Houston Natural Resources Corp. outlined its strategy to invest and sponsor Special Purpose Acquisition Corporations (SPACs) in 2022. The company intends to sponsor one SPAC investment in each quarter of 2022.

The company sponsored a successful $86 million NYSE listing of an energy focused SPAC during the first quarter of 2022. The company is currently focused on a second energy focused SPAC to be listed by the end of the second quarter. HNRC is currently evaluating six other SPAC opportunities for listing in the third and fourth quarter of 2022.

This strategy will result in a dividend to its shareholders, after the lock up period has expired, on each of the SPAC investments. This would provide quarterly dividends through the end of 2023. The company expects to realize at least $3 million on each of its SPAC investments to be added to its existing earnings in 2022 and 2023.

This could provide shareholders with more than $0.30 cents per share in annual dividends.