Imperial Energy Share Discussion Threads

[sailor9] 31/12/2008 09:48

I wish happy New Years celebrations to all Imperial Energy longs.

Thanks to all, who worked on the Take Over project.

I try to chill out now. Shall keep on watching things. Final comment from my side, after cash is on my accounts.

So long - Cia

[miamisteve] 31/12/2008 09:44

Yuka - Hilarious. His system seems to earn money part of the time, but he hasn't figured out which parts they are.

[wshak] 31/12/2008 09:37

I certainly had no trouble closing out at £12.48 for a welcome 35% gain in little over a week in what has been an otherwise terrible year. Since the position was leveraged, the extra 2p probably wouldn't cover the interest charges so little point in waiting.

I did ask my broker if there was any problem closing out since I'd assented the shares but he said not after checking so I sold.

I'm actually quite surpised that they only got 97% of the vote - I was expecting even more, given the campaign to get votes in. A good example of the hysteria that's hit the sector, however, if 30%+ can be left on the table like this.

[yuka] 31/12/2008 09:32

LOL Bill Daly aka Rex Taurus still working on his holy grail system I believe although doubtless posting under another name somewhere. Maybe another 5 or 6 years to perfect it....

[miamisteve] 31/12/2008 09:27

Yuka - Thanks for the offer, but think West Ham are in greater need of them at the moment.

Seems we've gone full circle now since the invensys days. Is that Bill Daly fellow still around?

[yuka] 31/12/2008 09:13

Just seen this in case anybody is interested in the poor plight of ONGC shareholders.....

0847 GMT [Dow Jones] ONGC (500312.BY) off intraday low of INR656.30, remains down 1.2% at INR663.00 after its overseas investment unit, ONGC Videsh says Imperial Energy (IEC.LN) shareholders representing 96.8% of its share capital have accepted its buy offer of 1,250 pence per share. People tracking transaction believed ONGC could walk away from deal if it didn't get acceptance from holders of least 90% of Imperial shares, due to sharp fall in crude prices since offer made in August. However, in long run if crude prices again start rising, Imperial buy could look attractive, some dealers say. "In the short run investors would like to sell the ONGC share, as long as crude remains around current levels...we feel that crude should average at about $50/bbl in 2009, and can rise above average of $70/bbl in longer run," says local analyst. On long term basis says fair value for ONGC stock around INR1,000, though investors would have to wait a long time to get that price. Stock tipped in INR645-685 range today. (RKU)

Contact us in Mumbai. 91 22 2288 4212-18;
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[wapper] 31/12/2008 09:12

Closed out my T20 @ 1248p for a nice £4k profit.Didn't accept the bid as T20 was due for settlement today. Happy New Year to all posters.

[yuka] 31/12/2008 09:12

Yes Steve 23rd I seem to remember and yes I did sell before 1pm gradually all morning although did trade it a few times in the afternoon after the Dow Jones report.

You know me from the past - used to get the jitters at holding more than an hour or two. I now hold days or occasionaly weeks but that was a bit too long to tie myself in for especially after the unpredictable year we've had.

PS sorry been a tough year. Do you want me to lend you some "chicken pennies"? ;)

[madjock2] 31/12/2008 09:05

Morning guys

Had a bit of a sleep in due to circumstance beyond my normal consciounsness levels. Nice to see it official.

Well done to everyone. Happy hogmany and best wishes for 2009!

PS

Thanks LS

PPS

[miamisteve] 31/12/2008 09:02

Stuart - The problem Yuka had was that his CFD provider was forcing him to make a decision by the 23rd, when the deadline was the 30th. I don't know if he sold before one o'clock.

Strangely enough this actual anomaly where trading shares would be left in limbo was the only scare story that didn't manage to surface during the run up to the deadline.

[sailor9] 31/12/2008 08:58

...Settlement of the consideration to which any Imperial Energy Shareholder is entitled under the Share Offer will be despatched either on or before 13 January 2009 ...

from the steelwatch link:

[stuart14] 31/12/2008 08:49

Yuka, not trying to be quaint. I considered taking your stance, but realised that if everyone took it the deal would fail. Every vote counted. You made sure yours didn't. I made sure mine did. Thankfully most took my view.

I'm glad we all made money so agree that is the end of it.

[miamisteve] 31/12/2008 08:47

Benny - still too burnt from 2008 to describe myself as happy. But this payday puts me back at the table.

Didn't get through to that bloke. btw. Will try again in the New Year

[jelenko] 31/12/2008 08:45

Look it's obvious why some voted no, They were for trading. selling today before settlement is due. In fact they didn't vote no, just wanted to be able to close the purchase before settlement. They probably also own shares for which they voted yes.

[yuka] 31/12/2008 08:44

How quaint for a financial website.

Trading is not about respect but making money and balancing risk and reward.

Anyway, enough said. Glad for all that it worked out in the end. Would have been very painful otherwise. Shame not one last big trading opportunity though!

[leedskier] 31/12/2008 08:40

Well done Stuart and Madjock. You kept the faith when most (including me) at various points over the last 18 months lost theirs.

[stuart14] 31/12/2008 08:39

Yuka, no of course not. But if everyone had taken your view then the deal would have failed. You've taken advantage of other shareholders faith in the Co. I'm not saying it was a bad move, but I don't respect it.

[imperial3] 31/12/2008 08:38

Now,have a look at some bombed out shares,NOP,and EME.As usual,DYOR,INMHO.

[benny62] 31/12/2008 08:37

Miami....HAPPY ?????????

[yuka] 31/12/2008 08:37

Stuart - I take it from your sense of responsibility to other people if I had voted yes and the deal had failed you would have compensated me for my loss at not being able to sell immediately?

[davius] 31/12/2008 08:37

> I want to know why 3.2% voted NO. So we do have total cretans aboard!

More likely that they just failed to vote yes by the deadline.

Good start for 2009 anyway. All that worrying for nowt, and the shorts burned to a crisp too. Oh happy day.

[stuart14] 31/12/2008 08:32

Miami, yes they are at an advantage for now, for 2 weeks, but their stance put the whole deal at risk. I've no respect for that.