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Energulf Resources Inc. ENGFF

Energy
Energulf Resources Inc is an oil and gas exploration company. Along with its subsidiaries, the company acquires and develops oil and gas projects in the Gulf of Mexico in Africa and Albania. The company's assets are located in Canada, Namibia, Albania and the Democratic Republic of Congo. Majority of the revenue is derived from the properties in Canada.


GREY:ENGFF - Post by User

Energulf Resources Inc.
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Comment by shleevoon Apr 03, 2009 2:29pm
297 Views
Post# 15895043

RE: RE: RE: RE: RE: RE: The new exercise price

RE: RE: RE: RE: RE: RE: The new exercise priceNo thanks.  If they want to "Slap Me" as you put it, or punish shareholders and dilute their company shares out of spite , I'll move on.  I don't however believe that is their intention.  What you are suggesting is ridiculous.  They have enough cash on hand to make progress on DRC and complete seisemic which is what they are doing.  If they get a JV, you can almost guarantee they will be raising money through a share offer by the time they drill the first well, and by that time the shares will be more valuable. 

The only vote of confidence they need from me is that I'm still a shareholder and waiting patiently for them to make progress in the DRC.  The current market conditions are changing as we speak and many of these options are good until 2012.  I disagree with their decision to adjust them @ 40cents and it's my right as a shareholder to vote against it. 
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