirable chemicals, suspended solids, oil and gases from contaminated water and solids. By the end of 2020, the YO Commercial Facility is expected to be generating HNRC approximately $250,000 per month of Net Operating Income from the fluid disposal side alone.
In the second phase of a two-phase strategy for growth, HNRI is pursuing the development and production of our proven oil reserves in addition to acquiring producing and non-producing assets with quantifiable reserves and production capabilities. HNRI is retaining an investment bank to identify potential transactions and provide financing. It anticipates completing its audit in the fourth quarter. With the completion of the audited statements, HNRI intends to file a registration statement in the fourth quarter for listing on to the NYSE under the reserved symbol of HNRI.
Houston Natural Resources Corp is completing two years of audited statements and anticipates up listing onto OTCQB in the fourth quarter. The Company is preparing to file to become an SEC reporting company. In addition, the Company announced that its newly formed Delaware subsidiary, Worldwide Diversified Holdings, Inc has completed its initial audit.
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.
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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.