Company for bottom feeders "E"This company Enterprise Oil Group (symbol=E) makes money, has contracts and is going for 50% cheaper than EFL.
Compare the release from Enterprise Oil below to EFL's upcoming financials and those in the past...
"For the twelve month period ending September 30, 2007, revenues were $36,748,088 as compared to $32,282,333 for the same period the previous year. Net income for this period was $1,413,281 or $0.04 per share (basic weighted) as compared to $2,420,981 for the same period the previous year. EBITDAS was $4,231,163 as compared to $4,581,008 for the same period the previous year. "
EFL will be lucky to get a couple of hundred thousand in gross income. Net it is virtually guaranteed to have lost another million or two of their now dwindleing cash supply.
There are plenty of other undervalued stocks out there. Don't waste your time here. It will tie your money up for ages and if you are going to play, buy real real low.
Though I made money in the end, I did take a loss last year and if I did not continue to play it - the right way this time- that's all I would have had: one big fat loss.
Why do I have a beef- as stated earlier- management has kept investors in the dark and did nothing to improve sales.