Energas Resources may seek out PIPE to fund operations

By Sheri Kasprzak

New York, July 12 - Energas Resources, Inc. said a private placement may be in its future to help fund operations and additional mineral interests.

"The company is currently seeking additional funds and additional mineral interests through private placements of equity and debt instruments," said a form 10-QSB Energas filed Wednesday with the Securities and Exchange Commission.

According to the report, Energas had a working capital deficit of $1,363,505 as of April 30 and incurred a net loss for the quarter ended April 30 of $281,532, compared with a net loss of $149,906 for the corresponding 2005 quarter.

Located in Oklahoma City, Energas is an oil and natural gas exploration and development company.

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