Imperial Completes Remedial Work on Texas & New Mexico Wells

Imperial Petroleum has completed most of the remedial work on its wells in New Mexico and Texas and are very pleased with the results. The company has increased its stabilized daily production by approximately 128 barrels of oil per day and 400,000 cubic feet of gas per day as a result of these efforts.

The work program is in its final stages on the company's properties in East Texas with only one well remaining and expect to see the results in that area shortly. As a result of both high oil and gas prices and a successful work program, the company has increased its revenues by 48% in February and are projected to increase an additional 43% in March as a result of the impact of the work already completed.