Archive for the ‘Imperial Petroleum Inc. IPMN’ Category

Imperial Petroleum, Inc. (IPMN) Engages Wolfe Axelrod Weinberger Associates for Investor Relations Services

Thursday, August 11th, 2011

Shortly after today’s opening bell, Imperial Petroleum announced that it has retained Wolfe Axelrod Weinberger Associates LLC as its investor relations firm to communicate the company’s strategic goals and business developments to the investment community.

Mr. Jeffrey T. Wilson, CEO of Imperial Petroleum, noted, “Imperial has reached an inflection point in its growth that warrants an active investor relations program. After a careful search and review, we have selected Wolfe Axelrod Weinberger Associates to assist us in our investor relations efforts because of its focus on emerging microcap companies and its extensive contacts among investors who are interested in new, potentially rewarding investment opportunities.”

According to the press release, Imperial Petroleum believes the firm can help them improve shareholder value by increasing awareness and communicating its value proposition to investors.

Mr. Stephen D. Axelrod CFA, Managing Member of Wolfe Axelrod Weinberger Associates, commented, “We are pleased to be chosen to represent Imperial Petroleum as its investor relations agency. Imperial is engaged in several areas of energy production but has focused on the production and sale of biodiesel and biofuels.”

In just a short time, Imperial has established itself as a leading producer of biodiesel fuel. Since acquiring e-biofuels last year, the company has doubled its biodiesel capacity to over 30 million gallons per year. With the present ramp up in sales, Imperial has achieved profitability and positive cash flow and is now looking to further increase its capacity to meet the demand for a biodiesel fuel that offers a high quality substitute fuel and/or fuel additive.

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Imperial Petroleum, Inc. (IPMN) Provides Investors with Update and Expectations of Strong Fourth Quarter Results

Monday, August 8th, 2011

Earlier today after the opening bell, Imperial Petroleum, Inc. provided the investor community with a comprehensive update on its operations and current initiatives.

President of Imperial Jeffrey T. Wilson stated, “We have purchased an initial site comprising 121 acres in Kentucky for the installation of our oil sands processing unit and have begun a program to lease surrounding acreage to increase our overall acreage position in this area and begin mining operations in October, 2011. We have established an operating facility in Houston, Texas for our subsidiary, Imperial Chemical Company, to manufacture SANDKLENE 950 in connection with the oil sands operations. Our traditional oil and gas operations continue producing at normal rates and we sold approximately 3,100 barrels of oil in July from the property.”

“Biodiesel production and sales remain strong as a result of the mandated biodiesel fuel usage included in the Renewable Fuel Standard (RFS2) legislation and we expect to post a strong fourth quarter when our annual audited financials are released in October, 2011,” Mr. Wilson continued.

In conclusion, Mr. Wilson assured investors that although recent turmoil in the financial markets has had a negative effect on the equity markets, resulting in a decline of the company’s stock price, the fundamental progress and growth of Imperial Petroleum remains “quite strong.”

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Imperial Petroleum, Inc. (IPMN) Secures Diversified Energy Portfolio with Traditional Production

Friday, August 5th, 2011

Given that Imperial Petroleum has one of the more forward-looking portfolios of any developing energy company, with interests in biodiesel as well as tar sands recovery technologies, it’s easy to overlook the company’s substantial stake in traditional oil and gas production.

A major part of this effort is their interest in Coquille Bay Field, located in Plaquemines Parish, on the southeast tip of Louisiana. The field had been inactive for several years, and a new operating agreement was negotiated with the State of Louisiana by the previous operator, Royal-T Oil Co, Inc. Imperial assumed operations in January 2005 and successfully completed the major platform renovation work, beginning limited gas sales and oil production from the field in the summer of 2005.

The field has multiple pay sands from 6,000 feet to 11,000 feet, and a total of 17 completions are tied to a production platform on the east side of the Mississippi River near Buras, Louisiana. Imperial owns a 22% working interest plus a 21.04% net revenue interest in the field. However, due to non-consent elections by several of its partners, the company participates for a 49.5% working interest and a 42.15% net revenue interest, subject to a 500% non-consent payout provision on the balance of the interest. The Louisiana Resource Development Corporation (LRDC) is carried for 6.45% working interest and 4.515% net revenue interest by Imperial until a volume payout of 204,000 barrels of oil equivalent are produced. Currently the field produces from 3 wells at approximately 65-70 bopd and 30 mcfpd due to limited saltwater disposal capacity.

