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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Imp. Energy | IEC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1,253.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,253.00 |
| Top Posts |
|---|
Posted at 22/4/2009 12:45 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 09/3/2009 15:58 by stuart14 Good Bye IEC. Never had more ups and downs than with you. Thanks for finishing on a high!Good Luck Peter and the guys. |
Posted at 09/3/2009 08:45 by katsy Is Tullow the next IEC |
Posted at 09/3/2009 08:10 by madjock2 Thanks for a great ride IEC. Good luck to all staff and ex shareholders. |
Posted at 05/1/2009 17:03 by dasv Thanks to all posters - I only found about IEC in summer 2007 - appreciate all research and contributions to this thread. All came good in the end. Anyone know how come IEC mid price is above 1250p? (1257) |
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 24/12/2008 13:45 by cliffyburger orvis, you misunderstand the nature of these takeover deals.If a bidder for a company achieves acceptances falling short of 90% of the shares in issue, then it can walk away without stating any reason. Of course, most don't, since they genuinely want to acquire the target company. Instead, the bidder agrees to extend the acceptance period, in order to secure 90%+ of the shares, at which point they must compulsorily purchase the remainder. ONGC Videsh does NOT want to take over IEC at 1250p a share, because the price of oil has plunged from $120 a barrel to $40 since it approached IEC. However, it was forced to bid by the Takeover Panel. Hence, the only legitimate way for ONGC to walk away from a firm offer is if the 90% threshold is not reached. In conclusion, the 90% figure comes from the Takeover Panel's general rules, and not from any specific contractual term agreed between ONGC and IEC. I hope this makes sense. ;0) Cliff |
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 18/12/2008 12:27 by monkey51 interessting conversatio0n on Alphaville this morning. Talk of momentum and shareholders becoming more comfortable. Interesting also on borrowed stock -how this doesn't seem to be a problem. alphaville NH: Right questions below about Imperial Energy NH: Reports this morning that 60% of shareholders have tendered for the offer are wide of the market I am assured NH: however, the trackers funds have tendered NH: Legal & General NH: BGI NH: it is also possible to trade tendered stock NH: apparently this could happen in any takeover in the UK but rarely does NH: basically it means, that instead of tendering and waiting there with your fingers crossed hoping the deal goes through NH: you could trade out of it, if you were worried the deal could fall apart NH: assuming a buyer could be found and this is a matched bargain facility NH: anyway NH: it does seems as acceptances are moving higher NH: the biggest threat to this deal is from borrowed stock i guess NH: if some could borrow, keep the rights and then sell the underlying NH: perhaps they could scupper the deal NH: Polygon have done this before, in Telent NH: but the borrow in IEC does not look that high at the moment NH: and most of it is probably a hedge for convertible bond positions NH: so the recent increase in borrow NH: could be done to delta hedging by CB NH: other things to mention on this NH: given Xmas etc NH: the soft closing date on this deal is really Dec 19 NH: if there is no early statement by ONGC after the weekend that it has already received the 90% acceptance level, things could get interesting Imperial Energy Corp (IEC:LSE): Last: 974.50, up 13.5 (+1.40%), High: 987.50, Low: 960.00, Volume: 318.52k PM: hmmm PM: Fascinating situation that PM: Closing tomorrow PM: effecitvely NH: yep NH: and if the 90% level is not met, the Indian's will prolly walk 11:38AM NH: (Daddy that is a fascinating idea on IEC. ONGC raid the market for 10%, paying £12.50, and then vote down the deal. Sit on 10% for a while, then come back and bif at a lower price. Wonder if that's poss). |
Posted at 08/12/2008 14:08 by 5mally I understood offer in August tied IEC to committing to the deal with OONGC, IEC were no longer allowed to discuss sale with other possible buyers / both iec and ongc agreed . there were pre conditions / which have been fulfilled ......now Indians saying that might revise the bid ??? they will lose credibility if they pull out. If the oil pprice had risen to 200 dollars would they be upping their offer or could IEC demand a higher price .... no ... what are these Indians doing???.... |
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