> 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

cynic it seems likely to us that ONGC which as you know is a government owned para-statal will want to reduce it's offer for IEC in light of the fall in the oil price since they made their initial offer, otherwise there are likely to be political repercussions in India.

you know that for a fact do yo, or is this nebulus "us" merely the way you feel? ...... if they do reduce the offer, they do, even it looks pretty unlikely as the russkies would have plenty to say too, and intimation of same would almost assuredly have leaked out by now - the van driver, who always knows everything (it's true) would have known

cynic why should the Russians be upset if ONGC pays Mr Levene and his cronies less than originally envisaged?

whatever! .... i don't readily rise to bait ....... as even my current holdings stand me in at only just over 10.00 (i have previously banked profits), i would be surprised indeed (as can indeed happen), if i end up out of pocket, though that always presupposes ONGC do not abandon the bid in toto .... do i take it that you are short of IEC (and several dozen other companies)?

discretion being the better part of valour, i have just banked profits on about 35% of my holding at 1051 ..... if i had been really sharp on trhe button, could have got about 1065 a little earlier, but never mind

Not sure I see much point in selling sub 1100p, unless the money can be used for a better return elsewhere. You are doubting the final deal then?

From Sunday Telegraph:
"Imperial Energy, however, perked up 23 to 10.30 despite doubts over whether prospective buyer ONGC, of India, will formally press ahead with its 12.50-a-share offer.

Imperial's share price has been trading below the offer price for some time as ONGC has not yet sent out its offer document to shareholders. It has until next Tuesday to post the offer to shareholders.

It is thought some traders are nervous about whether ONGC has the appetite to follow through with the deal amid a plunging oil price and deteriorating economic climate.

However, other sources said the market is more worried about whether index-tracking funds would tender their shares to ONGC. The Indian company's offer is conditional on 90pc of shareholders accepting the deal."

not sure, but was very very heavily o'weight and reduced to just heavily o'weight! ..... am also travelling for the coming week so cannot watch trhoughout the day as i usually do/can

I don't think cynic will be to pleased when he see this.8.00

ULB.

LONDON, Dec 8 (Reuters) - Imperial Energy Corp Plc:

* "UK takeover panel hearings committee says no extension to be granted on OVL offer document deadline for Imperial Energy

* OVL stated that it did not intend to appeal against the committee's decision which is accordingly final"

"LONDON, Dec 8 (Reuters) - Indian state-controlled oil and gas company ONGC has abandoned efforts to delay its acquisition of British oil explorer Imperial Energy and accepts it must send an offer document by midnight Tuesday, a spokesman for ONGC's overseas arm said on Monday.

A source close to Imperial said the company saw no reason why the takeover would not proceed."

Which means, if you think that it will go ahead, that you can buy at 800p & sell at 1250p, if you are quick!!!

*^$"&$(!!!!+-------- to put it bluntly !.

Blinkin' heck ?, buy some more ?, crikey what a stock !.

Will it go ahead or won't it? Simple question, tricky to answer.

Seems to be in auction beofre the close or have I got my timings wrong?

Would love to buy some more, but can't risk further funds !.

In auction. Bid is more than offer price.

LONDON, Dec 8 (Reuters) - Indian state-controlled oil and gas company ONGC has abandoned efforts to delay its acquisition of British oil explorer Imperial Energy and accepts it must send an offer document by midnight Tuesday, a spokesman for ONGC's overseas arm said on Monday.

A source close to Imperial said the company saw no reason why the takeover would not proceed.

It'll be interesting to see what the closing price is today!

Same as post 781. Keep up!!! ;o)