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IPM, INCREMENTAL PETROLEUM LIMITED
pacestick
post Posted: Feb 6 2009, 10:43 AM
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In Reply To: pacestick's post @ Feb 5 2009, 01:53 PM

COE have accepted the offer which probably will get TA above 50%. Im selling and will use the proceds to average down particularly in UNI and flx

 
pacestick
post Posted: Feb 5 2009, 01:53 PM
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In Reply To: pacestick's post @ Jan 23 2009, 06:28 AM

TA have increased the offer and made it unconditional

 
pacestick
post Posted: Jan 23 2009, 06:28 AM
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TA has extended the time of their bid to the end of Febuary apparently they have been in touch with cooper but cooper of corse is not selling. It may eventually f get interesting

 
triage
post Posted: Oct 31 2008, 10:18 AM
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I see Cooper put out a letter to IPM holders today promising "certainty" if only they'd take up the COE offer by 7 Nov...

If I wanted certainty I'd be sitting on a pile of cash and wouldn't be frequenting the world of junior oilers. tongue.gif




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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
mullokintyre
post Posted: Oct 30 2008, 06:09 PM
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In reply to: triage on Thursday 30/10/08 01:25pm

Ah, of course there is that option. My apologies for not including it. In this current climate, I would hesitate to second guess what investors might do.


Mick



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sent from my Olivetti Typewriter.
 
triage
post Posted: Oct 30 2008, 01:25 PM
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In reply to: mullokintyre on Thursday 30/10/08 11:40am

Mick

QUOTE
Investors in IPM have to decide whether they take an unconditional offer from COE and get their dough within 14 days, or wait for an as yet undefined offer that may or may not be better.


...or take up the third option and sit pat. As Menzies once said often the best decision is to not make a decision. I'd rather stick with IPM's current management for the time being rather than start paying Michael Scott's salary sooner than I have to.

Been away from things for a week or so but isn't the COE deal as dead now as it ever was?



--------------------
"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 

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mullokintyre
post Posted: Oct 30 2008, 10:40 AM
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In reply to: veeone on Wednesday 29/10/08 06:59pm

There is no offer from Transatlantic. They said they WILL make an offer. There is no guarantee that they will actually do so, nor is there any guarantee that the offer will be an all cash one at 1.05. The COE offer is the only one on the table, and its unconditional. The COE offer will have closed before Transatlantic have even submitted their bid. COE currently have 22% of IPM. Transatlantic in their statement said it will contain conditions. One of them, was getting 75% of the shares. Hard to see them getting that if they make a real offer when COE has 22%. The third suitor possibility is hot air. Investors in IPM have to decide whether they take an unconditional offer from COE and get their dough within 14 days, or wait for an as yet undefined offer that may or may not be better.
Good luck
Mick



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sent from my Olivetti Typewriter.
 
veeone
post Posted: Oct 29 2008, 06:59 PM
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Incremental hints at third suitor
October 29, 2008 - 6:45PM
Takeover target Incremental Petroleum Ltd says it is possible a third suitor may be planning a bid for the junior oil producer.
Incremental also said it had asked its independent experts KPMG to broaden its review of Cooper Energy Ltd's $80 million bid to include a second, $83.7 million offer from Canadian firm TransAtlantic Petroleum Corporation, which was launched on Monday.
"The board will continue to look at all opportunities to provide maximum value to shareholders and believes it is possible that other parties with an interest in Incremental and its assets may come forward," Incremental chairman Chris Cronin said.
Incremental continues to advise shareholders to reject Cooper's final and unconditional bid, which it says is "neither fair nor reasonable".
Oil and gas minnow Cooper is offering 3.1 of its shares for each Incremental share or 50 cents cash plus 1.9 of its shares for each share in the target.
The offer values Incremental at between $65.5 million and $80 million based on Cooper's share price of 26.5 cents.
TransAtlantic's cash offer is $1.05 for each Incremental share and is conditional on a minimum acceptance level of 75 per cent.
Incremental has advised its shareholders to take no action in relation to this bid.
Shares in Incremental inched one cent higher to 98.5 cents.
> Wonder if the other party will eventuate???
V1



 
albion
post Posted: Oct 21 2008, 10:47 AM
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In reply to: healyn on Thursday 09/10/08 08:38am

You really have to feel sorry for IPM suggesting a valuation up to $4.18 against a s/p of only 82cents. COE offer looks like daylight robbery but IPM cannot do much about it as they are well and truly over a barrel. These smaller undervalued oilers have very little defence against low t/o offers. Its just like 10 years ago and we are going to see a lot more hostile t/o merger activity with the smaller companies crying we are being robbed. But in the end they get taken out at bargain prices.

 
healyn
post Posted: Oct 9 2008, 08:38 AM
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In reply to: ShakeWell on Wednesday 08/10/08 09:55pm

Nice post SW. Probably what you missed in the disclaimer is that nobody at IPM is responsible for the accuracy or truthfullness of what is contained in the document.
The $3.39-$4.18 valuation is OK in a perfect world, however as we all know what is happening now is certainly not perfect and the market places its value of IPM at the price it is at now.

Cheers and good luck with whichever action you take.



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"Good judgment comes from experience, and a lotta that comes from bad judgment.
 
 


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