posted
Imperial Petroleum, Inc. Rated 'Outperform,' Target $.50 by Beacon Equity Research
Business Wire via COMTEX
May 1, 2006 7:06:01 AM
DALLAS, May 01, 2006 (BUSINESS WIRE) --
Imperial Petroleum, Inc. (OTCBB: IPTM) has been rated "Outperform," with a price target of $.50 by Beacon Equity Research. The report is authored by Senior Research Analyst, Michael Schmidt, CFA.
In the report Mr. Schmidt writes, "In recent times, a number of small oil companies have emerged with the size and objectives similar to those of Imperial Petroleum and have performed exceedingly well. Some of these standouts include Canwest Petroleum (OTCBB: CWPC), Apollo Resources (OTCBB: AOOR), Eden Energy Corporation (OTCBB: EDNE) and Micron Enviro Systems (OTCBB: MSEV).
"Imperial Petroleum presents an interesting investment opportunity at current levels. The primary risk is that the Company will be unable to refinance its high-interest debt which is due in the coming year. If the Company is successful in either refinancing this debt, or selling assets to lower this burden, it will be in a very competitive position. Imperial has many significant oil-producing properties, and would be poised to generate a tremendous amount of free cash flow relative to it size if it can overcome its current debt and bring some of the most productive properties back online."
Beacon Equity Research Disclosure
The analysts contributing to this report do not hold any shares of Imperial Petroleum, Inc. (IPTM). Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research ("Beacon") certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. A principal of Beacon Equity Research is also a principal of Pasadena Capital Partners, an investor relations firm for IPTM which has received 400,000 restricted rule 144 shares directly from IPTM for services. Beacon expects to receive $18,000 from IPTM for a one-year enrollment in its research program. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
Anyone interested in receiving alerts regarding Imperial Petroleum, Inc. research should email members*beaconequityresearch.com with "IPTM" in the subject line.
SOURCE: Imperial Petroleum, Inc.
Beacon Equity Research Jeff Bishop, 469-252-3035 editor*beaconequityresearch.com www.beaconequityresearch.com or Imperial Petroleum, Inc. Jeffrey T. Wilson, 812-867-1433 investor*iptm.net
Copyright Business Wire 2006
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IPTM - IMPERIAL PETROLEUM (OTCBB) Date Open High Low Last Change Volume % Change 05/01/06 0.1550 0.3500 0.1500 0.3100 +0.1700 2694100 +121.43%
Composite Indicator -- Signal -- -- Strength -- -- Direction -- Trend Spotter (TM) Buy Maximum Strongest
Short Term Indicators 7 Day Average Directional Indicator Buy Maximum Strongest 10 - 8 Day Moving Average Hilo Channel Buy Maximum Strongest 20 Day Moving Average vs Price Buy Maximum Strongest 20 - 50 Day MACD Oscillator Buy Minimum Strongest 20 Day Bollinger Bands Buy Maximum Strongest
Short Term Indicators Average: 100% - Buy
Medium Term Indicators 40 Day Commodity Channel Index Buy Maximum Strongest 50 Day Moving Average vs Price Buy Maximum Strongest 20 - 100 Day MACD Oscillator Buy Average Strongest 50 Day Parabolic Time/Price Buy Maximum Strongest
Medium Term Indicators Average: 100% - Buy
Long Term Indicators 60 Day Commodity Channel Index Buy Maximum Strongest 100 Day Moving Average vs Price Buy Maximum Strongest 50 - 100 Day MACD Oscillator Buy Average Strongest
Long Term Indicators Average: 100% - Buy
Overall Average: 100% - Buy
-------------------- The difference between genius and stupidity is that genius has its limits
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Imperial Petroleum Closes Deal on Duke Mine
Business Wire via COMTEX
May 4, 2006 9:01:01 AM
EVANSVILLE, Ind., May 04, 2006 (BUSINESS WIRE) --
Imperial Petroleum, Inc. ("Imperial" or the "Company")(OTCBB:IPTM) announced today that it has closed the deal with ATLCC, Inc. to develop its Duke Gold Mine in southeastern Utah. ATLCC, Inc. has begun efforts to install a mining and processing plant capable of handling at least 100 tons of placer material each day for the recovery of fine gold with its goal to increase production as rapidly as possible. Imperial, through its mining subsidiary, Ridgepointe Mining Company, retained a ten percent net smelter royalty in the operations and will own a five percent equity stake in ATLCC, Inc. which has plans to go public. The net revenue to Ridgepointe from the Duke Mine operations is estimated to reach $2.8 million annually at peak production.
Imperial, through its subsidiaries and affiliates, is active in crude oil and natural gas production. Imperial is headquartered in Evansville, IN.
his press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
SOURCE: Imperial Petroleum, Inc.
