Imperial Energy Share Discussion Threads

[katsy] 29/12/2008 16:04

I will speculate that we won't get anything official until either late tomorrow or first thing on the 31st. IMO Market still doesn't know but is confident judging by today's trading.

[squintyflinty] 29/12/2008 16:04

Katsy ,I am sure that they can be tendered by a phone call followed by written authority.

[squintyflinty] 29/12/2008 16:01

If so we will definately get that formal RNS tomorrow morning.

[katsy] 29/12/2008 16:00

All these shares traded today, can they be tendered?

[sailor9] 29/12/2008 16:00

UPI names no source for its first sentence. Strange indeed, either UPI was mislead or some insider knowledge had leaked.

imho: Share price reflects how deep the standing of ONGC has fallen on the markets already.

[alexx] 29/12/2008 16:00

sq - I'm guessing the 1st para. is just badly worded

[shiny1000] 29/12/2008 16:00

NEW DELHI, Dec. 29 (UPI) -- A deal for the acquisition of British oil exploration firm Imperial Energy by Videsh Ltd. is 90 percent approved by shareholders as a deadline nears.

Well that says it all!!!!

[superyids] 29/12/2008 16:00

Hi Squinty

Can i ask are you holding in shares or spreadbet postion - are you that confident that you have quite a big holding or position!?

[imperial3] 29/12/2008 15:58

Would you consider this an authorative source?

[squintyflinty] 29/12/2008 15:56

Does this mean that the 90% threshold has now been reached???

[imperial3] 29/12/2008 15:52

The price will change very rapidly as news unfolds.

[phar lap] 29/12/2008 15:49

NEW DELHI, Dec. 29 (UPI) -- A deal for the acquisition of British oil exploration firm Imperial Energy by Videsh Ltd. is 90 percent approved by shareholders as a deadline nears.

Videsh Ltd., a subsidiary of the Indian Oil and Natural Gas Corp. Ltd., announced in early December it offered $2.07 billion in a government-backed takeover bid, the first such attempt by the Indian firm.

Shareholders of Imperial voiced their approval of the measure despite limited market activity during the holiday season.

ONGC is not permitted to withdraw or reduce its bid, but if it fails to reach enough shareholder support, it can remove its interest in the deal. These rumors, markets concerns and the declining value of crude sent Imperial shares down 20 percent since the initial deal was tendered, The Financial Times reported Monday.

Observers note the Indian government is unable to walk away from the deal for fear of tarnishing its reputation as New Delhi scrambles to shore up domestic energy resources.

"Our position has not changed," said an ONGC statement. "We are well aware of our obligation to capital markets and shareholders."

Imperial boasts potential reserves of some 3.4 billion barrels held mostly in Russia. Shareholders have until Tuesday to accept the deal.

[squintyflinty] 29/12/2008 15:48

Hi debbiegee.That's all I know is that we're almost there,and with Jarvis and other investment companies submitting the votes this morning,I expect an RNS first thing tomorrow.Any news your end?

[debbiegee] 29/12/2008 15:25

HI SQUINTY FLINTY,have you got your ears to the ground today ?

[shiny1000] 29/12/2008 15:12

Up and down like katsy's knickers

[scoble2] 29/12/2008 14:58

IEC now shown as IECA (td water house) is it possible i can put a stop loss or limit to product myself. please input your thoughs.

[debbiegee] 29/12/2008 14:36

Is that not what Merryl Lynch are doing ?

[17john17] 29/12/2008 14:15

Is there an independent agency accounting for the shares submitted for acceptance.
Can't be left to the shy bride I hope?

[shiny1000] 29/12/2008 14:05

Anyway I'm not that massive!!!!!!!!!!!!!!

[shiny1000] 29/12/2008 14:04

LoL !!! Katsy.....

[katsy] 29/12/2008 14:02

Is that when you put the porn movie on shiny1000?

[shiny1000] 29/12/2008 13:54

it will rise massively around 4pm!!!

[imperial3] 29/12/2008 13:43

Just what I said!!!

[shiny1000] 29/12/2008 13:39

Volatility till the last...what a share!!!!