Imperial to Put Ok. Test Well on Production

Imperial 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 will shortly be put onto production. The horizontal well has been successfully drilled, perforated, fractured and completed.

In line with the Company's conservative strategy, Imperial took a nominal position in the Test Well which has now been stimulated using the new fracture protocol. The position gives Imperial partner level access to the results of the new method at minimal risk, with an eye to the Company using the same techniques on its Oklahoma resource play position in conjunction with the same industry partner.

Imperial's partner/operator has successfully completed a multi stage frac on the well and the surface production equipment is in place. The tank battery, gas meter and compressor have now been set and the surface equipment and production piping is in the process of being tied in. Production into the sales line is expected to begin imminently.

Imperial looks forward to assessing the results from the Test Well. The frac method is anticipated to be very effective and highly applicable to Imperial's targeted position in its Oklahoma resource play, which is seen 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).