GREY:ENGFF - Post by User
Post by
BRITNICK27on Aug 08, 2008 9:53am
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Post# 15368359
To buy or to sell???
To buy or to sell???The news was not what we had hoped. The nature of the beast is to be optimistic but if you guys are counting on the first hole of 1711 to suddenly deliver traction to the SP then optimistic might not be the right word.
The only bright light out of Kuene so far is that it may have kept Hartman in the game. There is an enterprise value to these zones and ENG may be best served by divesting of their interests in the offshore game whilst there is still some interest in their rights.
If they hang around looking for the next PP and the next big drill campaign then I am afraid we are in for a long and painfull ride that does not guarantee any commercial viability.
We have a backstop named the lotshi block but it to will take time to positively affect the SP. There are hundreds of on shore oil and gas expl plays that one could look at and the majority of them are on friendly dirt.
Should a guy wait out the "16 day window" at these levels is the question. I imagine once the gov release the findings they will put a positive spin on it regardless of the actual results. This may result in a little pop and provide for a trade or two.
My bids are in at the .35 range.
GLTA