Imperial Petroleum, Inc. (fka IPMN)

[MikeDDKing]

Imperial Announces Record Biodiesel Sales of $106 Million
On Monday September 12, 2011, 9:00 am

EVANSVILLE, Ind.--(BUSINESS WIRE)-- Imperial Petroleum, Inc. (OTCQX: IPMN) announced today that its wholly-owned subsidiary, e-Biofuels, LLC, produced and sold approximately 26 million gallons of transportation biodiesel in the Company’s most recent fiscal year ending July 31, 2011 resulting in revenues of approximately $106 million.

Jeffrey T. Wilson, President of Imperial said, “We’re very excited about the Company’s growth prospects. As a result of the turnaround of the biodiesel operations and robust demand for the product created by the RFS2 (Renewable Fuel Standard) our Company is set to experience built-in revenue growth for fiscal 2012 based on a full year of operation at plant capacity. At the Middletown, Indiana facility’s current production rates, the Company is on pace to produce in excess of 34 million gallons of fuel in fiscal 2012 or an annual increase of about 30%.

“In the fourth quarter of fiscal 2011 we settled or resolved all of the past vendor and litigation issues that had faced e-Biofuels at the time of its acquisition by the Company, we extended our credit facility and we can now focus on our efforts to expand operations in both biofuels and oil sand production and refinance of the Company’s debt. We are excited about the opportunity to share our unique story with the investment community at the Rodman & Renshaw Global Investment Conference in New York City.”

About Imperial Petroleum

Imperial Petroleum, Inc. is a diversified energy company headquartered in Evansville, Indiana. The Company is engaged in three principal areas of energy production: (i.) biodiesel and biofuels production; (ii.) traditional oil and gas exploration and production and (iii.) non-traditional oil production of heavy oil from mineable tar sands. For more information, visit the Imperial Petroleum corporate web site at: www.imperialpetroleuminc.com.

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.

Contact:

Imperial Petroleum Inc.’s Investor Relations:
Wolfe Axelrod Weinberger Associates, LLC
Stephen D. Axelrod, CFA/Adam Lowensteiner
212-370-4500, 212-370-4505