Houston Natural Resources Reports Q3 2023 Financials Period Ending September 30, 2023
Significant Growth Reported in Revenues, Earnings and EPS
Key Highlights for Nine Months Results: Q3 2023 Ending
- Total revenue reached
$15,241,815, exhibiting a 5% increase from $14,462,094.
- Total earnings for nine months amounted to
$8,871,912, showing a 9% growth from $8,163,923.
- Earnings per share (EPS) for nine months rose to
$0.06from $0.05, marking a 20% increase.
Notably, the company achieved a net asset value (NAV) of
Additionally, the company reported successful milestones achieved in the third quarter, including:
- Achieved 100% ownership of
Cunningham Energy, LLC.
- An independent engineering firm assessed the Oil & Gas Assets of Cunningham Energy, determining an appraised value of
$352 millionas of December 31st, 2022, based on a 68 well drilling program.
- The appraised value translates to
$2.54per share as of September 30, 2023.
- Filed with FINRA on
August 8, 2023, for a comprehensive review leading to a change in name, symbol, and CUSIP to Cunningham Natural Resources Corp.
- Realized a value of
$0.15per share in current energy assets held by subsidiaries, with the potential for a 10% per share future dividend.
Mining Interest Acquisition:
- Completed the acquisition of a 9% interest in the Placer Claims known as the 'Nugget Trap Placer Mine' in the British Columbia Mineral Title registry, covering 573.7 acres.
- This includes permits and authorizations in the Skeena Mining Division of
British Columbia, Canada, with initial reserves valued at over $500 million.
- Successfully executed the corporate action to Spin-Off WDHI assets.
- The trading of WDHI shares is pending
SECregistration statement review.
Financial Performance and Strategic Outlook:
- Continued receipt of advisory fees for assets under management.
- Actively evaluating potential acquisitions in the energy and energy services industry to enhance shareholder value.
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.
Phone: (713) 425-4901