Custody transfer of the natural gas to the purchaser, Mideast Gas, occurs at the Imperial platform where the gas is metered. Oil production is stored at the platform and sold via barge loading facilities to Plains. A pipeline outlet and lact unit are available at the platform for oil sales into Chevron’s pipeline, although the previous operator had not negotiated a sales contract at the time Imperial assumed operations.

Seismic data across the company’s acreage suggests the potential for deeper prospective pay zones.

For additional information, visit the company’s website at www.ImperialPetroleumInc.com

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Imperial Petroleum, Inc. (IPMN) Video Chart for Tuesday, August 2, 2011

Tuesday, August 2nd, 2011

IPMN is stuck in a channel between $1.30 and $1.40. Volume picked up yesterday as the stock closed at the topside of the channel which will have technical traders once again on watch for a breakout and potential climb to test old highs.

To view the video chart, visit the following link: http://www.qualitystocks.net/videocharts

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Jeffrey T. Wilson Leads Imperial Petroleum, Inc. (IPMN) to Successful Diversification

Monday, August 1st, 2011

Since 1993, Jeffrey T. Wilson has been the Chairman, President, and CEO of Imperial Petroleum, moving it into its current position of being a diversified energy company, with interests in biodiesel production, oil sands processing, as well as traditional oil and gas production.

The acquisition of e-Biofuels gave Imperial an instant production capacity of 15 million gallons per year of biodiesel, expandable to 30 million gallons. Biodiesel sales for the quarter ended April 30, 2011, were approximately $36.5 million. In the area of non-traditional oil production, the company formed Arrakis Oil Recovery, to acquire a non-exclusive license for the development of a revolutionary process for the recovery of oil from tar sands. In addition, Imperial operates 18 traditional oil and gas wells in Louisiana, and has interests in several other sites.

With a degree in mechanical engineering, Jeffrey Wilson began his oil and gas career with Exxon Company USA. He then went on to work with petroleum consulting firm Netherland, Sewell & Associates, and later joined Vintage Petroleum, where he eventually became an Executive VP and Director. He then joined LaTex Resources, an affiliate of Imperial, and was the founder of its principal operating subsidiary, LaTex Petroleum Corporation. He has held his current role leading Imperial since August of 1993.

Other Imperial directors:

• Annalee C. Wilson (Director) is President of HN Corporation, a company that operates retail franchise outlets in malls, as well as a restaurant and gift shop.
• Aaron M. Wilson (Director) is active in Imperial’s biofuels efforts for the Hoosier Biodiesel subsidiary, and has a dual degree in Business Economics and Political Science.
• John Ryer (Director) has extensive experience in financial management and capital formation, and was formerly employed by ING Investments, Pilgrim Mutual Funds, and Merrill Lynch.
• J. Gregory Thagard (Director) has an extensive oil and gas background, and was recently managing partner of Hillside Oil and Gas.

For additional information, visit the company’s website at www.ImperialPetroleumInc.com

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Imperial Petroleum, Inc. (IPMN) Ready to Tackle Tar Sands with New Proprietary Process

Monday, July 25th, 2011

Perhaps Imperial Petroleum’s greatest long-term asset is the company’s diversity, together with its successful moves into developing technologies. Not only has Imperial been able to make major gains in renewable energy, managing to grow a recent bio-diesel production acquisition to an expected $60 million in sales for 2011, but it has also gained a significant foothold in the field of bitumen recovery from tar sands through its Arrakis Oil Recovery subsidiary.

Arrakis Oil was formed to own and operate a process technology license for the recovery of bitumen from oil sands, using patented and proprietary technology. The process involves a non-thermal process, both mechanical and chemical, resulting in complete separation of hydrocarbon residue from the sands. The chemical involved is non-toxic and biodegradable, and has a zero discharge other than clean sand and bitumen. In addition, the technology works equally well when applied to oil-wet or water wet tar-sand systems.

