Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (3803)	1/30/2014 6:58:19 PM
From: Goose94	Respond to of 203330

ENG-V new 52 week high, 38 cents.

To: Goose94 who wrote (3803)	2/14/2014 9:35:33 PM
From: Goose94	Read Replies (1) \| Respond to of 203330

ENG-V big volume. closed $0.35 up 2 cents

To: Goose94 who wrote (3803)	6/12/2014 12:57:33 PM
From: Goose94	Read Replies (3) \| Respond to of 203330

EnerGulf Resources (ENG-V) June 12, '14 has arranged a strategic exploration agreement between Gazania 148 Investments Pty. Ltd. and EnerGulf Namibia Ltd., a wholly owned subsidiary of the company, for offshore block 1711, Namibia. The agreement includes a negotiated joint operating agreement for block 1711, which has been submitted to the Ministry of Mines and Energy and Namcor (national oil company of Namibia) for review and approval. The petroleum agreement grants EnerGulf a 15-per-cent working interest, Gazania a 75-per-cent working interest and Namcor a 10-per-cent carried working interest to production. The agreement strengthens the relationship with Gazania, optimizes the exploration potential of block 1711, and ensures cost containment for EnerGulf. The agreement provides: Carried interest to EnerGulf until Gazania completes its work program obligations under the agreement (includes all 3-D offshore seismic, processing, interpretation, and other operating and exploration expenses) and a drill site is approved by the technical advisory committee comprising the parties and government; No direct costs to EnerGulf until the first day of the month after approval of a drill site by the TAC (18 to 24 months); Defined course of exploration operations to meet all industry standards in the development of two independent geological and geophysical constructs for block 1711; Meaningful input for EnerGulf in the development of the work program and selection of an optimal drill site; Joint marketing for the mutual benefit of all parties; Separate marketing after all joint marketing has been completed. John D. Elmore, president of EnerGulf, states: "The strategic exploration agreement and operating agreement provide no direct costs to EnerGulf for a high-quality geological and geophysical program for block 1711 that is expected to cost between $25- and $40-million. The agreement also provides for enhanced marketing opportunities under its joint marketing terms. EnerGulf is excited to work with Gazania and expeditiously move the block 1711 program forward and to its successful development, especially as Repsol and its partners are currently drilling a well on block 1911 offshore Namibia, two blocks due south of block 1711." Block 1711 is an 8,891-square-kilometre offshore petroleum concession on the northern border of Namibia. Netherland, Sewell & Associates (independent oil and natural gas reservoir engineers) estimates mean gross prospective oil resources for block 1711 of 3.17 billion barrels of oil. The full National Instrument 53-101 report is available on SEDAR and the EnerGulf website.