Imperial's Ok. Well Reaches TD

Imperial Resources announced that a well in which Imperial owns a nominal interest ("Test Well"), targeting the same blanket formation as the Company's key Oklahoma resource play is at final total depth and logs have been run.

Imperial's partner/operator is now circulating the fluids through the well to clean it out in preparation for casing. Following casing the well will be cemented and perforated. The fracture stimulation will be completed as soon as possible after the well is cemented. Flow back will commence immediately thereafter. Assuming all goes to plan the well will be put online and production will begin immediately.

In line with the Company's conservative strategy Imperial took a nominal position in the Test Well in the first of these wells to be stimulated using a new fracture protocol. The position gives Imperial partner level access to the results of the new methods at minimal risk, with an eye to the Company using the same techniques on its Oklahoma resource play position along with the same industry partner.

Imperial is confident the method will prove very effective and assist in confirming Imperial's targeted position in the Oklahoma resource play as a potential "Company Maker" for Imperial.

The Oklahoma resource play is one of two key projects identified as transformational for Imperial (the other being the Company's SWDF project).