AUSTIN, Texas, March 7, 2012 /PRNewswire/ -- Imperial Resources, Inc. (OTCBB: IPRC) and its wholly owned subsidiary, Imperial Oil & Gas, Inc. (together the "Company", "Imperial") is pleased to announce an update on the clean-up and rebuild of its Green Tide Salt Water Disposal Facility ("SWDF").
The Company is delighted to announce that it has now secured additional funding to be applied to the rebuild of the facility.
Significant progress has been made on the preparation of the site for the rebuild of the above ground facilities. Replacement soil will be taken from other locations on the 41 acre site. Imperial has purchased the necessary tanks at an excellent price and is having the transfer pumps rebuilt. As soon as the site is approved and dirt work completed, the replacement equipment will be delivered to the site and the rebuild will continue. The intention is to bring the facility back into commercial operations as soon as possible to capitalize on demand for water disposal from the huge number of gas wells operating locally in the Barnett Shale.
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.
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.