Net assets increase by 195% in the first half of 2008, compared to $323.2 million in the same period in 2007, to $952.8 million.
Imperial has also achieved its first ever gross profit, of $8.3 million, in the first half of 2008; with operating losses at $7.8 million, an improvement of 57% compared to the first half of 2007.
Peter Levine, chairman of Imperial Energy, said: The first half of 2008 has been a significant period for Imperial. Operationally, we have addressed our earlier production issues and with oil now flowing through our third new pipeline we are rapidly increasing production. With funding now in place and encouraging new results from Kiev Eganskoye, we are confident of delivering on our objectives.
