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Houston Natural Resources Corp (OTC:HNRC) – The company announced on July 11 that it had completed the 100% acquisition of Cunningham Energy LLC. The transaction boosted the net asset value of Houston Natural Resources Corp to $3.35 a share. Previously the company had announced that it had picked up a 9.9% stake in Cunningham Energy.
Following the acquisition, Ryan Cunningham would continue to head Cunningham Energy. The company completed the transaction through the issuance of common and preferred stock. Eventually, Houston Natural Resources Corp seeks to change its name to Cunningham Natural Resources Corp.