This morning there are a number of companies that are expected to come onto the radars of investors in a big way and one of those is possibly going to be Houston Natural Resources Corp(OTC:HNRC).
Following a key announcement from the company yesterday the Houston Natural Resources Corp stock had ended up with gains of as much as 17.06% on higher-than-average volume. The gains made by the stock for the week so far stand at 19.61%.
The company provided an update yesterday with regard to its strategy of investing and sponsoring Special Purpose Acquisition Corporations. The company announced that it had completed the acquisition of an interest in CE Energy Sponsors LLC.
In this regard, it should be noted that CE Energy Sponsors LLC is actually the sponsor of CE Energy Acquisition Corp (CEAC) which had completed the filing of a registration statement for as much as $100 million special purpose acquisition corporation. It was further noted that CEAC was currently in search of a business to target but it was specified that it was looking for companies involved in the exploration, development, production, storing, processing, refining, marketing, and distribution of natural gas, crude oil, natural gas liquids and refined products in the North American, Central American and South American markets.
However, it was also announced that CEAC was also going to look into the possibility of pursuing an acquisition opportunity in the renewable energy space. These forms of energy are sustainable and usually involve wind energy, geothermal, hydropower or solar power among others. CEAC is looking to have its listing at some point in 2023. Houston Natural Resources Corporation had invested in HNR Acquisition Corp, a SPAC vehicle, and had expressed its intent to acquire Pogo Resources LLC.