The goal is for initial operations to be installed at a pre-selected site containing several million tons of mined oil sands, with processing of 300 tons per day, expanding to 2,400 tons per day, to take place within the first few months. Roughly 8% of the material processed will be bitumen, to be sold for approximately $400 per ton. Direct operating costs of about $6.70 per barrel of bitumen are expected when processing rates reach 2,400 tons per day.

In addition to Imperial’s Arrakis and e-Biofuels subsidiaries, the company also has Ridgepoint Mining Company, involved in the development of commercial scale gold mining at its claims in Utah, and Hoosier Biodiesel, for the production of renewable boiler fuels. Imperial also has The Rig Company, which provides rig equipment and related services.

For additional information, visit the company’s website at www.ImperialPetroleumInc.com

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Imperial Petroleum, Inc. (IPMN) Cultivates Major Green Component

Tuesday, July 19th, 2011

Energy diversity is a keyword at Imperial Petroleum, an Indiana based company engaged in three principal areas of energy production: biodiesel and biofuels production, traditional oil and gas exploration and production, and non-traditional oil production of heavy oil from tar sands.

One of the company’s biggest moves was the acquisition of e-biofuels, LLC, a biodiesel producer located in Middletown, Indiana, with a nameplate capacity of 15 million gallons per year, and an expanded production capacity of approximately 30 million gallons per year. While it has been a rough time for many biodiesel plants, careful management from Imperial has grown biodiesel sales, and revenues for 2011 are now expected to exceed $60 million.

Biodiesel is a clean-burning alternative fuel produced from vegetable oils and animal fats, and can be used in existing diesel engines with no major modifications. Biodiesel is not only renewable, it’s non-toxic, biodegradable, carbon neutral, and, although it contains no petroleum, it can be blended in any ratio with petroleum diesel. In 2000, biodiesel became the only alternative fuel to have successfully completed the EPA-required Tier I and Tier II health effects testing under the Clean Air Act. These independent tests conclusively demonstrated biodiesel’s significant reduction of virtually all regulated emissions, and showed that biodiesel poses no threat to human health. Moreover, pure biodiesel does not contain sulfur and therefore reduces sulfur dioxide exhaust from diesel engines to virtually zero.

As a result of the many benefits of biodiesel, its production has gained continued support from governments around the world. In addition, since it is made domestically from renewable resources such as soybeans, its use decreases dependence on foreign oil and contributes to the growth of the U.S. economy.

For additional information, visit the company’s main website at www.ImperialPetroleumInc.com

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Imperial Petroleum, Inc. (IPMN) Commences Trading on the OTC Market’s Highest Tier

Tuesday, July 12th, 2011

Today before the opening bell, OTC Markets Group Inc., the company that operates the world’s largest electronic marketplace for broker-dealers to trade unlisted stocks, announced that Imperial Petroleum, Inc., an energy company with operations in bio-fuels and oil and natural gas production, is now trading on its highest tier, OTCQX.

“Investors prefer the quality-controlled admission process on OTCQX which identifies the segment of OTC companies focused on valuation and transparency,” said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. “We are pleased to welcome Imperial Petroleum to OTCQX.”

Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcqx.com and www.otcmarkets.com. Rodman & Renshaw, LLC will serve as Imperial Petroleum’s Designated Advisor for Disclosure (“DAD”) on OTCQX, responsible for providing guidance on OTCQX requirements.

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Imperial Petroleum, Inc. (IPMN) Leverages a Diversified Business Model

Thursday, July 7th, 2011

Imperial Petroleum, Inc., headquartered in Evansville, Indiana, is a diversified energy company vested in traditional oil and gas exploration and production; biofuels, notably biodiesel; and non-traditional oil extraction from workable tar sands.

In the first category, Imperial Petroleum operates – either through working interests or through leases – oil and gas wells in the Bernice Field in Union Parish, northern Louisiana; in the Coquilee Bay Field in Plaquemines Parish, Louisiana; in the Cotton Valley, Travis Peak and Pettit formations in the Bethany and Carthage fields in Texas; in Jack and Parker counties, Texas; and in the Claymour Field, Todd County, Kentucky. The Company also holds the rights to several inactive gas wells as part of its New Albany Shale holdings.

