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




Powered by IST's




Powered by IST's


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

Anything less than 15 is a steal, even if the bid fails wait till the fall for a broad re rating of the oil companies.

There was a situation with Burren Energy (job to remember exactly now)...when I thought after a bid was turned down ..I thought well the stock will now drop like a stone but no the sp remained high...IEC could turn this down....I think (myself) that the company is worth more.

http://www.moneyam.com/action/news/showArticle?id=3102514

Heading for 12.90 now, about time too.

Bids for oil producing companies are 50% above their current prices.

first get a firm and viable and acceptable bid ..... meanwhile, IEC struggles to break through an old resistance at 1100

At the moment I wish I was in just one or two stocks only instead of a broad choice...IEC coming good !.

you only wish that you only had stocks that were roaring ahead .... chances are that they would all be plummeting and you would then regret not spreading your risk - lol!

At least the dow is up tonight...might be a better day tomorrow !.

One thing that slightly worries me is that there is no mention of the proposed takeover on the ONGC website.
http://www.ongcindia.com/default.asp
I would have thought they would have been keen to promote the idea.

What...?, IEC stable...no movement.., strange....!., no ups or downs...weird !.

i confess to finding lack of further news somewhat disconcerting and have taken some profits as a safeguard

Does seem strange, I agree.
Very thin trading today on IEC. Sp down 7 to 1058 (mid).
Am happy to sit on my stock over the weekend, but have been thinking about top slicing at 1100p just to be safe.
I wonder if the stumbling block might be getting Russian approval, rather than IEC/ONGC reaching a deal.

Difficult to predict....if IEC turn it down, does that mean : they value it more (I would), and will the market think so and then think a bigger bid will be forthcoming....it's guesswork.

i suspect the problem, if any, is not with the IEC board

Could drag on for weeks...

More news to make the company more attractive to potential buyers:
"Bid target Imperial Energy has been granted a new long term production licence for the Golovnoye Field in Western Siberia and announced further progress in developing its Tomsk fields.

The company said the licence for its 47% owned Golovnoye field in Block 74 of Tomsk, Western Siberia lasts until 10 July 2028.

The Golovnoye Field currently has around 20m barrels of C1 and C2 Russian Registered Reserves."

Pushing 1100 resistance level again, but on tiny volume. Not gonna hold methinks.

looks as though there has been quite a lot of institutional buying which may well have sparkd the renewed interest

Drifting lower. Now approaching the 50 DMA line at 940, which I presume is the level for the active traders to watch? Does anyone have an opinion on the graph which is about the only indicator worth watching now, imo. Takeover could be a protracted affair, if it goes ahead, so how low can it go?