RNS - Good news
Entry into Dead Sea / WadiAraba Block, Jordan
Enegi is delighted to announce that it has entered into an agreement with Korea Global Energy Corporation ("KGEC") in relation to a highly prospective project in the Hashemite Kingdom of Jordan.
KGEC is in advanced discussions with the Hashemite Kingdom of Jordan over a Production Sharing Agreement for the Dead Sea / WadiAraba Block ("the Block"). Enegi has agreed a Heads of Terms with KGEC under which it will be issued a 5% interest in the Block.
There was a clear shake after we reached 16p and that was to be expected. Clearing that hurdle and returning to upwards movement is a very strong signal IMHO.
HB markets had a 25p target in February and a Spec Buy Rating. Let's see how much progress we make towards the target before further news. As I have said before, I think November will be the game changing month here.