For new companies like NiMin Energy Corp (TSX: NNN), an oil and gas exploration company, the profit potential in California is certainly worth the effort in the area. As the fourth largest oil producer in the nation, California is the only one of the twenty-two oil-producing states without a levy on drillers.
NiMin Energy Corp. has working interest in the oil-rich region of Kern County, 130 miles north of Los Angeles. It’s an area that attracted giants of the industry such as Chevron and Occidental over the past century. “We are currently a small company and looking to grow through acquisition and development of new properties,” says Jon Wimbish, the company’s chief financial officer.
NiMin is hoping to gain an edge on its peers with patent-pending enhanced oil recovery (EOR) technology, Combined Miscible Drive (CMD), which combines the effects of both steam floods and carbon dioxide floods. To read the full article by Robert Ilich, go to page 60 of the upcoming digital issue of EQUITIES Magazine. Sign up for a free one-year subscription to EQUITIES Magazine.
NiMin Energy Corp. will be featured alongside Petroleum Development Corporation (NASDAQ: PETD), U.S. Energy Corp. (NASDAQ: USEG), China North East Petroleum Holdings Ltd (NYSE Amex: NEP) and GeoResources Inc. (NASDAQ: GEOI) in the October 2009 issue of EQUITIES Magazine.
To have your company featured in Companies On the Move, please contact EQUITIES Magazine at (310) 271-1700.
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Since 1951, EQUITIES has served both retail and institutional investors by examining industry trends, analyzing strategies and opportunities, and profiling financial leaders and emerging public companies. Its global audience increased dramatically after the launch of its European and digital versions, as well as its website, which provides free real-time market quotes and a free customizable, real-time portfolio-management interface. EQUITIES is also one of a select group of publications available on the Apple iPhone.
