This is a totally unloved stock with no real buyers around and the customary three or four new sellers each day - it seems nothing is going to change this downward drift.
I'll take a guess at the newsflow for Dec - 1)A mid-sized but smaller US acquisition than the one done last Dec. probably focused on oil assets rather than gas. 2)Buy-out the US minority(8%)shareholders in Empire Energy with shares of IMP. 3)Proposal to change IMP's name to Empire Energy. 4)Change Balance Date to 31Dec from 30Jun. 5)Promotion of their NT/Qld shale leases. But will any of this fire up the shareprice?Probably not! The best time to buy a stock is when it's unloved but you have to see an event in the future that will make players fall in love - maybe they'll IPO Empire Energy and list it on the TSX(Toronto)in Apr2011 - they value positive cashflow companies more highly over there.
IMP Price at posting:
8.3¢ Sentiment: LT Buy Disclosure: Held
