Imperial Resources, Inc. Green Tide oil recovery & sales update
Tuesday, Feb 12, 2013
AUSTIN, Texas, Feb. 11, 2013 /PRNewswire/ -- Imperial Resources, Inc. (OTCQB: IPRC) and its wholly owned subsidiary, Imperial Oil & Gas, Inc. (together the "Company", "Imperial") is pleased to announce an update on oil recovery and sales at its Green Tide Salt Water Disposal Facility ("Green Tide").
As previously announced, the first full truck load of recovered oil was sold on January 10, 2013. The Company is delighted to announce that a further truck load was sold on February 2, 2013 as a result of a substantially higher average % oil recovery during January compared to that previously achieved. There are a number of factors which may have contributed to this increased capture; including recent enhancements to the de-emulsifier injection system and/or the acceptance of water with higher oil content.
Although the % oil cut of accepted water for disposal is relatively small, oil sales are projected to form a material proportion of overall Green Tide revenues. Optimisation of systems and procedures will continue with the aim of reaching the highest possible oil recovery level, which is expected to be in the order of 0.25% to 0.5% of water disposed of by Green Tide.
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.
Source: Imperial Resources, Inc.
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