> 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

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!

actually i got that wrong!
my sale had to be cancelled and apparently i'll receive the full cash, and i guess not have to pay closing commission either, but we shall see

Great result, any thoughts as to oil commodity plays in 2009. What chance bids for tullow, cairne or venture?

Tullow oil to buy out Heritage oil, (just a guess !).

there are probably several candidates, especially companies that actually have proven assets .... you have omitted PMO and certainly HAWK is strongly rumoured to be building itself up to induce a predator

cynic HAWK's prospective production of a mere 5k bopd is hardly going to attract any significant buying interest especially with oil at $40!

i sort of agree, but they keep on finding more and more puddles, so if my prediction of crude improving to north of $50, the perspective on the company may change

I think that oil will now start to rise a bit, and with HAWK : small streams make big rivers !, there will be more consolidation within the energy sector this year and look at the dozens of small penny Aim stocks that could be taken over......looks like 2009/10 will be a game of Pak-Man or Sharks....who eats who ?.