Just adding my 2 bits to what Imperial said:What makes IMP such...

Just adding my 2 bits to what Imperial said:

What makes IMP such a desireable takeover candidate..?

* fundementally sound business. Natural gas in Northeastern USA ...Recession/Depression proof business
* undervalued due to the mob on the Market not having noticed it ...probably because it is an Aussie Company ...but it is drilling "over there" and not "here"
* low SP due to someone playing ducks and drakes with the downselling short at the moment ...possibly with a view of discounting the takeover price of the shares ...when they go for it bigtime
* has gas producing wells ...140+ commercial wells ...60% hedged and 40% enjoying the recent $7 to $13+Mcf price sales rise
* has large acreage of productive leases yet to drill ...over 150 positive Pud sites identified for drilling
* already connected to grid in the biggest most profitable markets of Washington, New York, etc. Very low cost connnection to the grid due to massive close proximity of pipelines ...unlike the dangerously hairy sites in the Gulf of New Mexico
* already pumping gas into the biggest gas marketplace in the world
* are to be part of the Marcellus rush ...Announcement due any day now
* have their own drill rig and crew ...very experienced. They have drilled 25 out of 25 successful wells so far ...100% success rate
* We expect the positive results of current well No.6 any day now ...late this week or early next week.
* rig and crew already on the ground on leases ...yes, and 13 more positive Pud sites formed and compacted ready to speed drill in this current programme over the next 2 months
* have a great foothold in the USA market
* Management have advised that the sale of BMX shares have gone through and $14million will be injected into the Company bank account in the next 2-3 days;
* Loan money of $4mil will be paid out upon receipt of the $14mil, which means $10mil+ clear nett funds into bank account
* Excellent cash flow from the current wells
* Top Managers of the Company hold large slabs of shares and plan to be long time holders;
* Marcellus tenement lease to be announced in the next few days. Huge rush is on by the big companies to drill Marcellus, being made available only to the best and brightest Companies ...IMP being one of them
* $100mil Line of Credit from Macquarie bank at only 8% interest rate ...should they complete their current negotiations to takeover other small time successful Naturarl Gas Company/ies in the neighbouring region of the USA


anyone care to add..?