> 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

if you were out of all positions, the fair enough, as someone would have then declared one way or another ...... however, as i undersatnd it, once IGs deadline had passed on 23rd, all existing positions were effectively frozen and further trading, other than to settle existing uncommitted positions, was not possible .... i know, because i tried to open a new position after 23rd

I don't know cynic, maybe IG works in a different way? NatWest Stockbrokers had no hold over my shares, I could, and did, trade them as I pleased. I know 500 is only a small number, but in fact I sold 450 just before the close, leaving me with 50 'free' shares and a tidy profit from my traded ones. I will jump into the river Clwyd if the bid fails by 50 (after having eaten my, as yet unbought, hat)! Any possible threat to the offer would have originated in a country other than UK IMO.

How deep is the river Clwyd? For all we know it might only be a gently tinkling stream!!! :o)

Usually is!!! Quite deep today and VERRRRY cold!

tried jumping in and drowning yourself then - lol?!
IG is not a broker as such, so very diff from your guys ..... my holding was (is) all CFDs

Dipped my toe in, just in case, cynic! CFDs?, ah yes, I understand now. My way isn't as exciting I guess!

good news bad news with CFDs is of course the gearing possible, though with stocks like IEC one has to put up 25% anyway

Well, I forgot about that if you accepted the offer that your shares would be suspended, if I had not voted in favour, I would have sold today just before close of play !.

No tax with CFDs though?

RF, I'm sure you will be glad you weren't able to sell, I think the closing price looks a little too high for the bid to fail. I hope I'm right.

Wait for the fat lady.....

anyone know when we will know for certain the level of acceptances?

Kim, no stamp you mean, its spread betting that isn't liable to tax...

Cheers Big Ted, I'm still learning! I guess the taxman will get us all in the end one way or another though!

Halifax, looks like the fat lady might just be singing!? :-

LONDON, Dec 30 (Reuters) - Shareholders owning over 90 percent of UK-listed oil explorer Imperial Energy have backed a 1.3 billion pound ($1.89 billion) bid from India's ONGC , a source close to the matter said, forcing ONGC to seal a deal it tried to delay.

'They have exceeded the 90 percent threshold comfortably,' the source said.

(Reporting by Tom Bergin; Editing by Erica Billingham) ($1=.6881 Pound) Keywords: IMPERIAL/INVESTORS

(tom.bergin@reuters.com; +44 207 542 1029; Reuters Messaging: tom.bergin.reuters.com@reuters.net)

she sang shortly after 1 o'clock though for some reason it was not formally announced.

Assuming it's true, that is excellent news for us shareholders. Well done all those people who remained committed. Certainly eases the burden of other losses due to the credit crunch. Sadly it signifies the end of the IEC thread, but hopefully onwards & upwards for all our other stock picks.

would have liked to say i held all the positions i had several weeks ago, but am not ashamed to say i would not have had the balls to do so - no deal and the loss would have been worse than eye-watering ...... made a profit all the way in selling off 80% and had enough palpitations even with the remainder ..... no (respectable) profit should be sneezed at, so very thankful that all went through eventually

was thinking of selling my shares this morning, but with a further 45p of guaranteed upside, i shall stay put until the end ...... i would hazard a guess that with only 3% of shares uncommitted, completion should be no more than say 6/8 weeks as there is no point at all in ONGC now hanging around.

out at 1247 ..... can't compalin at that!

I'm glad you didn't settle for less cynic!

4. Settlement of the consideration

Settlement of the consideration to which any Imperial Energy Shareholder is entitled under the Share Offer will be despatched either on or before 13 January 2009 in respect of Imperial Energy Shares for which acceptances of the Share Offer complete in all respects have been received as at 1.00p.m. (London time) on 30 December 2008. Settlement of consideration due in respect of acceptances of the Share Offer complete in all respects received after 1.00p.m. (London time) on 30 December 2008 but while it remains open for acceptance will be despatched to accepting Imperial Energy Shareholders within 14 days of receipt of such acceptances.

as i held CFDs, i suspect i would have had to have sold them anyway, as they are sort of ghost shares

Yes quite possibly. Well done for having the courage to accept the offer!