Opinions
Jeff Parent B. Eng. FCSI CIM
Energulf Resources Inc.
ENG-H-X
BUY
Apr 02, 2008
Had some big movement starting in November. There is good volume, which is a very positive sign. Breaking into new territory. Hit a high back in January 8. Also had good volume. Put a Stop at $2.40.
$3.820
Stock price when the opinion was issued
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Have land in offshore Namibia, an area where the majors have moved. Have a 10% holding in a pretty significant well. It may have similar findings to Exxon (XOM-N) and ConocoPhillips (COP-N), which have been exceptional. The short run risk is that they could get a dry well. One of the better perspective areas in the world right now.
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