> 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

Seems its a big con, the Rospir does NOT HAVE THE POWER TO WITHDRAW.
Rosendra responsable for licences, has stated NONE OF ITS LICENCES ARE TO BE WITHDRAWN.
They noted some licences required siemics within 3 months. dated 1st June.
cyril

Ruskies probally panicing the market to aquire some more cheap shares. Think company should issue statement.

It maybe that these 5 licence are the ones that IEC voluntary gave up?
must go v busy
cyril

Imperial Energy Falls Behind on Developing Fields, Russia Says

By Greg Walters and Torrey Clark

Sept. 20 (Bloomberg) -- Imperial Energy Plc, a London-traded company that produces oil in Russia, has fallen behind in developing some of its fields, Russia's Natural Resources Ministry said.

The ministry revoked five development licenses from Imperial Energy around the second quarter of last year, Oleg Mitvol, deputy head of the ministry's environmental watchdog agency, said by telephone in Moscow today.

Imperial Energy fell 0.8 percent to 1,052 pence in London trading as of 9:52 a.m., paring a decline of as much as 15 percent.

A spokesman for Imperial Energy declined to comment immediately on the statement.

To contact the reporter on this story: Greg Walters in Moscow gwalters1@bloomberg.net

i bravely bought a few more at 950 this morning, but may well cash them in later today as that takes me seriously o'weight here.

IEC say the staements ex Russia are a load of bollocks, but detail as to exactly why etc still not available here though perhaps via Bloomberg

LONDON (Thomson Financial) - Imperial Energy Corp PLC has denied a press report claiming some of its licenses in Russia have been annulled by the government.

'In response to press speculation this morning, Imperial Energy states that no licenses have been withdrawn,' the company said in a statement.

Russian news agency Interfax today reported, quoting a statement from the Natural Resources Ministry, that the federal resource use agency Rosnedra has annulled five hydrocarbon exploration licenses held by Imperial Energy in the Tomsk region.

Imperial Energy, in reaction, called the Ministry's statement 'materially misleading with significant factual inaccuracies'.

'Imperial rejects suggestions that it is behind on work at Nord Imperial. Other licenses referred to have been relinquished by the company two years ago due to lack of prospectivity,' it said.

Cynic, Ive no spare cash. So i think you did the right thing buying more.

fortunately in the last few days i have recovered shirt, tie and socks and arguably shoes too!

You never know you could 15% up on your purchase by end of the day (FINGERS CROSSED!!)

Got to go out to an antiques auction for hour or two. Hopefully we will have a detailed rns from the company, then everything will be rosey in the garden again.

it won't be that good, but no doubt IEC or the Russian govnt will have to respond further to the RNS i posted above

The company will issue a full and correct statement shortly, with more detail.
cyril

sorry it's a bit long .... typical Russian pressure being applied - see the last line!

Imperial Energy Corp PLC has denied a press report claiming five of its licences have been annulled by the Russian resource use regulator Rosnedra.

Russian news agency Interfax today reported, quoting a statement from the Natural Resources Ministry, that Rosnedra cancelled three licenses held by Imperial unit Alyansneftegas and a further two held by another unit, Sibinterneft.

The Alyansneftegaz permits will expire in December this year and the Sibinterneft licences on March 2008.

'Imperial Energy states that no licenses have been withdrawn,' the company said in a statement.

Imperial pointed out certain licenses referred to by the Ministry have been relinquished by the group two years ago due to 'lack of prospectivity'.

It also rejected accusations by the Ministry that some of the projects, operated by Nord Imperial LLC, were behind schedule.

'The statement issued by the Ministry of Natural Resources... is materially misleading with significant factual inaccuracies,' the company said.

The news came a day after Imperial revealed the Russian Commission For Natural Resources Reserves (GKZ) has confirmed and approved the oil and gas reserves for the group's Sredneglukhovskoye field in western Siberia.

GKZ's approved reserves for the site -- located on Block 70 in the Tomsk region -- totaled 39.7 mln barrels, better than the 25 mln barrels of proved and probable reserves estimated by independent auditor DeGolyer and MacNaughton at end-2006.

The approval, which sent Imperial's shares soaring by as much as 15 pct on Wednesday, will allow the company apply for a commercial production licence for the field.

However, Interfax claimed, in a separate article, that GKZ is reviewing the reserves data submitted by Imperial.

i was a good boy and avoided being too greedy ... sold the "extra" i bought this morning at a tasty 50p clear ... wish i could always pull that sort of trick!

As promised robust defence this morning, perhaps this will help cut out the nonsence towards IEC ?
cyril

it should rather than will do ...... am still glad i banked yesterday's day trade as i really was over-exposed, whereas am now just a bit o'weight

very encouraging to see sp recovering to day to finish comfortably back over 200 dma .... on the assumption that Wall Street does not disembowel itself later this evening, which is looking unlikely, there could be (much) more to play for next week

Cynic, humility..."wish i could always pull that sort of trick! "

i am indeed ever-so 'umble good sir

Just read a poorly translated script concerning IEC and the latest nonsence.
It appears that IEC are not letting it go, and are demanding a retraction
by the ministry responsible?
cyril