Lafayette Energy Corp (LEC) engages in oil and gas exploration and production, focusing on acquiring, funding, and developing crude oil assets, primarily heavy oil and bitumen resources using down-hole heaters and advanced extraction techniques; it holds net interests in approximately 2,688 acres in the Uinta Basin of eastern Utah targeting the Rimrock and Asphalt Ridge tar-sand zones, and options to acquire leases covering about 1,487 gross acres in the Imperial Parish Fields of south-central Louisiana. The company offers exploration, drilling, completion, and production services on these unconventional reservoirs, including vertical wells with thermal recovery methods to mobilize extra-heavy oil; it operates no revenue-generating assets to date but has commenced initial production testing from two Uinta Basin wells equipped with down-hole heating systems. Founded in 2022 and headquartered in Woods Cross, Utah, with additional addresses in Denver, Colorado, Lafayette Energy targets independent operators, investors, and energy markets in the United States, particularly Utah and Louisiana. Recent developments include spudding the HSO 8-4 and HSO 2-4 wells in May 2024, producing approximately 140 barrels of bitumen through December 2024 amid heater challenges and water extraction phases, with full commercial production expected by early 2025; in November 2023, it entered a Leasehold Acquisition and Development Option Agreement with Heavy Sweet Oil LLC for up to 30% working interest in 960 acres of Asphalt Ridge leases, issuing restricted common stock that has fully vested following a subsequent Farm-In Agreement, alongside pursuing a firm commitment IPO of 2,500,000 common shares on the NYSE American as of late 2024 filings.