On 4 September 2007 Imperial announced a successful identification of potentially substantial oil deposits as a result of the exploration well North Chertinalinskoye – 403, Block 70.
This well has been satisfactorily tested and sufficient information obtained so that application for registration of Russian Registered Reserves for this field can be made in November 2007. There are currently no registered reserves for this field.
Testing of other exploration wells is continuing as well as drilling of new exploration wells scheduled to be completed this year. Further announcements will be made at the appropriate time and the company continues to register its reserves under the GKZ classification.
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