> 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

does Shares Mag know what it's talking about for a change?

Cynic by name, Cynic by nature? ;o)
ONGC, Sinopec & Eurasian Natural Res are all in the frame.

well let's hope
the following is accurate and not some smart russian operator at work ....

Russian oil producer Imperial Energy Corp Plc , which is in the sights of China's Sinopec Group and India's ONGC , could be sold within days, a source familiar with the situation said on Wednesday.

'This is very, very live,' the source said, on condition of anonymity. 'There could be news within the next couple of days or next week.'

http://www.investegate.co.uk/Article.aspx?id=200808180935495069B
Deutsche Bank reducing.
cyril

Deutsche Bank is also being badly squeezed for cash etc .... if you look back, you will see that they have been unloading stock in many companies for the last weeks and months .... further, it is more than likely that DB's holding was placed with another institution

goody goody! ......

A government panel has approved India's state-run Oil and Natural Gas Corp's $3 billion bid to buy Russia-focused oil firm Imperial Energy Corp Plc , the Business Standard reported, without citing any sources.

The Indian explorer has submitted an initial bid of $2.96 billion for Imperial Energy that has proven and possible reserves of 920 million barrels of oil equivalent, the newspaper said on Thursday, quoting unidentified investment banking sources.

ONGC Chairman R.S. Sharma declined to comment on the report.

The newspaper also said that ONGC had already spoken to the Russian authorities and had recieved a favourable response.

ONGC currently own 20 percent stake in Russia's Sakhalin I project.

Look out for a nice rise today then!

Have been trading in & out of this for the past few weeks as sp tends to drift after the hype has faded. Can't really risk being left out now though as 1290p is the obvious target. A nice little bidding war would spice things up a bit, but I have a feeling the chinese were just throwing their hat in the ring as a gesture rather than anything serious. They admitted they have been looking at lots of possible aquisitions & IEC didn't seem to be high on their list. The Eurasian rumour appears to be just that. Some journalist trying to justify his keep no doubt?

i would doubt that 1290 will be the end of the matter and equally doubt, though with less conviction, that the chinese are not seriously contemplating

Number : 9621B
Imperial Energy Corporation PLC
26 August 2008


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

26 August 2008

IMPERIAL ENERGY CORPORATION PLC
("IMPERIAL ENERGY" OR THE "COMPANY")

OFFER FOR THE COMPANY

Imperial Energy confirms that it is in the course of finalising the terms of a possible
recommended pre-conditional cash offer with ONGC
Videsh Limited ("OVL") of 1,250 pence per Imperial share to be made by Jarpeno Limited (a
wholly-owned subsidiary of OVL), which would value
its entire issued and to be issued ordinary share capital at approximately 1.4 billion.

This announcement does not amount to an offer under Rule 2.5 of the City Code.

A further announcement is expected later today.
cyril

Sp has slipped back a bit - but I'm sort of waiting for another offer to materialise here

Don't get your hopes up. I thought that this might escalate in to a bidding war, but it now looks like the deal is done.
Can't make my mind up whether to sell now & forego the last 30p, or hang on for the final payout. Depends a little bit on how long they take to pay once the deal is signed.
Mind you, if the sp falls below 1200p, might be worth buying a few more! Decisions, decisions.

It is a dilemma indeed - and, like you, I had expected it to go to a bit of a bidding war. It may yet I suppose - have known other cases where it's looked like a 'done deal' only for others to emerge from the ether.

1182p to buy at present. Which presumably means some people don't see the takeover as a sure thing?

Certainly not certain if you look at the sp. I still remember reading poss offer expected to reach 1500p, assuming another bid will emerge, so think I'll hang in there for now and watch as closely as my available time allows. Good luck!

Oil prices rising rapidly....$120 at the moment.....producing oil companies not operating in the Gulf should rise soon.....the question is : is it worth staying put in IEC or jumping ship before the rise ?.....decisions... decisions, ( I'm pondering whether to come in to IEC at the moment ).

Jumped back in once again on the latest pullback, (might make close to a profit if taken over), risky coming back in....but what the hell ! it's only oil ! (gulp !!!).

I already hold this stock, but also bought a few more at 1183p. If the final price is going to be 1250p then that is short term profit. May even be happy selling at 1235p which gives me instant cash to invest elsewhere.

Just seen this:

BRIEF-Sinopec rules out Imperial Energy bid
AFX


LONDON, Aug 28 (Reuters) - Imperial Energy Corp Plc :

* Sinopec international petroleum exploration and production corporation

('sinopec') announces that they are no longer considering making an offer for

Imperial

I've been in and out half a dozen times....good stock to trade....in a way it will be a shame to see this disappear off the radar screen when taken over....the Russians are difficult people to deal with but, boy ! they do have oil and loads of it !, whoever ends up owning this : will at current prices have a bargain in my view !.