> 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

Oil prices rising rapidly....$120 at the moment.....producing oil companies not operating in the Gulf should rise soon.....the question is : is it worth staying put in IEC or jumping ship before the rise ?.....decisions... decisions, ( I'm pondering whether to come in to IEC at the moment ).

Jumped back in once again on the latest pullback, (might make close to a profit if taken over), risky coming back in....but what the hell ! it's only oil ! (gulp !!!).

I already hold this stock, but also bought a few more at 1183p. If the final price is going to be 1250p then that is short term profit. May even be happy selling at 1235p which gives me instant cash to invest elsewhere.

Just seen this:

BRIEF-Sinopec rules out Imperial Energy bid
AFX


LONDON, Aug 28 (Reuters) - Imperial Energy Corp Plc :

* Sinopec international petroleum exploration and production corporation

('sinopec') announces that they are no longer considering making an offer for

Imperial

I've been in and out half a dozen times....good stock to trade....in a way it will be a shame to see this disappear off the radar screen when taken over....the Russians are difficult people to deal with but, boy ! they do have oil and loads of it !, whoever ends up owning this : will at current prices have a bargain in my view !.

That's why there is a pullback...1250p still on !.

As I posted earlier in discussion with Cynic, I never really thought the chinese were particularly interested in IEC. No surprise, imo.
Sp dipped to 1146p. That will bring out the traders!

Seems you were right then Harrycat. Shall await Cynic's views with interest - he should be back soon, unless he's fallen off his bike in France!

Guess the sp will rise back towards 1250p; that seems to be the only offer on the table.

no such luck, tho we certainly cycled hard and ate well!

sold my holding at 1219, so very happy tho would have hoped for a final price closer to 1500.

was away when the deal was finally done or when completion is due, but even if all cash, i see no reason to continue holding and the mathematics and exit of current holders may still leave room for a quick short

Thanks Cynic - glad to hear you made good use of the French cuisine!

at least i did not have to wash up!
had a couple of really interesting wines on our last night in Cahors courtesy of the sommelier ...... the red, i have similar year and quality in the cellar, so look forward to trying that .... the white was from a very small producer and will try to track down, though he may have no spare to export

You should try the wines from the Camargue region (Rhone delta)....the rose is by far : the best in France...it can knock the rose d'Anjou for six.... and the Saucisson de Taureau (bull sausage meat)....delicious !.

Have received mail this morning confirming recommended cash offer of 1250p from ONGC Videsh Ltd. No time frame mentioned, but looks like this is now a done deal.

rose is much underrated, though uk sales have rocketed in the last 2/3 years .... in fact ordered a number of assorted cases from Ch de Marsannay (near Nuits) which we then picked up from Calais on the way back .... we think their rose is also very good.

by the way, saucisson aux noix (walnuts) is exceptionally good, rather to my surprise

Ahh ! Nuits St Georges...la Bourgogne......yes...!, I shall have to try some of the saucisson aux noix !.

bought that when on hol in provence, though they also make similar in Quercy which is the centre for walnut growing

The saucissons from the Midi nearly always have herbs, peppercorns and such...really excellent.....the 1250p is a long way up from todays price, surprised that people don't pile in and bring the sp up to 1230p or so !.

When is this takeover bid going to be finalised....?.....sp starting to slacken off here !.

if sp falls far enough, it becomes quite a safe buy, there always being the risk that all will fall apart before final signing

That's what I'm afraid of !.