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Energulf Resources Inc. ENGFF

Energy
Energulf Resources Inc is an oil and gas exploration company. Along with its subsidiaries, the company acquires and develops oil and gas projects in the Gulf of Mexico in Africa and Albania. The company's assets are located in Canada, Namibia, Albania and the Democratic Republic of Congo. Majority of the revenue is derived from the properties in Canada.


GREY:ENGFF - Post by User

Energulf Resources Inc.
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Comment by shleevoon Jul 28, 2008 5:20pm
315 Views
Post# 15337166

RE: Thanks for the crappy ratings.

RE: Thanks for the crappy ratings.Snow, correct me if I'm wrong.  Kunene is a wholly owned subsidiary of UNX.  So if they did not exercise for 1711, then not for the other two blocks either.  Both conssisions were owned by a company they own, a wholly owned subsidiary as per their NR. 

The fact really is that we don't know why they exercised now if it has anything to do with what is going on at 1711 or not.  There is still a possibility that they did exercise these options based on the information they have on 1711.  At the end of the day, if they did not exercise, UNX would not benefit directly as a company, however, their subsidiary Kunene would.  They obviously exercised these options for the benefit of UNX shareholders.

Am I making any sense here?
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