HNRC 2023 UPDATE LETTER TO SHAREHOLDERS
Our company is dedicated to increasing stockholder value and has completed the following achievements in 2022:
- Completed an asset spinoff dividend to shareholders of
Worldwide Diversified Holdings, Inc.("WDHI") a majority owned subsidiary of HNRC and will be expanding its non- energy assets as a diversified holding company. The dividend will be credited to shareholders accounts by the transfer agent when the FINRAreview is completed and then a registration statement will be filed. The company does not have a definite date yet but will keep shareholders updated on the progress.
- Acquired a 9.9% interest in
Cunningham Energy, LLCand announced today that it extended its Letter of Intent to acquire an additional interest, for up to 100% interest, in Cunningham Energy, LLCto on or before March 31, 2023. An independent engineering company has completed an evaluation of the Oil & Gas Assets of Cunningham Energy. The appraised value of the company's leasehold position as of May 18th, 2022, is $218 million dollars, assuming the current proposed 40 well drilling program is completed.
In 2023 the company intends to continue to implement its strategies to benefit shareholders:
- The company is engaging an underwriter for a
$10 million dollarcommitment for an up listing to a major exchange in 2023.
- The company intends to focus on realizing the value on the total of
$1.15per share in current appraised energy assets held by its subsidiaries for the benefit of the shareholders.
- The company is evaluating additional acquisitions in the energy and energy services industry to provide value for shareholders,
- The company intends to continue sponsoring additional
SPACinvestments. The company sponsored a successful NYSE listing of an energy focused SPACduring the first quarter of 2022. The company is currently focused on a second energy focused SPACto be listed in 2023 and is currently evaluating other SPACopportunities for listing onto major exchanges. This strategy will result in a dividend to its shareholders, after the lock up period has expired, on each of the SPACinvestments. This would provide quarterly dividends through 2023 – 2024.
- CEO Frank Kristan Discusses Dividends, Acquisitions, and 2023 on "The Street Reports Podcast," Listen here: https://thestreetreports.com/houston-natural-resources-otc-hnrc-ceo-frank-kristan-discusses-dividends-acquisitions-and-2023-on-the-street-reports-podcast-listen-now
I am very excited about the tremendous opportunity we have in front of us, and I am confident we have the team in place to capitalize on it. We thank you for your continued support, and we wish you a prosperous 2023.
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, E-mail: email@example.com, Houston Texas USA., Phone: (757) 707-4563