History
A Nevada gold shell that kept taking on and defaulting on mining options, then diversified into Texas oil and gas and, in 2025, bought Oklahoma gas wells.
2012-2014: A shell turns to Nevada gold
The company began as Punchline Entertainment, a shell, and was renamed Punchline Resources Ltd. in 2012. In September 2012 it leased the Empress Property, 27 unpatented gold claims in Esmeralda County, Nevada, from MinQuest for 20 years, at $20,000 a year plus work commitments rising to $650,000 a year. The same month its president, Ramzan Savji, paid $30,000 for 60% control of the company. Days later it agreed an option to earn 70% of the nearby Empress and Winnemucca Mountain claims from AHL Holdings and Golden Sands Exploration, which required $1.7 million in staged payments through 2016 and at least $4 million of exploration spending.
The payments proved hard to meet. In August 2013 the option was renegotiated: the available interest rose to 80%, but $1 million of payments slid to the end of 2017.
2014-2017: Texas oil and gas, and the Nevada loss
In July 2014 the company became Northern Minerals & Exploration Ltd. and moved into Texas oil and gas. A farm-out with Grasshoppers Unlimited gave it 75% and 60% working interests in two Callahan County leases, for roughly $340,000 in cash, stock and drilling commitments. In November 2014 the Winnemucca option was restated again, pushing cash payments and exploration milestones out to 2018 and share issuances to 2016. Later that month a second farm-out, with Cooper Basin Oil & Gas, gave it a 67.5% interest in three equipped Coleman County wells that it had to re-work or re-complete, for about $335,000.
In September 2017 the structure gave way. The company defaulted on and lost the Winnemucca option and let both Callahan County leases expire unused. It raised only $100,000 in a private placement to cover liabilities and catch up on late SEC filings, keeping a 25% interest in the Concho Richey #1 well, the Olson lease and the Guy Ranch lease.
2018-2026: Retries and Oklahoma gas
The company returned to Winnemucca with the same optionors. A 2018 option lapsed after a missed payment, and a new one was signed in March 2019. Nothing in the record shows it succeeding. The years after were quiet, with small quarterly losses and late filings.
In April and May 2025 the company bought working interests in 14 producing gas wells on nine Oklahoma leases from Lost Creek Acquisitions for $293,000, paid as $25,000 cash plus 4 million restricted shares. A performance clawback lets it unwind the deal if the wells miss a modest profit threshold. Director Victor Miranda resigned and Jose Serrano replaced him. In June 2026 it signed a memorandum of understanding for a small further Oklahoma interest in Garvin County from R.A. Miller Energy. As of August 2026 it was a thinly capitalised OTC Pink company with about 111.5 million shares, small quarterly losses and continuing late-filing notices.
Written from the 9 story beats below (2012 to 12 May 2025), which come from the company's own announcements and filings.