Energulf Resources Inc. ENGFF

RE: its only a scare tactic

[DoubleMan]

The ASK block just fell another penny to 1.77 ...plus someone just removed their shares from the ASK. so that we are left with one seller at 29.9K shares...with no buyers for most of the trading day ....

No one wants a "dumping" of the SP......it is already down over -50% from the pre-drilling high....but as the drilling time is delayed further  to 120 days (double the original estimate)...some are going to get "annoyed" at the overall performance and say..."bugger it" and sell ...move on with their losses and get into another stock that at least is showing signs of improvement..

This morning on BNN  an analyst classified the Venture Exchange  in a  full  "Bear "market condiiton with the  index now down over -30%....perhaps this is the reason why so many of the juniors are "plunging" ....credit worries and restrictions are hampering the junior stocks...

Heaven help ENG shareholders if ENG management decides to go after 15 million share PP at 1.50 with a 1/2 warrant  (this is a guesstimate as  we know that history shows the  juniors always give away the ship)...this is curretnly at the forefront of my mind as I am thinking that ENG is out of money at this stage with "double" drilling time....they will be forced to implement another PP for money soon....and that has me worried....this drilling program appears to be going on far too long....

Time for a drink.....