> 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

That's why there is a pullback...1250p still on !.

As I posted earlier in discussion with Cynic, I never really thought the chinese were particularly interested in IEC. No surprise, imo.
Sp dipped to 1146p. That will bring out the traders!

Seems you were right then Harrycat. Shall await Cynic's views with interest - he should be back soon, unless he's fallen off his bike in France!

Guess the sp will rise back towards 1250p; that seems to be the only offer on the table.

no such luck, tho we certainly cycled hard and ate well!

sold my holding at 1219, so very happy tho would have hoped for a final price closer to 1500.

was away when the deal was finally done or when completion is due, but even if all cash, i see no reason to continue holding and the mathematics and exit of current holders may still leave room for a quick short

Thanks Cynic - glad to hear you made good use of the French cuisine!

at least i did not have to wash up!
had a couple of really interesting wines on our last night in Cahors courtesy of the sommelier ...... the red, i have similar year and quality in the cellar, so look forward to trying that .... the white was from a very small producer and will try to track down, though he may have no spare to export

You should try the wines from the Camargue region (Rhone delta)....the rose is by far : the best in France...it can knock the rose d'Anjou for six.... and the Saucisson de Taureau (bull sausage meat)....delicious !.

Have received mail this morning confirming recommended cash offer of 1250p from ONGC Videsh Ltd. No time frame mentioned, but looks like this is now a done deal.

rose is much underrated, though uk sales have rocketed in the last 2/3 years .... in fact ordered a number of assorted cases from Ch de Marsannay (near Nuits) which we then picked up from Calais on the way back .... we think their rose is also very good.

by the way, saucisson aux noix (walnuts) is exceptionally good, rather to my surprise

Ahh ! Nuits St Georges...la Bourgogne......yes...!, I shall have to try some of the saucisson aux noix !.

bought that when on hol in provence, though they also make similar in Quercy which is the centre for walnut growing

The saucissons from the Midi nearly always have herbs, peppercorns and such...really excellent.....the 1250p is a long way up from todays price, surprised that people don't pile in and bring the sp up to 1230p or so !.

When is this takeover bid going to be finalised....?.....sp starting to slacken off here !.

if sp falls far enough, it becomes quite a safe buy, there always being the risk that all will fall apart before final signing

That's what I'm afraid of !.

Still dropping......

A bit surprising, imo, but I wonder if some people don't want to wait for the final announcement which would suspend the shares & tie up the money for a while.
Presumably Putin's mates have to agree the deal as well which could be a fly in the ointment?

i banked my profits at 1219, so am now just an interested observer

Also interesting that there is absolutely nothing in the way of reference to IEC on the ONGC website. Bizarre.
All oils down today however, so may be nothing to the sp drop.

On the move again to 1173p.
Am tempted to sell the lot over 1200p. Not worth waiting for the final few pence.