Imperial Resources, Inc.; Work-Over Rig Due at SWDF in Preparation for Disposal Well Hook Up
AUSTIN, Texas, June 20, 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 a work-over rig is due on site today, Wednesday June 20, 2012 at its largely rebuilt Green Tide Salt Water Disposal Facility ("SWDF").
The rig will undertake planned minor remedial work on the disposal well tubing and packer during the course of the next few days. Once this work has been completed, the wellbore will be connected to the SWDF plant in preparation for disposal testing.
Over the coming days in parallel with the above work a crew will set the pump stands in concrete in preparation for installation of the reconditioned and salvaged pumps. Installation of the pumps will begin as soon as possible thereafter. Final fibreglass repair work to the tanks is also scheduled to be completed at the same time. Electrical conduit has now been run to all tanks and programming of the pump control sensors and control system is in its final stages, installation being expected shortly.
An order has been placed for the installation of a lightning protection system, the Company having finalised the design. The installation, anticipated to be next week subject to weather and installer availability, is specified to meet National Fire Protection Association installation standard NFPA 780, Underwriters Laboratories installation requirement UL 96A, and Lightning Protection Institute quality standards. This system must be in place prior to the delivery of produced water for SWDF testing and commercial disposal operations.
The Company will begin testing the SWDF once the works are complete and, subject to successful testing, 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.
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