- CEO
- Noel Schaefer
- Full Time Employees
- 3
- Sector
- Basic Materials
- Industry
- Other Precious Metals
- Address
- 881 West State Road Pleasant Grove UT United States of America 84062
- IPO Date
- Sep 6, 2012
- Business
- Northern Minerals & Exploration Ltd. operates as an emerging natural resource company focused on oil and gas production and energy-related assets in the United States; it engages in the production of oil and natural gas from working interests in producing wells in Oklahoma and previously central Texas, including interests in 14 natural gas wells acquired through Lost Creek Acquisitions LLC and the J.E. Richey Lease project; exploration activities target gold and silver in northern Nevada, though currently dormant, with historical interests in 58 unpatented mining claims in Esmeralda County. The company holds oil and gas properties valued at approximately $151,456 as of July 31, 2025, generating first revenues of $8,634 from natural gas sales in fiscal 2025. Incorporated in 2006 under Nevada law and formerly known as Punchline Resources Ltd. until its name change in August 2013, Northern Minerals & Exploration Ltd. maintains headquarters at 881 West State Road, Pleasant Grove, Utah 84062, and conducts operations through wholly owned subsidiaries Kathis Energy LLC and ENMEX Operations LLC, with no current employees and key executives including CEO Ivan Webb, COO Noel Schaefer, and CFO Rachel Boulds serving as consultants. Recent developments include the April 2025 acquisition of rights to Phase I Wells from Lost Creek Acquisitions LLC via issuance of 4,000,000 common shares, marking entry into initial revenue generation with a gross margin of $264; additional purchases of oil and gas rights for $25,000 during fiscal 2025; financing through related-party loans up to $500,000 (with $135,000 drawn), third-party notes including a $85,000 promissory note to Golden Sands Exploration Inc. at 6% interest maturing June 2026, and equity issuances such as 100,000 shares for services valued at $19,000 and director purchases totaling $35,000; alongside a net loss of $383,612 for fiscal 2025 driven by impairments of $140,744 on oil and gas properties, elevated professional fees of $81,770, and ongoing going concern uncertainties noted by auditors due to negative working capital and accumulated deficits.