Enercorp Inc (fka ENCP)

[Mr. Bill]

ENCP 8K OS 695,897 Float 150K or so. Seems like a real good deal to me. Any one else have an opinion? Now .025 x .14

As of June 26, 2008, there were 695,897 shares of common stock issued and outstanding and the aggregate market value of the common stock (based upon the average of the bid and asked prices of these shares on the over-the-counter market of the Company) held by non-affiliates was approximately 12,000.

Float 12000/.08 (avg of .025 + .14) = 150,000

Item 1.01 Entry into a Material Definitive Agreement.

On September 29, 2008, Enercorp, Inc. (“Enercorp”) entered into a binding letter of intent (the “Binding Letter of Intent”) with American Plastics Processing Products, Inc. (“AP3”) and its President, Mr. DiNello, setting forth the principal terms on which AP3 will make an investment in Enercorp. As part of this investment, Enercorp will obtain a $500,000 secured line of credit, 500,000 shares of common stock of LBO Capital Corp. 250,000 shares of common stock of EDEN Research, PLC (a publicly listed company in the United Kingdom), and $250,000 worth of AP3 common stock. In exchange, AP3 will obtain approximately 3,083,333 shares of common stock of Enercorp. The Binding Letter of Intent does not set forth all of the terms related to this transaction, and Enercorp and AP3 agree to negotiate in good faith such other terms as well as definitive documents as appropriate to evidence this transaction. Unless otherwise agreed, Enercorp and AP3 will consummate this transaction as soon as practicable but no later than November 30, 2008.


As conditions of this transaction, Enercorp must, among other things, use commercially reasonable efforts to become fully compliant with all federal and state laws by which it is governed, including the regulations promulgated by the Securities and Exchange Commission. Currently, Enercorp is not in compliance, and may be unable to become fully compliant in the future. Enercorp must also use commercially reasonable efforts to obtain agreements from current debt holders to convert approximately $500,000 of notes receivable from Enercorp into 2,500,000 shares of common stock of Enercorp.


The description of the Binding Letter of Intent is qualified in its entirety by reference to the copy thereof which is attached hereto as Exhibit 10.1 and specifically incorporated herein by reference.