> 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

Nor am I ! Possibly 'cos I thought there may have been a counter offer which would have pushed the sp closer to the original 1290p estimate.
However, assuming this t/o goes ahead, at least this stock is a good hedge against a falling market. I would proabably have put the money elsewhere & be showing a loss now.

Just read this report OVL's Imperial deal in five weeks: Deora

Newswire18 / New Delhi September 6, 2008, 5:57 IST
Petroleum and Natural Gas Minister Murli Deora today said he hopes ONGC Videsh will conclude the Imperial Energy Corp acquisition deal within four to five weeks
He said that Russian President Dmitry Medvedev has offered to support OVLs bid for Imperial. I recently met the Russian president. He directed his advisor to see and help us. It will be a very good deal for the country and I hope it will be concluded in another four-five weeks, Deora said.

Yep...all gone quiet here !.

no more to report .... it's a done deal

Sp bounces around a bit so a few to be made. Just timing now so that we can take advantage of the approx 1 difference in the current price to the t/o price.

is the t/o still on at around 1215p a share?
if so any one think a good buy now for the t/o offer? or is the offer likeky to dissappear due to the prevailing financial markets?
Alex

I think the t/o was at 1250p wasn't it? Still going ahead as far as I know

yes 12.50 due within 4 wks

just goes to show ..... buying at say 11.00 after the announcement should have been akin to having money in a (safe!) building society ...... 10.00 therefore looks a steal, always assuming the Indians don't back out at the last minute

and against market trend, IEC has lost all yesterday's gain ...... is this just in reaction to cpollapse of Russian stock market, or is the deal now in jeopardy?

There were a few big sells that went through before 11.30 hrs & then the buys started, albeit in small quantities. Maybe people want their cash to cover other positions?
This was always going to be a long drawn out affair, imo, so am happy to hold for the moment.

I must be mad but I topped up.....just a small amount close to a 1000p....I must be nuts in this market !.

rather missed the boat on this one, or more accurately the keel ..... blindingly obvious buy at 1000, but have bought some at 1100 as with the bid 90+% certain to go through, profit looks pretty much assured ...... if there is an illogical dip to say 1050, then may well top up

sp dipping towards my 1050 target, presumably just because markets are generally weak and crude back to $107 from about $120 ...... however, with bid in place at 1250, surely a safe bet (or safer than almost anything else) even though it is not all signed and sealed as yet

You would have thought so! I wonder if a company has ever reduced it's offer as market conditions change??? Am still holding as I knew it would be a long, drawn out affair.

Can't make my mind up whether to keep trading this & risk being out when the t/o happens or just hold & hope that the final outcome is 1250p!

Harrycat : I did the same thing with Northgate Info Solutions (NIS) a while back...in and out all the time and got caught out when the takeover came ....could have cursed !.

anyone think this worth a shot at these prices? big risk is if t/o doesn't happen
Alex

one would have thought so, but it is somewhat concerning that there has been no news recently re completion

isn't it less than 4 weks away now?