Russia Approves ONGC's Acquisition of Imperial Energy

BANGALORE, INDIA--November 14, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Having secured the necessary approvals for the acquisition of Imperial Energy Corporation plc (LSE:IEC) (London), India's ONGC Videsh Limited (OVL), the overseas investment arm of Oil & Natural Gas Corporation (BSE:500312) (New Delhi) is currently in the process of sending offer documents to the shareholders of Imperial Energy within the stipulated timeframe of 28 days. The Russian government has awarded consent for the ONGC takeover according to anti-monopoly regulations.

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