Imperial Resources provided an operational update to investors on the company's oil and gas exploration and development program at a project in Oklahoma.
The company signed an agreement in January 2012 to establish an Area of Mutual Interest (AMI) with a third party. The AMI totals 144 square miles with the company holding a 90% working interest.
Imperial Resources is working with a geologist that has experience in Oklahoma to analyze the available properties within the AMI in order to accumulate the most productive acreage and plan a future development program.
The company owns a small interest in a producing well within the AMI and reported that the well produced approximately 360 barrels of oil and 850,000 cubic feet of natural gas per day at its peak. The well was producing 150 barrels of oil and 650,000 cubic feet of natural gas per day, as of February 2012.
In late April 2012, Imperial Resources completed the construction of all major ground works at the Green Tide Salt Water Disposal Facility. The company plans to install pipe work fitting at the site and electrical connections shortly. The facility will be used to dispose of drilling fluid and other waste from nearby wells in the area.
For more information on the company, go to www.imperialresourcesinc.com
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