Imperial Petroleum, Inc. (OTCBB:IPMN) announced that it had positive earnings of $689,372 for its first quarter ending October 31, 2010 or approximately $0.03/share for the quarter on revenues of $15.9 million compared to a net loss of $0.015/share on minimal revenues for the same quarter a year earlier.

?Our biofuels operations have continued to increase since the acquisition of e-Biofuels in May 2010 and our current efforts are focused on the application of new technology to further reduce feedstock costs and operating expenses and enhance margins. In addition, we have secured new customers to diversify our sales portfolio,? said Jeffrey T. Wilson, President of Imperial. ?In our oil and gas operations, we are working to complete our License Agreement on our oil sands recovery unit which will provide us with access to funding of up to $6.6 million to construct and install our first unit, expected sometime next summer. We are continuing our efforts to bring our existing oil and gas operations up to full production and continue to work to close our financing initiatives to provide new growth capital for the Company.?

Imperial is an energy company headquartered in Evansville, Indiana.

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.

Imperial Petroleum, Inc.
Jeffrey T. Wilson, CEO, 812-867-1433
Fax 812-867-1678
email: jtwilsonx1@aol.com