> 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

oil is indisputably a finite resource ..... ust because there is still plenty in the ground, which of course there is, does not mean that the saudi's and/or opec will be prepared to sell it cheap, albeit that that is relative.

If as we are lead to believe the global economy is likely to slow quite rapidly it follows that demand for oil will also decline along with the price. The Saudis are not going to "kill the golden goose".

Or they could just reduce production to keep the price high.

They wont do that as they need to keep in with the Americans who as you know are their neighbours now.

halifax .... ever tried working with Aramaco who effectively dictate how much Saudi oil is pumped? ...... trust me, if they want to hold back production, as they did for a year or more in 2006/2007, then they will and did! .... nor were they lying when they said they were pumping as fast as possible .... they were just not developing further (won't bore you with the tech detail) which requires pretty minimal effort and expenditure

You are ignoring the politics at your peril.

not really, but i do have first hand experience of what i wrote above .... that said, the Amis will have to give away something more than very substantial if they are to bribe the Saudi's

It should be remembered that the price of oil effects IEC less than most due to the tax of 90% per BO.
cyril

http://www.investegate.co.uk/Article.aspx?id=200801210701061506M
cyril

excellent rns this morning, but sp got whacked along with everything else as (presumably) forced sales came into operation ..... just bought some at 1442 as looked a reasonable risk even in this market

Cynic,it looks like the same thing is happening to you that caught me out the other day with PFC, IEC dropping...

fortunately got wake up call just in time and liquidated plenty ...... shall continue to hold (balance) of PFC ..... IEC i bought cos i thought it had fallen almost enough .... would rather sp had hit 1400 and one of the dmas, but a resonable price anyway i thought

200 DMA still around the 1200 mark & current sp 1373, so no cause for alarm, imo.
Regularly breaks through the 50 DMA but recovers quickly.
At 1373 certainly looks worth a very short term investment, imo. But tricky to predict the market at the moment.

Although, maybe not yet. Now 1320 offer.

http://www..investegate.co.uk/Article.aspx?id=200801250701105241M
Excellent news from IEC,also OEX has issued an RNS thats well worth checking out.
cyril

Just wondering what value can be attribited to Russian P2 reserves, maybe$4/5
a barrel? This would give something like 372*4= 1488/2=744m against a M/Cap
of 761m and of course production of 10,000bopd+.
The one of the fields they refer to as to be tested would be Block 80 which is believed to be hugh and they at present building a pipeline(prior to drilling). Along
with D&M reserve update,Kazakhstan drilling result due, a whole lot of positives.
cyril

Merrill have set target of 2400, but don't expect to rush there any time in the next week or two!

Shares Mag implies that Peter Levine cashed in more than 1.5m shares because he thinks that the russian authorities have certain plans in the pipeline which may have a detrimental affect on IEC. They think that Levine is extremely shrewd & doesn't sell unless there is a very good reason. 'Personal reasons' was the official explanation, but this was taken with a certain amount of scepticism.
However, production is due to increase over the coming years & most brokers seem to be positive about the stock.

i read that too ..... certainly was one hell of a slab to sell

though somewhat patchy, most of the decent oily producers have enjoyed a good run of late .... IEC has done bugger all, but as the 3 month chart below shows, there should be good support at the current level, and sp has a habit of suddenly getting the wind in its sails .... i am confident enough to have bought some more this morning.