Imperial Commissions Production Facilities at Snezhnoye

Imperial Energy provides a further positive update on its operations in Tomsk Region, Western Siberia.

Snezhnoye Field, Block 77

Imperial Energy says that following successful testing and commissioning of its new US$15million production facilities at Snezhnoye, those facilities and the newly built 49km long pipeline to Zavyalova are currently processing all production from the field. Operations are on a functional testing basis in preparation for full implementation of the processing and transport system to Transneft on completion of the Zavyalova custody transfer facility at the end of the summer. This is a major milestone in Imperial’s infrastructure and transport construction plans for 2007.

In the meantime work continues on getting ready for commissioning the Maiskoye field processing facilities and pipeline.

Nulginskoye 403 well, Block 85

Imperial would further like to announce the spudding of the exploration well Nulginskoye 403 on Block 85. The well is currently drilling at a depth of 1250 m.

Christopher Hopkinson, Chief Executive, commented:

“We are pleased with the progress we are making. All other drilling activity on our fields and exploration prospects is running in line with expectations and in some cases ahead of schedule. We are still on track for our key production targets and further material progress in Q4 2007.”