AUSTIN, Texas, Nov. 21, 2012 /PRNewswire/ -- Imperial Resources,
Inc. (OTCQB: IPRC) and its wholly owned subsidiary, Imperial Oil
& Gas, Inc. (together the "Company", "Imperial") is pleased to
announce that the second offloading bay at its Green Tide Disposal
Facility ("Green Tide") is now operational.
The offloading bay has been immediately put into operation to
handle traffic more effectively and to reduce instances of
queuing.
The Company estimates that an average oil cut (oil recovered
from the delivered disposal water) of 0.25% has been achieved to
date, directly in line with expectations. This oil cut has been
achieved sooner than expected despite the requirement for the
formation of an oil blanket in the gun barrel tank, essential for
the capture of oil, which takes time. In an on-going optimisation
of Green Tide, the Company also expects to pursue additional
initiatives to improve oil recovery; the Company plans to modify
the gun barrel tank and the chemical injection site to enhance oil
separation and capture relative to storage time. Sales of recovered
oil are expected to provide valuable revenue to Green Tide.
The Oklahoma resource play and
Green Tide Water Disposal are two key projects identified as
transformational for Imperial.
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. (OTCQB: IPRC),
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 16, 2012. 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.
