Houston Natural Resources Corp
Reports 2Q Financials June 30, 2022
Total Revenue 2022 YTD
increase 41% Y/Y & Earning 2022 YTD increased 38%
Y/Y
Total Assets Exceeding $74M
Second Quarter June 30, 2022
Houston, TX -- August 1,
2022 -- InvestorsHub NewsWire -- Houston Natural Resources Corp.
(OTC: HNRC) ("HNR or the Company") announced
today record results for the second quarter 2022, quarter ending
June 30, 2022. The company's second quarter revenues of
$5,125,473 and $8,687,641
for the first six months of 2022 a 41% increase compared to
$7,614,534 through June 30, 2021.
The company's net earnings have
increased 38% to $5,526,987 for the six-month period
ending June 30, 2022, compared to $4,006,260
for the same period
ending June 30, 2021. This equates to $0.18 per share in
earnings per share (EPS) for the first six months of
2022.
The company's net assets
have increased to $74,111,221 and the company's net asset value
is $2.43 per share for the period
ending June 30, 2022.
In the first quarter the company
sponsored HNR Acquisition Corp a special purpose acquisition
corporation that raised $86 million for a business combination. The
company is currently working on sponsoring a second special purpose
acquisition. The company plans to make an up listing to the OTCQB
in the fourth quarter.
The second Quarter the company announced
a $53M non energy asset spin-off into Worldwide Diversified
Holdings, Inc. (WDHI) in 2022 and HNRC's
shareholders would receive a
dividend of $1.75 of WDHI shares for each HNRC share owned as
announced on June 30, 2022. The spin-off changes the focus of the
company towards its energy reserves, primarily 83 oil
wells, estimated 33 million barrels in Texas among other
interests.
About Houston Natural Resources
Corp
Houston Natural Resources Corp.
(OTCMKTS: HNRC) (www.hnrcholdings.com) is a diversified
energy company with oil and gas interests as well as wastewater
treatment facilities. The Halff Oil Field in Crockett County,
Texas, 83 oil wells, estimated 33 million barrels of oil and water treatment and appraised reserves
of $69 million. The company will also continue to seek
new oil and gas and wastewater acquisitions as it focuses on
creating more value for HNRC investors."
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@hnrcholdings.com
Houston Texas
USA.
Phone: (757)
707-4563
