Enegi oil grabs the news with an exciting burst of energy
Enegi Oil (LSE: ENEG), the Manchester-based exploration company, had a great week; shares rocketed in the second half after it announced the scheduled re-commencement of operations at its Garden Hill South Project, rising 50% on Friday to trade at 14.75p. The week began at a quiet 6p per share… what a week.
According to the company, previous production tests at Garden Hill South in western Newfoundland’s Port au Port Peninsula, have produced more than 24,000 barrels of ‘high-quality crude’. Independent consultant TRACS International has estimated Garden Hill South in its entirety could contain ‘unrisked’ resources of 8.6 million barrels of oil equivalent. Alan Minty, chief executive officer and significant shareholder of Enegi, said “we are looking forward to moving into production following completion of a flow test at the well.” All good news.
I had been quietly watching this stock for a while but, as luck would have it, I was out on business and missed out on all the fun- a missed opportunity for the virgin trader this time. Next time I won’t get caught napping.
v
Looks like it was another good day for Enegi sp today.
Samanji
Your right. I have been watching them today. Lots of shares changing hands.
Too late to buy in this run. I think I will wait until it retraces a bit.
In fact it will probably creep back down for a while until some more news surfaces.
But hey I’m just a virgin trader, it’s all a learning curve for me still.
v
i think its going further. i read somewhere 18million Enegi shares have moved in the last 3 days. Don’t know if its true. Ah these AIM’s get the blood flowing.
dj
I think some long term upward movement in Enegi share price is a definite. I also think a short term retrace is at hand. See what happens today.
D
Enegi Oil has now dropped back about 5%, correcting yesterday’s strong gains. It maybe just a breather
stoki
Looks more like it has stopped all together today.
The poor thing must have worn itself out after yesterdays excitment.
V