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IEC Imp. Energy

1,253.00
0.00 (0.00%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Imp. Energy LSE:IEC London Ordinary Share GB00B00HD783 ORD 2.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 1,253.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1,253.00 GBX

Imperial Energy (IEC) Latest News

Imperial Energy (IEC) Discussions and Chat

Imperial Energy (IEC) Most Recent Trades

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Imperial Energy (IEC) Top Chat Posts

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Posted at 23/2/2012 11:32 by piperpeter
23 January 2012.

"We are very pleased at the contents of the Gaffney Cline report relating to only one of several deep gas and condensate plays at Puesto Guardian".

NPV10 - $134 million net to President on a risked basis - 77p per share.
NPV10 - $515 million net to President on an unrisked basis - 289p per share.

"only one of several"?

Viva el Presidente!

;)

Pp.
Posted at 31/10/2009 19:09 by pingu08
lol

10M shares floated at 39p in 2004

Sold for £1.2bn to ONGC in 2008 for approx £12 per share

Read timeline below from 2004 if you can be bothered for a few highlights or read the RNS's....
Posted at 22/4/2009 13:45 by spec12
Hi all, hope you are all doing well and avoiding Russian sticks !1 ...Looking to spend that hard earned IEC profit...

Mirabaud released BUY note this morning as follows
Our valuation is based on a discounted cash-flow analysis of the Moma project, using the revised production forecasts and assumed prices (details in table in attachment) and an assumed life of 30 years. This gives a project NPV of US$1.35bn and, after adjusting for net debt at end-2008 of US$294.3m, a total valuation of 85.6p per share (81.7p fully diluted on 863.4m shares). This represents a 501% premium to the current price, and we reiterate our Buy recommendation.
Posted at 13/1/2009 17:18 by orvis
re What oil company to invest in now

I recently promised myself the following

i) not to invest in Russia based oil stocks
ii) not to invest in heavily indebted oil companies eg Oilexco, Urals
iii) not to invest in small oilers who do not have the funds to finish exploring/appraising let alone developing to production a field or fields
iv) not to invest in oilers when the crude oil price is falling i.e. now, only when its bottomed (low $30's?)
v) to be prepared to sell an oiler whose share price has gone up because the crude oil price has shot up for no good reason eg because of the Gaza conflict (currently close to 100% in cash!)
vi) for now buy only producers with good cash positions VPC DNX TLW DGO etc but only when the oil price is lower
Posted at 06/1/2009 13:45 by katsy
0% none, zilch, nada

the deal is now signed and delivered and voted for by 97% of shareholders.

But this share is unbelievable, just like I've never seen such discount on the offer price like we had here. I've also never seen the share price above that of an agreed offer price.

It would be interesting to know how many more shorts are left to cover.
Posted at 30/12/2008 20:55 by cliffyburger
With IEC's share price closing at 1205p, this is clearly a done deal. Otherwise, the share price would not be within 4% of the takeover price. Nevertheless, my spreadbet is such that I intend to hold on for the extra 40p or so, as it means a few grand more!

Once the dust has settled and I have banked my IEC profit, I intend to recycle some (if not all) back into four of my current holdings, namely:

* Ladbrokes (LSE: LAD)
* Lamprell (LSE: LAM)
* Leisure & Gaming (LSE: LNG)
* Titan Europe (LSE: TSW)

Ladbrokes you know well, yet it trades on a low P/E and high dividend yield.

Cash-rich Lamprell should be familiar to those who follow the oil-services sector, and I eagerly await the trading update on 9 January (ten days hence).

Micro-cap gaming firm LNG trades at 3.25p/4.25p at present, but I value the shares at nearer to 20p. I am the largest individual shareholder in this firm.

Finally, a rival firm recently bought almost a quarter of TSW at 40p a share, versus the current price of 16p/18p.