In the second category, and after the successful purchase of e-biofuels, LLC, the Company operates through that company and through its subsidiary, Hoosier Biodiesel Company, to produce biofuels/biodiesel.

E-biofuels offers environmentally friendly biodiesel made from soybean oil, animal fats and tallow. Hoosier is vested in making and selling renewable boiler fuels, and recently concluded the research and development phase of a new process for making these fuels.

This process includes:

• A proprietary, patent-pending emulsification technology which delivers cost-effective, renewable boiler fuels aimed at reducing nitrogen oxide (NOx) and sulfur dioxide (Sox) emissions without sacrificing efficiency
• A proprietary pre-treatment process that converts fatty acids to biodiesel without esterification ( and without the significant losses associated with such processing)
• A proprietary finish process that reduces the cold-flow properties of biodiesel to 40 degrees (Centigrade) below zero without yield reduction

In the third category, the Company created Arrakis Oil Recovery, LLC, in February of 2010, to obtain a non-exclusive license for the development of a revolutionary new, eco-friendly process to recover bitumen from tar sands in the U.S.

The process, which does not rely on heat and is thus less energy intensive than traditional tar sands recovery, uses a closed-loop system to prevent emissions, and chemical enhancements to make the tar-oil flow through pipelines.

Bitumen in its natural state is a very thick form of crude oil that will not flow unless heated or diluted, usually with other hydrocarbons. In Canada, these bituminous reserves are primarily “water-wet”; that is, a layer of water surrounds the bituminous sand. In the U.S., most tar sands, notably those in Utah, are “oil-wet”.

Arrakis’s process reportedly works equally well on water-wet and oil-wet tar sand deposits and – backed by an exclusive license to use the extraction technology in Canada – has built a commercial-scale demonstration facility and entered into an agreement with Clean Sands International, Inc. to develop the revolutionary bitumen-thinning process in Argentina, Canada, Mexico, Russia and Venezuela. This permission is in exchange for an up-front fee, royalties, and a facility in the southwestern U.S. which will be built by Clean Sands. The commercial demo unit will be field-tested this summer.

Imperial Petroleum also operates a subsidiary, Ridgepoint Mining Company, which retains smelter royalties and an equity position in a joint placer gold mining venture with Duke Mining Company, which operates a mine in San Juan County, Utah.

Taken as a whole, the extensive diversification of Imperial Petroleum predicts its success no matter which way the various markets move, and good business practices translate that success into improved energy extraction technologies, reliable working partnerships, and significant returns for shareholders.

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Imperial Petroleum Inc. (IPMN) is “One to Watch”

Friday, July 1st, 2011

Imperial Petroleum, Inc. is a diversified energy company focused on biodiesel and biofuels production; traditional oil and gas exploration and production; and non-traditional oil production of heavy oil from mineable tar sands. The company plans to expand its biofuels operations across the United States over the coming months and is currently evaluating other sites for biodiesel facilities.

The company’s biodiesel and biofuels division uses waste greases and oils, including chicken fat, as its primary feedstock. Biodiesel sales for the quarter ended April 30, 2011 were approximately $36.5 million on volumes of about 8.7 million gallons. The production facility is now operating at an annual capacity of approximately 30 million gallons due to expansion of the plant and improved efficiencies.

Imperial Petroleum also operates eighteen oil and gas wells in Louisiana as well as owns an overriding royalty interest in Kentucky and the rights to several inactive gas wells as part of its New Albany Shale play. Oil and natural gas operations are currently producing about 70-100 Bopd and 200 mcfpd. The company’s estimated net proven oil and gas reserves as of July 31, 2010 were 337 MBO and 3,284 Mmcfg, respectively.

Through wholly-owned subsidiary Arrakis Oil Recovery, Imperial Petroleum owns the exclusive rights to manufacture, distribute and use MDEChem’s patented chemical catalyst in the recovery of oil from tar sands. The new, eco-friendly process uses a closed loop system to eliminate emissions and works equally as well on -wet (US) tar sands or water-wet (Canadian) tar sands.

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