Imperial Petroleum Inc. announced earnings results for the year ended July 31, 2009. For the year, the company reported operating revenue of $1,069,361 compared to $1,855,381 for the same period a year ago. Loss from continuing operations was $2,199,020 compared to $668,891 for the same period a year ago. Net income was $10,785,443 or $0.636 per share compared to net loss of $2,588,859 or $0.16 per share for the same period a year ago.

Imperial Petroleum, Inc. announced the financial results of its year ending July 31, 2009 with net income of approximately $10.8 million. The company intends to look at acquisitions opportunities. Jeffrey T. Wilson, President of Imperial, said: "The sale of assets to retire our debt resulted in an overall gain for the year of about $13 million and resulted in a net gain of about $10.8 million. Now that we have retired our debt, we can focus on new acquisition opportunities for the Company using our remaining oil and gas assets as a basis to re-establish our growth plans for the coming fiscal year."

Imperial Petroleum Inc. reported earnings results for the third quarter ended April 30, 2009. For the quarter, the company has posted a net gain of $12.34 million. In contrast, the company posted a net income of $829,885 for the same quarter in the previous year.