It's been a pleasure dealing with you, IEC owners. The best of luck to you all for 2009 and beyond. :0)

Cliff D'Arcy
Freelance Financial Journalist
Posted at 30/12/2008 14:05 by katsy
June 2005 was my entry point into IEC. If ONGC know the result now it would make sense for them to be buying anything that goes in the market, it will save them money. The share price will begin to act like any other takeover where it hovers just below the bid price as the offerer mops up cheap shares.
Posted at 28/12/2008 22:14 by cliffyburger
The FT article:

ONGC nears bid approval target for Imperial
By Philip Stafford in London and Joe Leahy in Mumbai

Published: December 28 2008 18:34 | Last updated: December 28 2008 18:34

Imperial Energy is closing in on the 90 per cent level of acceptances it needs to seal its takeover by ONGC Videsh, part of the state-owned Indian oil company, as a key deadline approaches.

The deal is the first attempt by ONGC to buy a London-listed company.

Shareholders have until 1pm London time on Monday to accept ONGC's £12.50-a-share offer for Imperial, an energy explorer with most of its assets in Russia.

Imperial has received a flurry of acceptances from shareholders in the past few days in spite of the Christmas holiday, and expects to receive more today, the final full business day available.

The deal values the UK group at about £1.3bn. However, rumours have persisted that ONGC had been looking to withdraw from its original offer.

The price of crude oil has dropped by more than two-thirds from $128 a barrel when the approach was made in August and this month ONGC failed in a bid to delay making an official offer.

Under Takeover Panel rules, ONGC was not allowed to withdraw or reduce its bid. However, if it fails to breach the 90 per cent threshold, it would be able to walk away.

The fears have been enough for Imperial's share price to trade at a discount of more than 20 per cent to OCNG's offer. Imperial's closing share price on December 24 was £10.20.

"Our position has not changed. We are well aware of our obligation to capital markets and shareholders," a spokesperson for ONGC said. ONGC has had a reputation for failing to act swiftly enough to seal takeover deals, because it is under close political scrutiny.

However, analysts warn it will be next to impossible for the Indian government to back out without putting at risk the Indian government's reputation as a business partner.

India's oil minister Murli Deora lobbied extensively with the Russian government to get the deal through and would be reluctant to put a relationship with one of the world's greatest oil producers at risk by reneging.

India is desperate to find more oil and gas domestically or to secure its own resources offshore to curb its dependence on the global market.

ONGC is buying Imperial for its potential growth. It has probable and possible reserves of 3.4bn barrels of oil equivalent and is planning to lift production to 80,000 barrels a day by 2011.

Copyright The Financial Times Limited 2008
Posted at 24/12/2008 12:46 by cliffyburger
The simple reason why ONGC is insisting on 90% acceptances for the takeover to succeed is that it doesn't want to pay 1250p a share for IEC, because the oil price has fallen by two-thirds since its initial approach. Hence, by setting the bar as high as Takeover Panel rules allow, this gives ONGC an excuse to walk away.

As things stand, IEC is now a binary bet with two outcomes:

1) 90% acceptances are reached by 1pm on Tuesday, the bid succeeds and we all get 1250p a share; or

2) acceptances fall short of 90%, ONGC pulls out and IEC's share price falls to, say, £5.

As things stand at present, the market is pricing in a roughly 69.5% chance of the bid succeeding. One way or another, we'll find out on 31 December at 8am...
Posted at 20/12/2008 08:16 by miamisteve
Re - Midas in the Mail.

He seems to be banking on an 80% fall in the share price as he quotes sibir's demise. (leave aside the fact that sibir have decided to take on $700m of liabilities)

So £2 target.

Roughly speaking he is considering it a good bet at the current price if the share price falls to £2 on failure to reach 90% acceptance. A £7.60 win. If it goes ahead he loses £2.60. Punching in the numbers it's uncovered that for the current price to favour a short he needs a 24%+ probability of a no 90%.

If the share price were infact to drop to £5 than the current shorting risk reward would only pay off if the odds of not reaching 90% were 40%+.

Fact is the share price will not go to £2 and the probability is not 24%.

Even if the share price was to go to zero if the tally didn't reach 90%. The current share price of £9.90 with a return of 27% is discounting a 20% chance of not reaching 90%.

Risk reward says this is a screaming buy.
Imperial Energy share price data is direct from the London Stock Exchange

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