Imperial Resources, Inc.; Oklahoma Resource Prospect Leasing

AUSTIN, Texas, July 11, 2011 /PRNewswire/ -- Imperial Resources, Inc. (OTCBB: IPRC) and its wholly owned subsidiary, Imperial Oil & Gas, Inc. (together the "Company", "Imperial") is pleased to announce that the leasing program on its planned transformational Oklahoma Resource Prospect is well underway.

Oklahoma

The Company expects to secure all of the necessary leases targeted over an initial 5,000 acre area. To date 1096.45 acres have been leased. Additional material acreage is expected to be leased shortly. Well locations are planned on 320 acre spacing.

This Oklahoma acreage secured to date has added a substantial amount of Proved Undeveloped Reserves to the Company's balance sheet. These reserve assets are expected to increase dramatically as the balance of the acreage is acquired.

The Company expects to obtain a spud date for a well in the same blanket formation as the Oklahoma Resource Prospect shortly. Imperial has taken a nominal interest in this well to gain access to the stimulation and completion procedures to be used, with a view to applying the same or similar techniques in the Oklahoma Resource Prospect. An update will be provided once a spud date is set.

The Oklahoma Resource Prospect is one of two key projects identified as transformational for Imperial (the other being the Company's Salt Water Disposal Facility, which is planned to be re-opened as soon as possible, subject to the deepening of the disposal well and equipment availability to do so).

Financing

In addition to a subscription made for $500,000 as part of a Securities Purchase Agreement entered into on December 31, 2010 the Company received an additional subscription for $150,000 on July 8, 2011. The funds are expected to be mainly applied to additional leasing operations in the Oklahoma Resource Prospect.

About Imperial Resources, Inc.

Imperial Resources, Inc., through its wholly owned subsidiary, Imperial Oil & Gas, Inc. has a highly focused, risk-averse strategy of building a substantial portfolio of oil and gas assets through its access to niche, low risk oil and gas opportunities in the onshore U.S. Imperial aims to exploit projects which can deliver cash flows normally associated with higher risk projects but without exposure to high risk failure rates.

To find out more about Imperial Resources, Inc. (OTCBB: IPRC.OB), visit our website at www.imperialresourcesinc.com. Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's EDGAR database.

Forward-Looking Statements

Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties.  Forward-looking statements can often be identified by words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "assumes," "likely," "believes" and words of similar import.  Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management.  Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company.  Readers are cautioned not to place undue reliance on such forward-looking statements.  Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed on July 9, 2010.  Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Contact:

Rob Durbin, CEO

Telephone:

512 322-5740

http://www.imperialresourcesinc.com/pages/contact

SOURCE Imperial Resources, Inc.

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