Imperial Petroleum Inc. is a diverse energy resource company headquartered in Evansville, Indiana with satellite offices and contractors in key markets like nearby Middletown, as well as Austin, Texas and Tulsa, Oklahoma. The Company operates in the oil and gas sector via Texas-based IPT Oil Company and Double Eagle Petroleum Corp., as well as through Hillside Oil & Gas LLC in Louisiana (Double Eagle and Hillside are affiliates who retain their own bonding).

The Company has a diverse family of five wholly-owned subsidiaries and has seen revenues soar since the recent acquisition of e-Biofuels, LLC, an innovative biofuel producer which uses premium white grease (chicken fat) and waste grease for its feedstock instead of grains, showing positive earnings of $1.192M on revenues of $29.9M for the six-month period ending Jan. 31, 2011.

A recent report produced by Cole Business Development LLC projects a 15% gross profit margin ($9M annually) moving forward, with cash flow before the end of the year reaching $2.80 per share. If the current trend continues, and there is no reason to assume it will not according to this Cole report, 2011 EPS looks to be in the $0.12-0.15 range.

e-Biofuels has quite an operation and is incredibly well positioned as a domestic provider of biodiesel, currently selling fuel to some of the biggest domestic retail outlets and truck stops like the Pilot Flying J network of locations that is widely known among drivers and is a leading distributor of Bulk Diesel Exhaust Fluid (DEF) solutions. e-Biofuels also has the capacity to produce jet fuel and heating oil through existing facilities, as well as sell excess energy produced to the grid. The Cole report identifies these potential vectors as huge opportunities for growth and overall profitability, projecting an additional $0.05-0.10 cents per share if proper utilization is achieved and an upward range on the 2011 share price of $2.00 without even including oil and gas production from the Company’s Coquille Bay and Louisiana assets.

The Company has substantial tar sands production and mining interests, doing business through its other subsidiaries like The Rig Company and Arrakis Oil Recovery, LLC (formed in Feb. 2010), which was created to acquire and farm out a unique and patented process technology license for recovering bitumen from tar sands in an ecologically sustainable manner. This radical technology is perfect for both kinds of tar sands found in the US and Canada and the Company currently has an exclusive license to use the technology in Canada and has completed a development agreement with Clean Sands International Inc. which will target markets like Russia, Mexico, Argentina and Venezuela. This technology could revolutionize tar sands production dramatically and change the face of domestic production.

A pilot plant operation currently underway in the Canadian oil sands, in conjunction with the Company’s natural gas play in Kentucky and currently operating wells in Louisiana (4 BOPD, 34 Mmcfpd for year ended July 31, 2010), provides a solid structural framework for further growth.

A 75% net revenue interest in the company-owned and operated Coquille Bay production is a very nice feather in IPMN’s cap and projections indicate a PV-10 reserve base worth approximately $12.3M. The Cole report projects $1.3M in revenue on earnings of $750k ($0.03 cents per share) could be added should production meet quarterly targets.