Imperial Reports Successful Pressure Tests on Russian Pipelines

Imperial Energy Corp. PLC on Friday reported that its recently laid Russian pipelines have been successfully pressure-tested and are one step closer to beginning operations.

Oil produced from the Snezhnaya and Maiskaya fields is set to begin flowing into the 49-km Snezhnaya-Zavyalovo pipeline and the 159-km Maiskaya-Festivalnaya-Luginetskoye pipeline, respectively, in July 2007.

Imperial Energy is an independent oil exploration and production company listed on the Main Market of the London Stock Exchange with operations in the Russian Federation. The Company is targeting 10,000 bopd production by end of 2007, 25,000 bopd by the end of 2008, and 35,000 bopd by the end of 2009. Imperial has an extensive program in 2007 including some 30 production, appraisal wells and exploration wells, the completion of the construction of 208km of pipeline, oil processing facilities and the development of its own rig company.