Cunningham Natural Resources Corp CNRC

HNRC REPORTS RECORD RESULTS FOR PERIOD ENDING DECEMBER 31

[AveragePenny]

HOUSTON, March 7, 2023 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today record results for the year ending December 31, 2022.

Financial Results: Twelve Months December 31, 2022 vs Twelve Months December 31, 2021

• Total revenue for twelve months was $ 20,516,899 vs $ 18,217,737, an increase of 12.6 %
• Total earnings for twelve months were $ 9,821,899 vs $ 7,820,857, an increase of 25.5 %
• Total assets for twelve months were $ 92,741,566 vs $ 74,251,027, an increase of 24.9 %
• Earnings per share for twelve months was $ 0.14 per share.
• The company has a net asset value of $ 1.35 per share as of December 31, 2022.

Frank Kristan, President of Houston Natural Resources Corp commented that:

"We are delighted that our growth is continuing with strong results reported for the year ending December 31, 2022. The company's increase in revenues and earnings has been due to acquisitions and an increase in services it provides to its portfolio companies. The company sponsored a successful $86 million NYSE listing of an energy focused special purpose acquisition corporation in 2022 and acquired an interest in Cunningham Energy. We anticipate consistent growth from revenue and profit in 2023 in addition to other liquidity events for HNRC shareholders. The company is evaluating sponsoring other energy focused special purpose acquisition corporations in addition to water treatment plants, oil and gas assets and energy services opportunities."

https://www.prnewswire.com/news-releases/hnrc-reports-record-results-for-period-ending-december-31-2022-301764340.html