Imperial Petroleum, Inc. (OTCBB: IPMN) announced that it has closed the acquisition of a 97.5% interest in the natural gas pipeline that services its Coquille Bay field in Louisiana, acquired a 97.5% interest in the transportation agreements governing oil and gas sales from the field and purchased an additional 26% working interest in the field in exchange for the issuance of 1,290,669 shares of the Company's restricted common stock.

The President of Imperial, Jeffrey T. Wilson said, ?The purchase of the pipeline and transportation agreement eliminates a gathering fee associated with the sale of crude oil and natural gas for the Company's interest equal to $3.00/bbl and $1.00/mcf over the life of the field and gives the Company control of the physical pipeline. In addition we purchased additional interests to consolidate our position in the production assets. We are returning the field to full production this week and expect to be producing at 70-100 Bopd and 100-200 mcfpd by the end of the month based on prior production and sales levels. Numerous additional workover opportunities exist in these wells, which, subject to available capital, will allow us to further enhance production.?

Imperial is an energy company engaged in traditional oil and natural gas production and biofuels production and is 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, 812-867-1433
email: jtwilsonx1@aol.com