GUL drilling for oil in UK Jan.20 with PetroCanadaI hope you all bought some GUL today after they released news today that their drill rig will be commencing drilling by January 20. There is room for ENG and GUL in everyone's portfolio when it comes to oil plays and GSA as well. Out of the three plays GUL will be the first to drill this week, ENG probably will start sometime in early to mid February and GSA will start end of February. GUL share price is still reasonable at $0.295 right now and they are partnered with PetroCanada on this project, not a lot of downside but lots of upside.
Good luck with these oil plays.
Gulf Shores Resources Ltd.: News Release
03:00 EST Tuesday, January 15, 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2008) - Gulf Shores (UK) Limited, a wholly owned UK subsidiary of Gulf Shores Resources Ltd. (TSX VENTURE:GUL)(FRANKFURT:GFU) has been advised by Petro-Canada UK Limited, the Operator of the North Sea 15/18a-Maria project, that the Global SantaFe Arctic III semi-submersible rig is expected to commence drilling operations by January 20, 2008.
Gulf Shores will pay 11.11% of the cost to drill and, if required, conduct DST operations to earn an 8.33% interest in Licence P 233, Block 15/18a. The Company has identified three additional prospects/leads in the block that require new 3D seismic to mature to drill ready status.
ON BEHALF OF THE BOARD
Michael Turko, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Gulf Shores Resources Ltd.
Mr. Gerald Otterman
(604) 683-3309 or Toll Free: 1-866-292-2601
(604) 844-2834 (FAX)
Email: gulfshores@net-conex.com
Website: www.gulfshoresresources.com