GREY:ENGFF - Post by User
Comment by
steadfaston Oct 04, 2010 11:18am
256 Views
Post# 17525030
RE: RE: RE: RE: Passport
RE: RE: RE: RE: PassportI believe I have already had my guts and nerves tested in a major way. I held on to the stock and watched
it go to $4 and then down to 12 cents. So, the very worst it can now be is 40 cents to zero and I doubt
that very much. I, too still believe in the story and believe the rewards can be outstanding. ENG would have
to have or find zero in Lotshi and find no Operator for 1711. With Byron King's PR, someone will surely
surface for 1711, we just have to hope it is the right Operator. 10% of 13.5tcf of gas has to be worth
something.
Once ENG closes this PP, they should be in good shape. If you read the NR, once the sp reaches
$1 after the 4 month hold, ENG have 30 days in which to ask the holders to exercise the wts, which
could mean $6.5M to Eng and I have not time to research now, but my memory tells me they will get
a further $6-7M when the 75 cent wts are exercised come July , 2011.