> 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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img src="http://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=IEC&Size=700&Skin=BlackBlue&Type=2&Scale=0&Span=YEAR1&MA=&EMA=&OVER=&IND=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0">
cyril

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

silly Q no doubt, but why, if IEC's revenues increased by 500% didi their losses also increase? ..... not at all clear from RNS

I can only think its to do with the massive program of investment in the inferstructure,and hopefully will start to bare fruit in the coming months?
Pipelines built, 7 new wells (6 successful)fraccing, 5 new wells either being
drilled or about 2b spudded and 3 new rigs on order.
I believe this is addressed in the 2nd paragraph of the financials. It is worth knowing that the tax on production is very high, some 90% on prices above
$27(?) a barrel.
cyril

Loss due to massive admin costs see profit & loss account.

The small investment reported today by a director is worth 18,000 and would buy a whole lot of goods in Russia.

Halifax; IEC have only been in business 3 years, and their achievements
outstanding. The reason companies come to the market is to provide funds to
allow them to grow, it is expected to lose money in its early stages. The
enormous program that we have, must require a great deal of planning. Well
worth reading the financial part, which adequately accounts for such losses.
cyril

Am travelling ands detail was not available when i left yesterday.
why such massive increase in admin costs ..... fine to baldly state such but ..... no have still not had time to read, but on face of it, does not sound good

Cynic,much down to the cost of transfering to the main market.
Another RNS director dealing, P Livine increases his holdings to
9.15%, ok so he got them at 5. He also has aTLIP which if exercised will
increase to 10.45% his holding.
Other report today Fidelity have reduced their holding by over 400,000 to 4.92%?
They could of course sell another 1% before we find out, does look as though some are covering themselves?
cyril