I 've often heard that when it comes to exploration plays, it is often best to "buy when the drill bit goes down, and sell when the drill bit comes up". I suppose this is more of a traders theory, but it seems odd that there was a sudden sell off when it was announced that drilling had commenced on april 9 '08. I emailed the company (on April 24) about the sudden sell off, and the response I got was..... "there has been no fundemental change with Energulf that warrants such a sharp price decline, and that I (the respondent) can only speculate that the sentiment of a portion of our shareholder base has changed for the time being. We are at the early stage of a relatively long drill program and interest should mount as we near results on the KUNENE #1"....This leads me to believe that this price decline is the result of manipulation...so that somebody can load up the truck at an "unjustified" low price (remember "there has been no fundemental change"). After all, I noticed throughout the last 7-10 trading sessions that there has been low volume (sellers are not there) but that occasionally there are very large lower bid volumes that quickly disappear as they try to trigger panic sells and stop losses (that's what I think). And the fact that we seem to have found a floor at around $2-$2.15 tells me that we are in a period of accumulation (somebody's tring to ensure the SP stays in this range) until the NR. Now all we have to wait for is the innevitable 'buy up' that should occur as we near results...and if the well prooves up, then Good Bye to lower SP levels. I've got this gut feeling that we'll start moving higher this week. GLTA