OIL - HNRC STRONG FOURTH QUARTER EARNINGS EXPECTED PROJECTED TO CONTINUE IN 2022

PR Newswire

HOUSTON , Dec. 15, 2021 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that it expects to report strong results for the quarter ending December 31, 2021 and expects it to continue in 2022.

The company is currently projecting revenues for 2021 to be $17m and $8m in earnings before interest, taxes, depreciation and amortization. This would be an estimated $0 .43c per share in earnings for 2021. The company is projecting revenue to exceed $23m in 2022 and $10m in earnings before interest, taxes, depreciation and amortization. The earnings would be projected to be in excess of $0 .50c per share in 2022.

The company expects to achieve this through a combination of internal growth, acquisitions and expansion. In addition, the company expects to see an increase in advisory services revenue from its investment portfolio.

The company is targeting acquisitions in the $10m to $50m range to increase its portfolio value.

The company's net assets have increased by more than 100% to $73,446,688 over the last three years. The company's net asset value is $4.00 per share for the period ending September 30, 2021. The company intends to continue to acquire additional assets over the next three years.

The company's revenues have increased by more than 81% to $12,855,708 over the last nine months from the previous year and net income increasing by more than 192% to $7,094,342.

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.

About Houston Natural Resources Corp

Houston Natural Resources Corp ( 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

SOURCE Houston Natural Resources Corp.