quote:Originally posted by matto: welcome paul just beare and dd everything ceo are nuts!!
Hey Matto Thanks for the welcome. I had hope to bring in a few stock picks, but its not easy finding a penny with a future. I just started going through the pink sheets starting in the A's and didn't get very far. Most are dogs, I did find something of interest though on a stock at a low. Its Advanced Nanotech. AVNA.ob. Ck it out. btw what does "ceo are nuts" mean...
Paul
-------------------- Do not invest on any of my suggestions
IP: Logged |
posted
News out and still this thing doesn't move! COME ON!
Imperial Petroleum Announces Successful Workovers By Business Wire Last Updated: 04/17 10:32AM
EVANSVILLE, Ind.--April 17, 2006--Imperial Petroleum, Inc. ("Imperial" or the "Company") (OTCBB:IPTM) announced today that it completed its workover efforts on its Bastian Bay field. The Company successfully jetted water from the well with coiled tubing and tested the well at an approximate rate of 440 mcf per day on a 14/64ths choke. The well is expected to be turned to sales within two weeks when repairs are completed to the sales platform operated by a third party. Additional improvement in the producing rate is expected over time as the well continues to clean itself up. The Company owns an 82% working interest in the field that has been shut down since Hurricane Katrina caused extensive damage to the sales platform. In other work, the Company is restoring production to its Coquille Bay field in south Louisiana where repairs necessitated by the hurricane are expected to be complete and production restored by the end of May. The Company owns a 40% working interest in the field and expects production to be restored to its pre-hurricane rates of 75 bopd and 800 mcfpd. At the successful conclusion of this work effort, the Company should realize an additional $1.8 million per year in cash flow based on current oil and gas prices.
Imperial, through its subsidiaries and affiliates, is active in crude oil and natural gas production. Imperial is headquartered in Evansville, IN.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Contacts Imperial Petroleum, Inc. Jeffrey T. Wilson, 812-867-1433 email: jtwilsonx1*aol.com
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