Imperial Petroleum, Inc. Jeffrey T. Wilson, 812-867-1433 email: jtwilsonx1*aol.com
-------------------- The difference between genius and stupidity is that genius has its limits
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Imperial Petroleum Signs Biodiesel Deal Friday May 19, 4:31 pm ET
EVANSVILLE, Ind.--(BUSINESS WIRE)--May 19, 2006--Imperial Petroleum, Inc. ("Imperial" or the "Company")(OTCBB:IPTM - News) announced today that it has signed a Letter of Intent with Domestic Energy Partners ("DEP") of Spanish Fork, Utah to market biodiesel to petroleum refineries and other end users. Imperial's subsidiary, Hoosier Biodiesel Company, will sell up to 25 million gallons annually of biodiesel products manufactured by DEP using its proprietary process. Under the terms of the Agreement, which is subject to completion of a Definitive Agreement, Hoosier Biodiesel Company will reserve a delivery commitment of up to 25 million gallons annually from DEP, with the right to increase its commitment to 100 million gallons annually, with the payment of $2.5 million in cash and 1.5 million shares of IPTM stock. DEP will carry a non-recourse note for the balance of the biodiesel commitment that is convertible into IPTM stock at a price of $3.60 per share after giving effect to proposed four-for-one reverse split of the stock. In addition, Hoosier Biodiesel Company will have the right to construct one or more plants using the DEP process in the Midwest, and biodiesel sold from those plants will offset any volume delivery commitments between the parties. ADVERTISEMENT
The process developed by DEP is environmentally friendly, requires substantially less equipment and space than the traditional biodiesel manufacturing plants and is more cost effective. DEP is currently in production and has been using its own product for the last several years in its fleet of diesel cars. Hoosier Biodiesel Company expects its margins to be about $0.40 per gallon of product sold. The parties anticipate closing in July 2006 with first sales expected in October 2006.
Jeffrey T. Wilson, President of Imperial said, "We're very excited about the DEP process and our new arrangement with them. We have, as part of our technical support staff, expertise in the refinery business, to assist our biodiesel business. Our location in the farm belt and access to river transportation will provide additional opportunities to construct biodiesel plants in this area that can provide product at competitive prices to the Gulf Coast refineries. Although biodiesel use is much more common in Europe than in the United States, with the recent increases in fuel costs and new fuel legislation, the use of biodiesel as an alternative fuel or as a fuel additive is expected to increase tremendously. The DEP process offers a lower cost alternative than many other processes currently employed by the industry. Since DEP is already in production, there are no lengthy construction delays before products are available."
Imperial, through its subsidiaries and affiliates, is active in crude oil and natural gas production. Imperial is headquartered in Evansville, IN.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
For further information contact: Jeffrey T. Wilson, President (812-867-1433) or (email at jtwilsonx1*aol.com) or Jeff Bishop at IR Affiliates at (469-252-3035). The DEP website is located at www.betterbiodiesel.com.
Contact: Imperial Petroleum, Inc. Jeffrey T. Wilson, 812-867-1433 email: jtwilsonx1*aol.com OR IR Affiliates Jeff Bishop, 469-252-3035
-------------------- The difference between genius and stupidity is that genius has its limits
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Third Party Engineers have Estimated the Company’s Total Proven Reserves at Approximately 1.1 Million Barrels of Oil and 26.1 Bcf of Gas
Imperial Petroleum, Inc. (OTCBB: IPTM)
Imperial Petroleum, through its subsidiaries and affiliates, is active in crude oil and natural gas production.
IPTM is headquartered in Evansville, IN.
IPTM has ownership of oil and natural gas interests in approximately 200 wells acquired from Hillside Oil & Gas LLC, Warrior Resources, Inc. and Powder River Basin Gas Corp.
The Company currently operates some 140 wells in New Mexico, Texas, Mississippi and Louisiana with gross daily production of approximately 140 Bopd and 1.2 Mcfpd.
IPTM has been successful is repairing its oilfield infrastructure at two Louisiana fields – Bastian Bay and Coquille Bay, as both were damaged due to Hurricane Katrina.
The company expects Increased production from these 2 fields, due to the completed repairs, to realize an additional 1.8 million per year in cash flow based on current oil and gas prices.
posted
Company Deal with ATLCC, Inc. Covering Duke Gold Mine Operations Estimated to Generate Net Revenue Reaching $2.8 Million Annually at Peak Production
Imperial Petroleum, Inc. (OTCBB: IPTM) is a diversified energy and mineral mining company. The Company is engaged in the production and exploration of crude oil and natural gas in Oklahoma and Texas and mineral mining, with a particular emphasis on gold mining. The Company is the operator of the Duke Gold Mine in Utah.
IPTM has the luxury of having business operations in 3 essential and valuable commodities – oil, natural gas, and gold.
