Imperial Petroleum is unusual as an OTC-traded energy company. Unlike many such companies, Imperial is profitable, driving impressive moves in share price. Much of this comes from the company’s diversity and the ability of its management team to recognize and take advantage of unique opportunities.
One of those opportunities came in May of last year, when Imperial acquired e-Biofuels, LLC, a biodiesel producer located in Middletown, Indiana. E-Biofuels uses what is called white grease (basically chicken fat) along with soybean oil as a resource for the production of biodiesel. Biodiesel use and production results in roughly 78% less CO2 emissions compared to petroleum diesel. While many biodiesel plants around the country have come and gone, Imperial, through some careful restructuring, has managed to grow biodiesel sales at the company, and e-Biofuels revenues for fiscal 2011 are now expected to exceed $60 million, with a backlog of buyers.
But e-Biofuels is only one of several active wholly-owned subsidiaries:
• Arrakis Oil Recovery, LLC, formed to own and operate a technology license involving a highly efficient process for the recovery of bitumen from oil sands
• Hoosier Biodiesel, developing technologies to produce environmentally superior renewable boiler fuels and biodiesel processes
• Ridgepointe Mining, owner of mining claims in southeastern Utah for the development of gold reserves
• The Rig Company, providing rig equipment and services
In addition, Imperial operates in the oil and gas business under the names of IPT Oil Company and Double Eagle Petroleum Corporation in Texas, and Hillside Oil & Gas LLC in Louisiana. Double Eagle and Hillside are Imperial affiliates. Imperial operated 18 oil and gas wells in Louisiana, and owns an overriding royalty interest in Kentucky, as well as the rights to several inactive gas wells as part of its New Albany Shale play.
For additional information, visit the company’s website at www.ImperialPetroleumInc.com