Northern Minerals & Exploration Ltd (NMEX) is an oil and gas exploration and development company that holds oil and gas properties as its primary assets. The company is in early-stage development, with a fiscal year ending July 31 and financial statements audited through July 31, 2025 (10-K filed 2025-11-17, accession 000143774925035266). NMEX carries a stockholders' deficit on its balance sheet as of July 31, 2025, and its shares trade below $5.00 per share, subjecting them to SEC penny stock rules under Section 15(g) and Rule 15g-9. The company has two directors, Noel Schaefer (COO, Secretary, and Director, appointed July 6, 2018) and Jose Berhane Tewolde Serrano (Director, appointed April 30, 2025), with Rachel Boulds serving as CFO since February 7, 2020. NMEX has disclosed material weaknesses in internal controls over financial reporting. No revenue figures, customer counts, or production volumes are disclosed in the available filing excerpts.

Revenue model

Not determinable from the available filing excerpts. The company holds oil and gas properties, suggesting an extraction-based revenue model, but no revenue figures or monetization details are disclosed in the excerpts.

Products and services

Oil and gas properties (as of July 31, 2025 balance sheet). Operations are subject to federal environmental regulations including the Clean Water Act, Safe Drinking Water Act, and Oil Pollution Act, indicating onshore oil and natural gas exploration and production activity.

Customers and end markets

Not disclosed in the available filing excerpts.

Value-chain role

Upstream oil and gas exploration and production. The company acts as an operator subject to drilling permits, environmental compliance, and spill prevention regulations, placing it at the exploration and extraction stage of the oil and gas value chain.

Geographic exposure

Not specified in the available filing excerpts. The company is subject to U.S. federal environmental regulations, indicating at least some U.S.-based operations.

Source: SEC 10-K, filed 2025-11-17

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