The objectives and duties of the New Mexico petroleum recovery research center shall be as follows:
A. to engage in theoretical and practical research into the recovery of petroleum and other energy resources;
B. to disseminate the knowledge acquired;
C. to assist, in all legal ways, persons and entities in the state in their efforts to effect additional recovery of petroleum and other energy resources from the state;
D. to perform any and all tasks in the area of petroleum recovery and other energy research as directed by the board of regents of the New Mexico institute of mining and technology; and
E. to cooperate with all other state and federal agencies as may be beneficial in carrying out the work of the New Mexico petroleum recovery research center.