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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Elec.& Gen.It | ENG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 387.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 387.00 |
| Top Posts |
|---|
Posted at 30/12/2010 16:28 by dbh1234 Guys, you might like to take a look at this one for lots of activity in the New YearI have taken the liberty of copying a useful post from the Stockhouse BB... Here is why EnerGulf is set to explode upwards: Management - a proven management team with an oil & gas track record. A stable board of directors, headed by Jeff Greenblum, who is a seasoned and well respected oil & gas expert. Castanha-1 & Castanha-2: ROC Oil out of Australia reports that immediately adjacent to where EnerGulf is preparing to drill on the Lotshi Block, it has encountered Hydroncarbons. The flow test on the Castanha-1 well flowed at 2,275 BOPD through a 5/8" choke - and it's light oil, 33 API. That formation appears to be 15m in the Chela formation. Catsanha-2 encountered 21m in the same Chela formation, which they've suspended testing until they are done drilling Catsanha-3. When they re-enter Catsanha-2, and test it's flow-rate, chances are extremely good that they will report a flow rate that is well above 2,275 BOPD - which should send ENG.V shooting higher. They've been drilling Catsanha-3 since September and should be done any time now. Kunene #1 - Once this information is fully evaluated, it is entirely plausible that additonal drill targets will be identified. With ENG.V now as the operator, there is a huge upside potential here. Capital Structure - There are only about 58M shares outstanding, giving it a tiny market cap relative to the size of potental asset value. Current market cap is $59M. The Price of Oil - Economics. $91 oil - world reserves of conventional light crude are depleting at an ever increasing rate, and the price of oil is steadily rising as a result. Investors will flock to where the "new oil" is - and EnerGulf could be sitting on a massive reserve of light sweet crude. Infrastructure - A discovery at the Lotshi block would not be out in the middle of nowhere. Major operators have substantial operations in close proximity to the Lotshi, so bringing this oil to the world would not be a major undertaking but a routine expansion of the areas existing production capabilities. Light Oil - 33 API is the best there is. No price discounts and marketable everywhere. Cash - A recent private placement @ .40 raised $3.22M. Warrants are at .65 (well below current share price of $1.05) - meaning that cash proceeds of an additional $5.23M will be realized when these warrants are exercised over the coming months. That means ENG has $8.45M in new capital to work with. This is enough to drill. Investor Relations & Promotion - Progressive Investor Relations has worked with EnerGulf a long time. They are good at relating to the story and understand it completely. For these reasons, I'm in to ENG.V. Look for significant upside in the near future. |
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