> http://www.investegate.co.uk/Article.aspx?id=200804020701443743R
http://www.imperialenergy.com
http://www.investegate.co.uk/Article.aspx?id=200807040700042799Y




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cyril

Imperial Energy Corporation - BUY Price: 907p Target price: 1400p Code: IEC.L Analyst: Tim Heeley | 020 7776 6933

Further exploration next step has to be production through the pipelines
Imperial has announced continued success on its acreage in Western Siberia.
New discoveries have been announced on Block's 70 and 85, the former having the potential to double the reserves on the North Chertalinskoye field as the net pay encountered is twice the size as used in determining the 2P reserve of 46mmbboe.
Two new exploration wells have commenced and will reach target depths by October/November
Imperial has consistently shown it can add to its reserves base and the prospectivity of the region is without question. The next step for Imperial is to commence production through its completed pipelines and show it can produce the oil it is finding. This will be aided by the completion of the transfer with Transneft and is expected by the company to take place in September /October.
We maintain our buy recommendation and target of 1400p.

Imperial Energy, a London-listed oil producer with assets in Russia, is in talks with other oil companies to build a refinery in the Tomsk region
Imperial may own up to 10 percent of the project.

The refinery may have an initial capacity of 1 million tons per year, or 20,000 barrels per day, RBK Daily said, citing Yury Zelvensky, the head of Imperial's Tomsk operations. (Bloomberg)

certainly sp looks to have found its bottom, so to speak! ...... i would also agree that on the recent news etc, it ought to be a damn sight higher, but the same thing could equally be said about POG ...... my guess is that if sp ever gets back in gear, and i suppose it will eventually, then it could race upwards certainly to about 1025 where 200 dma currently resides

Surely IEC should be focussed on oil production before getting involved in oil refinery construction projects which will take years. Chicken and the egg springs to mind!!

would not disagree, but certainly a strong buy note even if the source is not too apparent and they also made another good discovery just the other day

The reality is whether IEC is producing the 6000 barrels per day promised in the year end results statement issued in April 2007. Interims due in next 3-4 weeks.

www.imperialenergy.com/investor_files/Imperial_Presentation_05_09_07.pdf

I wonder by considering a refinery they are making a statement of intent?
cyril

Once again i can't get it up(now,now)referring to the presentation? Works if you
do it manually.
cyril

Forecast production yr 2009 35000 bopd, does that justify spending hundreds of millions of dollars on an oil refinery? Is IEC upstream or downstream or merely up the creek?

At the moment the refinery are just discussions,it to me would look bad on Mitvol
to continue his campaign against a company that is investing so much in the
country. This will not look good to other would be investors and could be a clever ploy to put pressure on the man? Mitvol is at present in the USA meeting
institutions,probably trying to explain his actions,with D&M being a well
respected US company he will be under some pressure thats for sure.
It is in the interest of Russia to encourage Western technolgy so i feel(hope)
he will see things differently, and he is after all only a 2nd in command.
All my own thoughts?
cyril

i have dwelt on this overnight, and despite my puzzlement and minor misgivings about IEC buying up to 10% (plesae note small stake) of a proposed refinery, i have bought this morning at 902.5

blanche will be in for a good smacked bottom if she has seduced me wrongly, and a share of bottle of bubbly if right .... think she may prefer that to a kiss!

You know it makes sense cynic! Time will see this back where it should be, after all 35000 bopd not to be sniffed at. Many oil explorers out there would be happy with that as a long term forecast. (P.S. ooh i say!)

what makes sense? ..... smacking your bottom or buying some decent champagne to share? .... lol!

slightly more seriously, for i think i am almost incapable of being totally so, IEC's sp has bounced around this 900 mark for a little while ...... there was already indicated support at that level, and this has been reinforced ..... the additional find was scarcely negative, and though it would be good to know if the BUY note came from a source of high repute, a modest investment did not look unduly rash in any case.

btw, take a look at PFC - one of my faves in an associated sector

Abn Amro has raised its buy target to 14.35

Is that a 2.5million buy?

Follwwed by 2 x 2.4 million buys

cancel last 2 posts
4.7 million of buys in 3 trades.

Mitvol according to Reuters New York has said, "their has been No Russian Legistration that has been broken, we are saying be careful". He goes on to
quote IEC as having overstated reserves by 800%. Companies have turned to using suspect unverifiable measurements to convince investors they hold valuble oil
deposits.
So no problems with the law, just whether or not the figures are correct?
It appears rumours that PL had sold some of his holdings are unfounded,just
checked with Hemscott(freeby from winning stock challenge) at present he holds
4,132,777 shares or 8.172% and has bought on 3 separate occassions this year,
the latest being 13/06/2007 50,000 at 1115p. The man lets his money do the talking.
cyril

RNS out, Excellent 6400bopd, plus so much more.
cyril

http://www.investegate.co.uk/Article.aspx?id=200709100703035551D
cyril