Energulf Resources Inc. ENGFF

Out of funds and delisted.

[Beenburned64]

So many venture companies end this way. The stock drops from dollars to pennies with private placements at progressively lower valuations along the way as managent keeps furnishing themselves with a nice salary and they string along shareholders with periodic news releases to keep waning hopes alive. Eventually the share price is so low that it becomes impossible to raise enough money to advance any sort of project and then comes the delisting. It all seems liike an elaborate scam carried out over many years and leaving countless bagholders in the lurch. To add insult to injury sometimes the key players leave the carnage behind and start another TSX venture company. New name, same game and the cycle goes on.

[wallywill]

"EnerGulf Resources Inc. is an international oil and gas exploration company focused on targeting high impact opportunities that present explosive growth potential for shareholders." Yah sure it is. 

[Moemoney42]

I've tried to reach them but no-one is returning any emails - checked the BOD list to see if I could track anyone down for an explanation but haven't had much luck. If anyone has details on where these dirt bags have slithered to I'd be interested in that info..  There should have been, as mentioned earlier, that if the company is bankrupt, the shareholders should be informed so

[Columbus1494]

Here is our successful leader of the board. https://www.youtube.com/watch?v=ltrHCWe49jQ

[Moemoney42]

Look what I found in a press release on ENG on Jan. 5/2018..!! WTF is going on here..!!    EnerGulf Resources downgraded to NEX, still suspended   2018-01-05 18:13 ET - Symbol Change   In accordance with TSX Venture Exchange Policy 2.5, the company has not maintained the requirements for a TSX Venture Exchange Tier 2 company. Therefore, effective at

[DRkTmPEST]

I've held a slim hope that this would come back to some sort of trading. Earlier in the week I was surprized with my scotia investing account to see that the value was at 0.0002 for each share, figured it was finally done and I could just let it go. Seems like this stock still exists in some form, no idea why. I guess there is still a faint glimmer of hope since it is still technically listed

[Columbus1494]

Gulfslope Energy/Texas South just reached an agreement with Delek to drill the Canoe prospect in 2018.Energulf had a letter of intent to acquire 36,8% of that prospect. Seems Energulf missed the oppurtunity. https://www.marketwired.com/press-release/energulf-resources-inc-corporate-update-tsx-venture-eng-2215788.htm https://www.offshoreenergytoday.com/gulf-of-mexico-duo-teams-up-with-delek-to

[Columbus1494]

Wait a minute...does Energulf have a small share in the Canoe prospect after all? They paid 200000$ to Texas South. https://finance.yahoo.com/news/energulf-announces-participation-gulf-mexico-123000783.html After the Gulfslope/Texas South deal with Delek,Texas South has a 5% interest in the prospects. https://ir.delek-group.com/static-files/58c0a77a-88fa-44db-bcda-ea9a8bcc8d5a