Imperial Responds to Speculation about Withdraw of Russian Licenses

In response to press speculation this morning Imperial Energy states that no licenses have been withdrawn.

The statement issued by The Ministry of Natural Resources, Russian Federation, is materially misleading with significant factual inaccuracies.

Imperial rejects suggestions that it is behind on work at Nord Imperial. Other licenses referred to have been relinquished by the company two years ago due to lack of prospectivity.