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HNRC Targets $140 Billion Asset Sales

·4 min read

HOUSTON, July 21, 2021 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that its subsidiary Houston Natural Resources, Inc is targeting acquisitions of producing oil and gas properties.

The total value of oil and gas assets up for sale across the industry stands at more than $140 Billion, according to the consultancy firm Wood Mackenzie. The disposals come amid rising speculation about "stranded assets" — huge oil and gas reserves that might never be extracted if the world pursues the Paris climate goals.

"One company's transition away from fossil fuels is another's opportunity to double down. Under intense pressure from investors and activists to take more action on climate change, some of the world's biggest oil and gas companies are putting billions of dollars' worth of assets up for sale," says Anjli Raval of the Financial Times.

"These operational assets will mint money like you have no idea over the next three to five years," says Laurent Segalen, a clean energy investment banker and managing partner at Megawatt-X, a platform which aims to enable the funding of the energy transition. "Hedge funds, private equity, companies you have never heard of, will pick these assets off."

The Company expects to complete a transaction in the third or fourth quarter of 2021 and anticipates the acquisition to be at least $100 million in revenue.

The Company's management team is well positioned to identify attractive risk-adjusted returns in the marketplace through their contacts and transaction sources, ranging from industry executives, private owners, private equity funds, and investment bankers. Our management believes that its ability to identify and implement value creation initiatives will remain central to its differentiated acquisition strategy.

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.

HNRI has acquired approximately 2,800 acres of oil and gas leases located in the Halff Oil Field in Crockett County, Texas. HNRI is currently reviewing possible acquisitions of producing oil and gas properties in addition to operating its water treatment facilities operated by its subsidiary HNR Oil Services, LLC.

HNR Oil Services LLC, has independently appraised value of $7,600,000 in equipment and permits that are valued a $0.49 per share.

The Company 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.

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.

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@HoustonNaturalResources.com
Phone: +1 757-707-4563
Houston Texas USA

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View original content:https://www.prnewswire.com/news-releases/hnrc-targets-140-billion-asset-sales-301338770.html

SOURCE Houston Natural Resources Corp.