Imperial Resources, Inc.; SWDF Rebuild Progress Update
11 Apr, 2012, 08:30 ET
AUSTIN, Texas, April 11, 2012 /PRNewswire/ -- Imperial Resources, Inc. (OTCBB: IPRC) and its wholly owned subsidiary, Imperial Oil & Gas, Inc. (together the "Company", "Imperial") is pleased to announce that the work to repair and replace the damage done to the surface facility as a result of a lightning strike on November 8, 2011 continues at its Green Tide Salt Water Disposal Facility ("SWDF").
The necessary clean up work was completed earlier this month and approved by the relevant regulatory authorities. Heavy construction equipment has been mobilized onto the site to carry out the ground works. During the course of this week an elevated pad will be rebuilt on the old location for the replacement storage tanks and ancillary equipment. Once completed the tanks will be trucked in, set in position and replacement pipework fitted.
On completion of this construction work, the SWDF will be rewired and a new computer control system installed. Refurbished transfer pumps will be reinstalled and the tanks plumbed to the main pumps. A new driver's shed will be provided where disposal truck drivers can enter the information necessary for automated billing and regulatory reporting, and permit access to the disposal input stations. Lightning protection will also be installed during this phase of the rebuild process.
Imperial expects the re-build of the site 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.
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