> 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

and a lot of difference the following made - lol!

Shares in Imperial Energy Corporation PLC were higher at midday, following a positive trading update this morning, while Daniel Stewart upgraded its stance to 'buy' from 'hold' with a price target of 2,000 pence in reaction.

Earlier, the oil producer, said its annual review showed oil and gas net reserves as at end-December from 17 of its Tomsk region fields in Western Siberia rose to 920 mln barrels of oil equivalent.

The company also said the Russian Ministry of Natural Resources has extended all exploration licences owned by Imperial's Sibinterneft, for a further two years from April 2008, when they were due to expire.

In reaction, Daniel Stewart said it thinks this strong update from Imperial shows that although the company has had some difficulties in production, which is to be expected, it continues to add reserves, including gas and it believes the company is set for some very exciting upside over the next 12 months.

The broker is encouraged above all by the continued path to Russian Reserves parity and it also noted that the Natural Resources Ministry has extended the exploration licenses of Sibinterneft from April 2008.

It is positive about the update and noted that Imperial, albeit still burning cash, is progressing towards a cash flow positive position and it feels the incredible value that exists in the company is beginning to be unlocked.

Decided to join you ! Cynic your last post convinced me, now come on IEC...you can do it !, should probably have got in this morning...the reserves are possibly immense with this company.

Well that's a bad start...should have listened to myself !

don't you just love Goldman Sachs?

Euhh.. the saxophone player ?

haha! ..... downgraded IEC to SELL with target of 1050 ..... have yet to see full script

Right..! grrrr ! they are off my Christmas list !

As I think they are mistaken..could provide a wonderful top up opportunity later on sometime !

GS write .....

Cut Imperial Energy Corp PLC to 'sell' from 'neutral', while upping its price target to 1,050 pence from 910 pence, on valuation grounds.
The broker said it thinks at current levels the stock's valuation either does not take fully into account the capital expenditure requirements that would be needed to bring its reserves to production, or assumes overly aggressive production volumes based on available reserves data.

This means a little trip to Russia to see how far reserves are from pumping stations etc...of course turning reserves into production takes some doing but look at Afren, they are getting on with it and IEC are well established in Russia now and with the Oil price rocketing ...I think they will do well this year !

Adding to my previous post, I don't think the broker downgrade would have changed the drop this morning.. it's the same across the board today...we all need the good old USA to show a few signs of improvement !

If someone could post a chart here, that would be really helpful, with 50 & 200 DMA. I have had a look at the chart, but trying to make sense of any kind of trend is difficult, imo. 200 DMA support looks to be around 1300+ ?

Recovery starting to show...reminds me of last year's BUR downgrade by some analyst and we all know how much that went up by !

Not quite so sure about recovery, graph turning down and if the market doesn't turn around soon, i would be looking for support around 200dma

Jeepers Big Ted !, you're right...it's diving !

I have also seen another broker target of 1050, which is a bit worrying.
Also, 1050 doesn't look like much of a support level, so momentum could take it further.

I'll be interesting to see the how the SP holds, with the March S/bets due to close in the next couple of weeks and also the end of tax year usually which brings a spate of selling?
cyril

Any chance you could post a chart in your header please cyril? That would save having to post one on each page.

Harry teach me how and i will, or start a new thread.
cyril