FlightNews,
re: Energulf
Right now they are awaiting news on the following:
1. closing of a private placement (I heard, or read somewhere it was over subscribed)
2. drilling rig is finishing up current project and should be on the way anytime now (anticipating late January to early February)
3. finally there will be news when the drilling actually starts.
So several items to be anticipated which has made the volume soar...along with the SP.
I'm sure there are alot of short term traders involved with this SP runup and it could crash at any time...but it may remain strong until announcements are over...then it will leave those that are willing to wait for results of drilling. I believe there will be much trading in and out by day traders, momentum traders, etc. which will cause daily swings.
Badog
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