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Energulf Resources Inc. ENGFF

Energy
Energulf Resources Inc is an oil and gas exploration company. Along with its subsidiaries, the company acquires and develops oil and gas projects in the Gulf of Mexico in Africa and Albania. The company's assets are located in Canada, Namibia, Albania and the Democratic Republic of Congo. Majority of the revenue is derived from the properties in Canada.


GREY:ENGFF - Post by User

Energulf Resources Inc.
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Comment by Columbus1494on Jan 13, 2014 6:54pm
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Post# 22086905

RE:RE:RE:RE:RE:Question for the board

RE:RE:RE:RE:RE:Question for the boardMaybe you are right,they could also be negotiating about Energulf converting their 15% working interest to a smaller carried interest,who knows.
If I remember correctly The Chinese and Energulf have to drill three wells in the next 8 years,one well the first 4 years.According to Sintezneftegaz the cost of Kunene was 150 mil$.
Participating in three wells will be expensive.
Maybe a smaller carried interest wouldnt be bad?Also depends on what kind of deal they get in Congo.
Tower earlier held a 15% carried interest in their block.They payed money to increase it to a 30% working interest.Now there are news about that they are trying to farm out  a percentage before drilling.
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