Imperial Resources, Inc.; SWDF Commences Testing
AUSTIN, Texas, July 23, 2012 /PRNewswire/ -- Imperial Resources, Inc. (OTCBB: IPRC.OB, OTCQB: IPRC) and its wholly owned subsidiary, Imperial Oil & Gas, Inc. (together the "Company", "Imperial") is pleased to announce that full testing on the rebuilt Green Tide Salt Water Disposal Facility ("SWDF") will commence today.
The new control panel was installed as expected on July 18, 2012 and initial testing of the electronic depth sensors has been carried out successfully. The Company will now commence testing the general plumbing integrity as well as the operation of the transfer pumps upon completion of zero calibrating the tank depth sensors.
Water will be pumped into the tanks to test the sensors, the control panel and the emergency shut-offs. The Company intends to methodically isolate each tank and section of plumbing to test each individual element. Once the systems are online the various tank electronics will act as redundancy backup for the others.
Finally the computer system that manages the drop off stations valves and transaction recording, based on identifying codes inputted by disposal truck drivers, will be tested. Once testing has been completed, commercial operations will begin immediately.
Demand for water disposal remains strong and the Company is pleased to note a surprising amount of activity in the Barnett Shale despite the recent low gas prices. The Company is confident it can attract disposal business up to the full operational limit of the SWDF once it is functioning, which the Company believes will provide substantial cashflow.
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. (OTCBB: IPRC.OB), 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.
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.
Rob Durbin, CEO
Telephone: 512 322-5740
SOURCE Imperial Resources, Inc.
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