The PennyShac

[ToshacH]

I think this could be a keeper, oil and Gas and growth:

Imperial Announces Third Quarter Results


Imperial Petroleum, Inc. ("Imperial" or
the"Company")(OTCBB Symbol:IPTM) announced its unaudited results for
the third quarter ending April 30, 2004. The Company reported revenue
for the quarter of $685,350; an increase of 449% over the previous
quarter ending January 31, 2004. The Company reported positive income
from operations of $252,903 for the most recent quarter compared to
previous losses. The Company reported a net loss of $940,618 for the
quarter or $0.025 per share, which was attributed primarily to
expenses associated with the remedial workover efforts during the
quarter.
Jeffrey T. Wilson, President of Imperial said "We expect to
complete our remedial work program prior to our fiscal year-end of
July 31, 2004 and as a result will have further expenses associated
with the program that will affect earnings, however our cash flow is
strong and has been growing month-to-month as a result of our efforts.
Fiscal 2004 results include the costs associated with our acquisition
efforts to date and we expect fiscal 2005 beginning in August 2004 to
reflect our continued trend toward positive earnings. Based upon the
most recent quarter, our annualized cash flow (income from operations
before interest and non-cash depreciation, depletion and amortization)
should approach approximately $1.5 million. We are extremely pleased
with our results thus far in the growth of the Company and the
development of our business plan and look forward to a positive fiscal
2005."
Imperial, through its subsidiaries and affiliates, is active in
crude oil and natural gas production and gold mining. 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.