Energulf Resources Inc. ENGFF

PP is over-subscribed!!!

[zeee]

I just contacted the company and spoke to a fellow who is taking care of this end of the company. I was advised that the Private Placement is now oversubscribed and they have to cut back some of the shares people were going to recieve. It is NOT yet closed. I asked the difference between being oversubscribed and closed and learned that closed means the actual day it is complete, and the shares are issued. Once the issue is closed and certificates completed I was advised that the shares will not be free-trading for three months. Obviously these new shareholders will not impact the price of the stock until after the drill is completed and the results of the drill are known. I asked about the Congo and was advised the company has been working hard to get this done and they are expected to close this deal, "Soon." I asked what was viewed as more important, Namibia or the Congo and was advised Congo will be a fantastic complement to the Nambibia play. Is this Bullish or What!!!!!!!!!!!!!!!!! Happy 2008 to everyone. 91,300 shares and going long. Zeeeeeeeeeeeee