IPTM has closed its transaction with ATLCC, Inc.
The deal calls for ATLCC, Inc. to develop the Duke Gold Mine in Utah. ATLCC, Inc. has begun efforts to install a mining and processing plant capable of handling at least 100 tons of placer material each day for the recovery of fine gold with its goal to increase production as rapidly as possible. Imperial, through its mining subsidiary, Ridgepointe Mining Company, retained a ten percent net smelter royalty in the operations and will own a five percent equity stake in ATLCC, Inc. which has plans to go public. The net revenue to Ridgepointe from the Duke Mine operations is estimated to reach $2.8 million annually at peak production.
IPTM is following a stated corporate strategy by entering into this deal. With this transaction, IPTM will be able to re-focus its corporate objectives in the oil and gas business while receiving significant potential gold mining revenue annually.
-------------------- The difference between genius and stupidity is that genius has its limits
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The Company Anticipates Retiring $15.4 Million in Debt
Imperial Petroleum, Inc. (OTCBB: IPTM)
IPTM is focused on a core business strategy.
IPTM, through its subsidiaries and affiliates, is active in crude oil and natural gas production.
Imperial has executed a Purchase and Sales Agreement to sell $15.4 million of its oil and gas assets, subject to title and other adjustments.
The Company will use the proceeds of the sale, expected to close on or before June 30, 2006 to retire debt.
After the sale, this move should substantially lower the Company's debt by over 85% to approximately $2.6 million.
The Company plans to re-finance the remaining debt under a new facility and secured by the Company's retained oil and gas assets located in south Louisiana, south Texas, and the Company's royalty properties.
The Company will retain its workover rig located in Midland, Texas and will utilize the rig and crew to develop a well servicing business in that area.
Imperial's CEO said, "Upon completion of the sale of these assets, the Company's debt level will be much more manageable.
We will have a strong asset and cash flow base, compared to our debt level, from which to further our growth plans.
All of the repair work in South Louisiana will be completed soon, and as a result we should begin to generate positive results for our shareholders beginning with our fiscal year that starts on August 1.
-------------------- The difference between genius and stupidity is that genius has its limits
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just read the news bout bio-diesel deal and there is a comment that talks about the company doing a reverse split... did i read that corectly?
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"DEP will carry a non-recourse note for the balance of the biodiesel commitment that is convertible into IPTM stock at a price of $3.60 per share after giving effect to proposed four-for-one reverse split of the stock."
Yes, a reverse split appears to be in the works.
I am surprised IPTM has not carried more than a four cent up swing today. Perhaps this reverse split is turning away traders.
posted
Imperial Signs $12 Million Financing Agreement to Expand Biodiesel and Oil and Gas Operations
Imperial Petroleum, Inc. (OTCBB: IPTM)
EVANSVILLE, Ind.--(BUSINESS WIRE)--May 31, 2006--Imperial Petroleum, Inc. ("Imperial" or the "Company") (OTCBB:IPTM - News) announced today that it has signed an engagement agreement with a full service investment financial group providing a broad range of securities related services for raising $12 million through a private placement of a Convertible Debenture. The general terms of the Debenture include a conversion price at a 20% discount to the market with a floor price of $0.40 per share (prior to giving effect to a proposed four for one reverse split of the Company's common stock that is subject to shareholder approval) and an 9% coupon rate until converted, among other provisions. The funds will be used to (1.) retire the Company's remaining debt after the proposed sale and re-structuring of its current debt facility as previously announced; (2.) provide development capital for workovers of the oil and gas wells retained by the Company; (3.) fund the initial requirements of the biodiesel deal with Domestic Energy Partners and (4.) provide acquisition and working capital for additional growth opportunities in the biodiesel and traditional oil and gas sectors.
Jeffrey T. Wilson, President of Imperial said, "This financing will allow us to more aggressively pursue opportunities that we believe will drive our future growth plans both in the traditional oil and gas exploration and production sector and the emerging biofuels markets. We are extremely excited with the financial group who is participating in this financing as the underwriter since it will give our Company's story an audience in both the institutional and retail markets as we continue to grow."
Imperial, through its subsidiaries and affiliates, is active in crude oil and natural gas production. Imperial is headquartered in Evansville, IN.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
For further information contact: Jeffrey T. Wilson, President (812-867-1433) or (email at jtwilsonx1*aol.com) or Jeff Bishop at IR Affiliates at (469-252-3035). The DEP website is located at www.betterbiodiesel.com.
Contact:
Imperial Petroleum, Inc. Jeffrey T. Wilson, 812-867-1433 email: jtwilsonx1*aol.com
OR
IR Affiliates Jeff Bishop, 469-252-3035
Source: Imperial Petroleum, Inc.
-------------------- The difference between genius and stupidity is that genius has its limits
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