Energulf Resources Inc. ENGFF

Hi Action !!

[zeta]

Hi Action -- no -- I was try to get across that the float has been cleaned up nicely and Eng could easily move to 2.25 to 2.50 just on the expectation of a strike -- in other words -- buying coming in that would take it up, without any news at all. You should be very clear -- they will halt the stock for a NR -- if it says dry hole, the stock will likely get a 50% haircut when it resumes trading - so - $2 when the halt -- opens at $1 and will likely get hit hard by shorts and panic selling -- so, you should not be in this stock now if you cannot stand that kind of loss - You would be much better to go to the sidelines and plan to buy if they announce oil -- you will pay more -- ??? who knows, but at least you will not lose on the halt. If there is oil and they announce that, the trading after the halt will be hectic - depending on how good/big it looks -- so-- halts at $2 -- opens after the halt at $$3---$ 4 and will likely take off higher as the news gets out -- but, I really do not know - just going by what other stocks have done in this situation. So, you have to be aware of the risks in this situation. If you could put a stoploss at 1.50 and then let it ride, it would be okay, but with the halt, the stoploss would mean nothing - and you would take what you can get when the trading resumes -- I just think that anyone hanging around in ENG should know the score and make their bet accordingly -- I know I have - I don't mind losing, but I don't want to lose the ranch, so -- have reduced the size of my bet -- just in case. I hope I make this clear -- good luck with ENG -- interesting, frustrating and risky!! Zeta