The company anticipates that recoverable reserves are approximately 32,455 gross barrels of oil (22,231 net BO).
The project is rated as a P50 or 2P classification (at least a 50% probability that the estimated reserves will be recovered).
The company said that capital expense is expected to be less than $300,000 if the re-entry of the existing wellbore goes to plan.
The company expects that preparation operations on the wellbore will commence this week.
Imperial believes that the potential cashflow from Nunnelly #1, if successfully completed and put on production, will provide useful revenues as the company progresses, in concert, its planned transformational Oklahoma Resource play.
