AUSTIN, Texas, March 13, 2013 /PRNewswire/ -- Imperial
Resources, Inc. (OTCQB: IPRC) and its wholly owned subsidiary,
Imperial Oil & Gas, Inc. (together the "Company", "Imperial")
is pleased to announce that opening hours have now been extended at
its Green Tide Salt Water Disposal Facility ("Green Tide").
In response to demand, Green Tide is now operating between the
hours of 07:00 and 23:00, seven days per week. Green Tide has
recruited two additional staff to service these extended hours of
delivery. The Company expects that this will result in increased
revenue from significantly higher levels of water disposal and to
increase the amount of oil capture and consequent oil sales. In
parallel, subject to securing the necessary finance, a number of
upgrades are expected to be made to the plant to facilitate even
higher disposal rates, combined with an increase in marketing
effort.
In addition to extending hours and receiving additional trucks,
the evening personnel permit Green Tide to pump down-hole late into
the evening, thereby maximising storage capacity available in the
tanks in the morning of the following day. Mornings are generally
the busiest times for truck deliveries, so having this tank
capacity at the beginning of the day maximizes intake
capability. Green Tide is delighted that this system appears
to have resulted in its two best days to date, on consecutive days,
last week. The Company also notes that average daily load
counts have risen with no increase in marketing effort, other than
making truck dispatchers aware of the extended hours.
Repairs have also now been completed to the second disposal pump
which was damaged in the lightning strike of October 2011. The pump is now operational and
will be used as a back-up prior to the installation of a
recirculating pressure reduction line that will permit the second
pump to operate in concert with the first to further increase
disposal rates. The second tanker offloading bay is now also fully
operational and in use.
Robert Durbin, CEO, said;
"It's not been easy, on a limited budget, getting things running
like this since the lightning strike but, with disposal and oil
recovery rates now looking much better, Green Tide is now
delivering for us, and there is scope for further
optimization."
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. (OTCQB: IPRC),
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.
Forward-Looking Statements
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 16, 2012. 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.
Contact:
Rob Durbin, CEO
Telephone:
512 322-5740
http://www.imperialresourcesinc.com/pages/contact
SOURCE Imperial Resources, Inc.
