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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 Columbus1494on Jul 24, 2011 3:17pm
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Post# 18866569

RE: RE: Would HRT be interested in buying ENG?

RE: RE: Would HRT be interested in buying ENG?Yes it seems that Sintez  wants ENG and PetroSA to pay more than they should.According to a Russian article Sintez last year proposed a work program for the next 2 years,according to their proposal the JV would pay 270m$ for the program that expires in march next year.According to the article they would apply for a production license after that period.Sintez was to pay 135m$  and ENG and PetroSA together 135m$ instead of only 27m$ each according to their share interest.The Russian proposal was not accepted at the JV commitee meeting,they only agreed upon a work program for the first year that ENG now completed.They should now have a JV meeting to agree upon a work program that expires in march next year.The Russians could be forced to pay what they ought to being threatened by loosing their license when it expires next year.
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