Energulf Resources Inc. ENGFF

RE: Financing.....at what price?

[wallywill]

Petro Viking was unsucessful in closing a $3 million financing @.175.

They too are now looking fo a JV partner in order to close the aquisition of  block 1710A&B.

The reality is that without an operator for 1711, it will become history.

HRT will be the next to offshore drill but they will be drilling at the other end of the country.

I guess the big question is if the companies who visited the data room are waiting for someone else to prove up oil before making their move or would they just wait for the licence to expire? If they wait for it to expire, then they would not have the burden of carrying the russians anymore. Eng could then re sign with the new operator.

The focus should be on Lotishi for now.

GLTA

Wallywill