GREY:ENGFF - Post by User
Comment by
greenpastureon Apr 02, 2008 4:27pm
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Post# 14931944
RE: Whew, doesn't take much to get you fellas exci
RE: Whew, doesn't take much to get you fellas exciI am not sure if you can understand the difference between 297,000,000 o/s shares and 34,000,000 shares but MMT would be trading at 4.36 if they had the same number of shares as ENG. Plus the ENG shares are tightly held as opposed to the free trading MMT shares.
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Don't know exactly how I got wind of ENG (though I think it happened through a Stockhouse link) but all of a sudden I'm reading about the arrival of a drill ship and how once that ship spuds the well, the share price is going to gallop forward. So, that got me into reading some of the details of the company on the Energulf website. As I understand it, Energulf has a 9.5% participation in the unproven, but prospective, Kunene field. It has some other rather large leases as well but, I suspect, the company is still some considerable distance from production from any of these fields. Even a strike in the Kuene field is going to require infrastructure to tie it into the mainland (or is there existing infrastructure?)