> 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

Still no confirmation of the final price though. Might be worth just keep trading these rather than hanging on for the final deal.

not such silly advice .... anyway, let's see where it opens on monday

re-reading the rns, 3rd December looks to be a key date, which of course is still some weeks off, as is actual completion - all being well

Even with oil as it is...(and it could soon rise again)...the Indians will be buying a bargain if the future production figures are to be believed !.

isn't it nice to be able to discuss a share that has genuine upside potential in the immediate future! ...... RF - i agree, and confess i was disappointed that the bid was accepted at 12.50, though in current markets, that is probably fair enough

it would be reasonable to have assumed that the RNS, extract below, would have caused sp to rocket, but no such thing ...... some things are very strange, especially in the current market and climate

MOSCOW, Oct 28 (Reuters) - Russia's Natural Resources ministry said on Tuesday there is nothing hindering the sale of Imperial Energy to India's ONGC.
'There are no problems. Let it be sold,' Alexander Ledovskikh, the head of Rosnedra, the federal subsoil agency within the ministry, told a news briefing.

I just wonder if investors are not prepared to wait for the grinding slowness of the russian regulatory authorities. The cash could be used elsewhere for more volatile stocks. Am very tempted to top up at 850p, even if selling something else at a small loss. I wonder if it will get to 800p. If it sells at 1250p per share then that is a very nice profit, thank you!!!

couldn't argue against buying at 850, but more sensible would be to sell early at 1100/1150

sp suddenly on the rumble ...... suspect that the hedge funds have been forced to unload over the last few days/weeks, and perhaps that has now come to an end, and/or a little hug from the MMs to force some more buying

Do you think the hedgies have been shorting this, knowing that a resolution was months away? Presumably if they were long IEC then they would wait for the final outcome?
Or, worst case scenario, could be folks selling up thinking bad news is on the way.

confess i am merely trying to rationalise why the weakness when logic says otherwise

Bad news could be the takeover is off.....but frankly....who cares if the future production figures are correct !, there could be an intial drop followed by a strong recovery a little later....what could be bad is that production is delayed and the takeover is off as well....in that case : ouch !.

Stepped on a catapult this morning !, possibly ?

Answer : Russia clears takeover (see AFX) !.

Excellent news & certain hegde funds breathing a sigh of relief also.
Current price 1084p which is still attractive with a final price of 1250p.

nice to have been calling this correctly for the last 3 months!

Just an extract from the approvals doc:
"OVL (ONGC Videsh) had applied for the approval in respect of the ownership of Russian entities by entities controlled by a foreign government. Such approval has yet not been received and OVL is seeking clarification from the FAS regarding the status of this approval.

The filing made with the FAS in respect of anti-monopoly regulations remains under consideration by the FAS.

Accordingly, neither of the Pre-Conditions to the Offer have been satisfied. A further announcement on the progress of the Pre-Conditions will be made in due course."
Not done & dusted yet!

such are the Russkies! ..... no doubt one of their number decided to make a quick tunr by shorting! ...... i have little doubt that all will come right in due course - i.e. within the next 2/3 months or maybe sooner

clearly a lot of others also believe that the real (lol) approval will be granted by FAS in the not too distant future ...... took my life in my hands and bought a few more on the dip and of course now have a problem as to whether or not to bank that bit of useful profit ...... greed is a terrible thing!

was a good boy and top-sliced at 1077

If approval is still weeks away (or more) then the sp may well slide back down sub 900p, imo. I would think it's best to keep trading them just in case.......

I think final clearance came friday evening, plenty of reports on web, see one example below.

So its just down to completion now, any one with any ideas on price action tomorrow morning?

Russia clears Imperial Energy deal with ONGC Videsh
MOSCOW: Russia's anti-trust watchdog yesterday cleared the acquisition of UK-listed Imperial Energy by ONGC Videsh Ltd allowing the Indian energy major to close the $2.58 billion deal.

The Federal Anti-monopoly Service (FAS) has given a positive response to the Jarpeno Ltd, controlled by the ONGC, which had applied for the acquisition of 100 percent equity in the Imperial Energy, leading business daily Kommersant reported.

Quoting FAS spokesman the paper reported that permission, which come into immediate effect was given yesterday after the Natural Resources Ministry clarified that Imperial Energy's Russian assets in Tomsk region of Siberia are not of strategic importance .

The daily noted that anti-trust watchdog cleared the deal after the Petroleum Minister Mr Murli Deora had met the Prime Minister Mr Vladimir Putin on Wednesday.