press release
Feb. 6, 2012, 8:30 a.m. EST
Imperial Resources, Inc.; SWDF Rebuild Progress
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AUSTIN, Texas, Feb. 6, 2012 /PRNewswire via COMTEX/ -- Imperial Resources,
Inc. /quotes/zigman/545841 IPRC
-21.58% and
its wholly owned subsidiary, Imperial Oil & Gas, Inc. (together the
"Company", "Imperial") announces that its Green Tide Salt Water Disposal
Facility ("SWDF") is in the process of being rebuilt following the lightning
strike and fire in November, 2011.
The profitable sale of the Company's land position in Oklahoma (with the
concurrent entry into a new and substantial Area of Mutual Interest targeting
the same formation) as announced on January 17, 2012, has permitted the Company
to apply funds to the repair of the SWDF.
No damage was caused to the newly completed well bore, wellhead, land and
roadway infrastructure which form the majority portion of the SWDF assets, along
with the value of the disposal permit.
Regarding the destroyed and damage equipment the Company has purchased
replacement tanks at an excellent price and is in the process of remediating and
re-grading the site prior to the arrival and installation of the tanks. The
damaged pumps will be repaired and / or replaced with the intention of opening
for business as soon as possible, so as to generate immediate cash flow to
support further improvements to the SWDF to maximise its disposal capacity.
Demand for disposal in the area continues to be very strong and the Company
is confident it can attract all the business it is able to handle once the SWDF
is operational.
About Imperial Resources, Inc.
Imperial Resources, Inc., through its wholly owned subsidiary, Imperial Oil
& Gas, Inc. has a highly focused, risk-averse strategy of building a
substantial portfolio of oil and gas assets through its access to niche, low
risk oil and gas opportunities in the onshore U.S. Imperial aims to exploit
projects which can deliver cash flows normally associated with higher risk
projects but without exposure to high risk failure rates.
To find out more about Imperial Resources, Inc. , visit our website at
www.imperialresourcesinc.com . Details of the Company's business, finances,
appointments and agreements can be found as part of the Company's continuous
public disclosure as a reporting issuer under the Securities Exchange Act of
1934 filed with the Securities and Exchange Commission's EDGAR database.
Forward-Looking Statements
Statements in this news release that are not statements of historical fact
are forward-looking statements, which are subject to certain risks and
uncertainties. Forward-looking statements can often be identified by words such
as "expects," "intends," "plans," "may," "could," "should," "anticipates",
"assumes", "likely," "believes" and words of similar import. Forward-looking
statements are based on current facts and analyses and other information that
are based on forecasts of future results, estimates of amounts not yet
determined and assumptions of management. Actual results may differ materially
from those expressed or implied by forward-looking statements due to a variety
of factors that may or may not be foreseeable or within the reasonable control
of the Company. Readers are cautioned not to place undue reliance on such
forward-looking statements. Additional information on risks and other factors
that may affect the business and financial results of the Company can be found
in filings of the Company with the U.S. Securities and Exchange Commission,
including without limitation under the caption "Risk Factors" in the Company's
Annual Report on Form 10-K filed on July 14, 2011. Except as otherwise required
by law, the Company disclaims any obligations or undertaking to publicly release
any updates or revisions to any forward-looking statement contained in this news
release to reflect any change in the Company's expectations with regard thereto
or any change in events, conditions or circumstances on which any such statement
is based.
Contact:
Rob Durbin, CEO
Telephone:
512 322-5740
http://www.imperialresourcesinc.com/pages/contact
SOURCE Imperial Resources, Inc.
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