UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

(Date of earliest event reported): March 24, 2008

IMPERIAL PETROLEUM, INC.

(Exact name of Registrant as specified in its charter)

Nevada	0-9923	95-3386019
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification)

329 Main Street, Suite 801

Evansville, IN 47708

(Address of principal executive office and zip code)

(812) 867-1433

(Registrant’s telephone number, including area code)

Check the appropriate box bellow if the 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

¨ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

ITEM 1.01 EXECUTION OF A MATERIAL DEFINITIVE AGREEMENT:

The Registrant entered into a Forbearance Agreement and Amendment Number One To Credit Agreement dated April 13, 2007 (“Agreement”) with D.B. Zwirn Special Opportunities Fund, L.P. Under the terms of the Amendment the Registrant is provided with access to additional funds subject to certain provisions and providing Registrant with relief under certain prior reporting deficiencies with Lenders. The proceeds available as a result of the Amendment were used to fund the Registrant’s ongoing development capital budget and for general corporate purposes.

Attached as Exhibit 99.1 is a copy of the Amendment.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

Exhibit Number	Description of Exhibit
99.1	Forbearance Agreement and Amendment Number Three To Consolidated and Restated Credit Agreement.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Imperial Petroleum, Inc.
By:	/s/ Jeffrey T. Wilson
	Jeffrey T. Wilson
Title:	President

Dated: April 16, 2008