Energulf Resources Inc. ENGFF

RE: RE: New delay

[Columbus1494]

Now it seems that the first news we will hear will be about 1711.The third quarter starts on friday.The results
should not be delayed so much.The question is why Jeff Greenblum bought shares recently.
In the last newsrelease they said they would start drilling in september and all of a sudden they say there
is a possibility they will start in 2012.Jeff probably knew this when he bought shares.Imo the buy was a signal
to the share holders.Maybe the results from 1711 will be very good?
What could the reason for the sudden delay be?Maybe future investors/partners want to know more about 1711
before they commit to investing?
In one way its dissapointing that there is a possibility of a delay at Lotshi but in another way it could be positive.
In the meantime they could advance 1711 so that they will have a drillsite ready in 2012.For those who are patient,the share price would react positively if ENG had two projects ready at the same time.
SOCO initially planned to drill 2 wells at Nganzi this fall but they postponed the drilling to next summer.
Soon they are going to start new seismic studies.They are specially interested in the Chela formation.
Probably they will need 3D for this.If ENG is going to use the same rig as SOCO ENG needs to start drilling early
in 2012 at the latest.ENG also said they could expand the number of wells to more than 3.