The company has finished its survey of the Nunnelly #1 wellbore, and believes there to be three existing casing strings within the well.

According to Imperial, the survey to date has not revealed any obstacles within the hole above the assumed plug apart from a bend/kink in the near-surface section of the casing.

Imperial Resources CEO Robert Durbin said that the majority of the wellbore observed appears to be in pretty good shape.

"By going at this step by step we should be able to establish high probabilities of success without too much financial risk," Durbin said.