Imperial Terminates Apollo Acquisition

Imperial Petroleum has terminated the acquisition of certain oil ad gas assets from Apollo Resources International, Inc. and subsidiaries.

Jeffrey T. Wilson, President of Imperial, said, "Apollo was not able to provide clear title to the assets that were the subject of the purchase agreement and has not been able to overcome the legal issues from its creditors in order to close the sale, so we have decided to move on."

Imperial, through its subsidiaries and affiliates, is active in crude oil and natural gas production and the biofuels business. Imperial is headquartered in Evansville, IN.