Imperial Resources, Inc.; SWDF Lightning Protection Installation Underway
AUSTIN, Texas, June 28, 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 Imperial has commenced installation of a full lightning protection system at its largely rebuilt Green Tide Salt Water Disposal Facility ("SWDF").
The installation is estimated to take three to four days, subject to weather conditions, which currently look good. The work is anticipated to be completed this week in the run up to commencing a full test of the rebuilt SWDF. The lighting protection system is designed to divert and ground a lightning strike and also includes the grounding of all of the fibreglass tanks to dissipate static build up.
The remainder of the completion work is also underway, transfer pumps have been installed and are in the process of being plumbed in along with fitting of the tank depth sensors and commissioning of the computer control system. Subject to there being no unexpected delays due to weather, contractors or materials delivery, the Company anticipates commencing a full test of the SWDF next week, once all works are complete. Subject to successful testing, Imperial looks forward to commencing commercial operations.
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.
The on-going work at SWDF can be viewed at the updated photo gallery on the Company's website at: http://www.imperialresourcesinc.com/pages/projects?id=28.
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 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.
Rob Durbin, CEO
SOURCE Imperial Resources, Inc.