ENG.V CONTINUES TO BE THE STOCK OF 2008
News is pending as ENG is about to begin drilling one of the most prolific payzones on the planet. Their seismic data defines an estimated payzone of 6 billion barrels of oil off the coast of Namibia (Kunene basin) . They also hold the Hartman prospect which is 5X larger than the Kunene basin. They are also awaiting thier presidential decree from the Peoples Republic of Congo. Their Congo property is surrounded by numerous oil producing majors. The potential here is mind boggling. If they hit these estimated resources, the stock price would be worth hundreds of dollars. It is the largest payzone of any potential oil basin in recent memory, and ENG is about to begin drilling it. The stock is trading in the $3.75 range today, and is anticipated to move to at least the $7.00 mark on speculation alone, as that is historically the all time high that was achieved merely when news was announced that ENG was permitted to drill the Kunene payzone alone. Well, the drilling is about to happen, and the risk/reward ratio here is unlike any other stock on the markets. To help hedge the risk/reward a little, ENG's neighbouring property just struck oil last week. Good luck. Some huge orders of 80 000 and 75 000 share lots going through today.