Imperial Resources, Inc.; SWDF Rebuild in Final Stage
AUSTIN, Texas, May 16, 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 the rebuild work at its Green Tide Salt Water Disposal Facility ("SWDF") is on track and in its final stage.
The replacement gun barrel tank, required for the recovery of oil for sale from disposal water, is now in place. Gangways have been fitted on all tanks on site, leaving just two portable frac tanks to be installed to complete the tank battery. Once these tanks are delivered, they and the oil storage tank will require some remedial fibreglass and welding work prior to plumbing them in. Bids have been received for the plumbing of all tanks and Imperial is currently soliciting bids for the plumbing materials.
Electrical work is progressing and site lighting has been restored. The surviving conduit and wiring has been tested with no problems found. Final design of the new wiring conduit to the transfer pumps has been completed and this is expected to be installed this week, weather permitting. Pump control sensors for the various tanks are being priced and compatibility checked, and wiring for those sensors is expected to commence as soon as the final instrumentation choice is made.
The Company's website has been updated to include a photo gallery of the on-going SWDF work which can be viewed at http://www.imperialresourcesinc.com/pages/projects?id=28.
Imperial expects the SWDF re-build to be completed in the second quarter calendar 2012. Demand for disposal in the area continues to be very strong. 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 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.