Imperial Resources, Inc.; Green Tide Extends Opening Hours
AUSTIN, Texas, March 13, 2013
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
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
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
Rob Durbin, CEO
SOURCE Imperial Resources, Inc.
Press spacebar to pause and continue. Press esc to stop.