RSS

Bid approach for Imperial Energy

Article Date:  Jul 14 2008

Imperial Energy Corporation has received a bid approach, believed to be from Indian state oil group ONGC.

The fully listed company, which has registered Russian hydrocarbon reserves of 450 million barrels, has confirmed an approach – ‘which may or may not lead to an offer’ – without naming its potential suitor, in response to mounting City and press speculation. Imperial, chaired by Peter Levine, has proved a volatile counter, soaring from 302p three years ago to £18.14 last January, before falling back sharply.

Now 948p, up 176p this morning and valuing the company at £971.3 million, the shares have more than doubled since Growth Company Investor recommended them in 2005. Hold on.

Save 50% off your first year’s subscription to Growth Company Investor magazine, and gain immediate access to all the recommendations online. Click here.

 

This story is from Growth Company Investor, the independent voice on fast-growing companies. Subscribe today for the latest AIM recommendations.

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: Small-Cap Spotlight

Record output at Cluff

Potential bid candidate Cluff Gold produced 19,288 oz of gold in West Africa in the first two months of the year.

Brainspark takes football stake

As foreshadowed in the latest Growth Company Investor, investment minnow Brainspark is buying into Italian football club AC Ancona.

New hope for China Evoline

AIM shell China Evoline is understood to be contemplating the injection of some Chinese mining assets.

Advertisement

Related articles

Plexus extends BP contract

BP Egypt has renewed a £1.6 million-a-year wellhead systems contract with oil and gas engineering concern Plexus Holdings.

Hallin wins Global deal

Oil and gas services specialist Hallin Marine Subsea International has won a £5.5 million order from US group Global Industries.

Loss surge at Synchronica

Mobile email software provider Synchronica sounds upbeat despite an 87 per cent interim loss increase to £2.8 million.

Verification cheers Hydrodec

Recycled oil transformer pioneer Hydrodec reports its ‘SuperfineTM’ product has completed independent quality assurance verification.

Poll

What should Alistair Darling deliver in the Budget?




Have your vote on current issues

People who read this also read

  • NewMedia SPARK in 4th Contact

    High-tech investment vehicle NewMedia SPARK (NMS) has invested £1 million in 4th Contact, a developer of software applications for employee benefits. William Davidson reports.

  • Swiss firm takes to the floor with UK company

    A Swiss-based flooring systems specialist has extended its network with an nine-figure acquisition in the UK. Forbo bought Bonar Floors, a contract flooring business, from specialist materials group Low & Bonar, for £123 million.

  • ReneSola secures £83m

    ReneSola Ltd, the AIM-traded manufacturer of solar wafers for use by the solar power industry, has announced that its wholly owned subsidiary, Sichuan ReneSola Material Co, has secured RMB800 million (£83 million) from China Construction Bank. 

  • Export award and order boost for Spectrum

    Spectrum Technologies, Ofex-quoted supplier of laser-based wire marking systems for the aerospace industry, has won a significant export award and three major new orders, writes Ben Cobley.

  • EC2 in Daniel Stewart merger talks

    Ofex-traded EC2 Investments has had its shares suspended at a depressed 2p as it discusses merging with adviser Daniel Stewart, which originally brought it to Ofex two years ago, writes Robert Tyerman.

White Papers

12 Key Points to Consider When Selecting a Network Scanning Solution

Discover the 12 key points your company should consider before you evaluate and select a vulnerability assessment solution.

1Z0-040 Oracle Database 10G New Features for Administrators Practice Exam

Oracle 9i administrators can certify on Oracle 10G by passing this exam. The ExamForce 1Z0-040 Oracle Database 10G New Features for Administrators practice exam provides their unique triple testing mode to instantly set a baseline of your knowledge and focus your study where you need it most.

4 Ways to Unlock Your Employees' Performance Potential

Discover four proven ways you can tap into the full potential of every employee.

More