> 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

Touch of hysteria here, lets get back to reality. IEC is a solid company with good growth prospects currently in bid situation.

If the sp slips to 900p again, I think I would be happy to buy some more stock.
IEC fundamentals look sound enough.
Quite often august is a slow time for equities, so am happy to watch this one for a week or two with cash at the ready.

Well I sold at the right time 1080p....(more by luck than good judgment)....starting to look undervalued considering there still is the takeover question !.

Indian take-over stated in the Times to be during August.

http://business.timesonline.co.uk/tol/business/markets/article4426031.ece

it does NOT say that .... kindly report accurately!

Imperial Energy rose 61p to 958p amid talk that a formal offer for the company could be made as soon as next month. The oil company said this month that it was in talks regarding a possible offer of 12.90 a share. Imperial has not named the potential bidder, but ONGC, the Indian company, is understood to be behind the approach.


Thus, this story is still at the strong rumour stage at best

sp has now crept up to 1073, but this is a very difficult one to read, for while talks are obviously continuing (somewhere!) the Khaz gov't will certainly have a part to play, and that assumes the 2 protagonists can reach some sort of agreement.

I have decided to split my original holding in two. 50% hold in case of news, 50% actively trade in case takeover doesn't go ahead. I think when the next RNS comes out the sp will react very quickly, so have decided to at least have a foot in the door at all times.

cynic, think you've got you're wires crossed (posts 574& 583.) The bulk of iec's production and licenses are not in Kaz, they are in Western Siberia.
All production and reserves are in Siberia, Kaz still at exploration stage with drill due to reach target depth soon.

in that case both Kaz and Siberian (Russian) gov'ts will have something to say on the matter!

I would have bought this back at lower levels but bought other ones instead....but IEC looks promising....!.

suspect the Russians have already rubber stamped the deal, possibly with a view to Gazprom taking a stake at a later date.

wishful thinking old son!

Anyone have any views on the FT report last Wednesday that ERNC might also be looking at Imperial?

cynic, not sure I want to sell mine for 12.90. However I think the decision will be taken out of my hands unless there's a bidding war after a firm offer has been made (now that's wishful thinking!)

RNS Number : 5257A
Imperial Energy Corporation PLC
03 August 2008






NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION




4 August 2008




IMPERIAL ENERGY CORPORATION PLC ('IMPERIAL' OR THE 'COMPANY')

FURTHER PRESS SPECULATION








In response to further press speculation, the board of Imperial confirms that it has received another approach in relation to a possible cash offer for the Company.




There can be no certainty that any offer will ultimately be made for the Company or as to the terms on which any such offer might be made.




A further announcement will be made when appropriate.




Enquiries:




Imperial Energy Corporation PLC



Peter Levine (Chairman)
+44

cyril

now perhaps there could be a bit of fun!

"Media reports said that China's Sinopec had launched a bid to buy Imperial Energy last week."
Can't think the Russians would be too keen to approve a chinese takeover, but we shall see.

a bit more grist for the mill .......

Daniel Stewart repeated its 'buy' advice and 1,500 pence price target.

Daniel Stewart said the counter bid is rumoured to be from Sinopec, a Chinese state oil company, and while no price has yet been announced, the broker suspects the approach would have to be closer to the 1,500 pence-per-share level.

The broker thinks the immediate cause of this bid should be to move the share price to at least the 1,290 pence bid price.

today's dampener, i guess, is due to below, though in truth it says no more than might be expected at this stage of posturing ......

Sinopec in due diligence on Imperial Energy-report
05 Aug 2008 - 05:18
China's state-run energy giant, Sinopec Group, is in the process of conducting due diligence on Russia-focused oil producer Imperial Energy Corp Plc , but has not yet made an official offer, Chinese media reported on Tuesday.

Sinopec officials were not available for comment.

"We are upbeat about the prospects of blocks owned by the company. But we have to do our due diligence to decide whether if it's worth that much money," semi-official 21st Century Business Herald newspaper quoted an unnamed Sinopec official as saying.

"It's just an ordinary transaction. We have lots of targets for acquisition in recent years. The aim is to boost our upstream business for long-term growth," the official was quoted as saying, adding there were lots of uncertainties before the deal was finalised.

I wonder if they do actually have an interest in IEC or whether it is just getting a foot on the door to make it awkward for other company's plans. ONGC seem to be the other interested party, but pushing the price further up may see them walk away. Which may, of course, be what Sinopec want. Just my jaded view of chinese manipulation! Am not confident any takeover will happen.