Energulf Resources Inc. ENGFF

Anyone care about Lotshi?

[shleevo]

The news releases by both ENG and UNX have confirmed "almost" everything you need to know about 1711.  The NR's stated Natural Gas/possible gas Condensate, Significant  Hydrocarbons, 2 Zones.  I don't believe 1711 is that much of an "enigma" as it's being portrayed on this board.

The only question left, and the only one is whether or not the Nat Gas is commercial.   Kudo was discovered in the 70's but is still not producing.  However, Tullow paid 570 Million for it and it was proven to be about 1.3 trillion tcf and up to 9tcf probable.  If this is being compared to Kudo as UNX stated in the NR, if it's at least that big or bigger, there is value, however Kudo hasn't been put into production in over 30 years.

All the news releases have clearly painted a picture that significant hydrocarbons were found and more exploration on the block is the next move.  And that's the key, more exploration.  This was not a dry well and perhaps Hartman has the OIL.  It's all about the oil. 

In the meantime, the best thing this company can do, and I hope they are doing, is work on getting a JV, do the seismic on Lotshi and drill an exploration well while we wait for Sintez's next move, which is hopefully hartman.

The positives: 

- Still a low float of shares
- Potential resource of Nat Gas to be announced
- One of the few unexplored basins in the world
- Hartman has a much greater chance of being successful, proven hydrocarbon system
- DRC/Lotshi
- Money in the bank

All reasons why I'm still an investor