ENERGULF RESOURCES
INC.
200 - 675 West Hastings Street,
Vancouver, British Columbia V6B 1N2
Telephone: (604)
408-1990 Fax: (604) 608-4822
www.energulf.com
NEWS RELEASE
February 19,
2008
EnerGulf
Receives Drilling Schedule Update For Block 1711 Offshore
Namibia
(HOUSTON) EnerGulf Resources Inc. (TSX-V: ENG) advises the latest estimate
for release of the drillship DeepVenture to drill the Kunene #1 well on Block
1711 offshore Namibia (further to its News Release dated January 28, 2008).
Project operator Sintezneftegaz contracted the drillship DeepVenture on
behalf of itself and the other co-venturers on Block 1711 (EnerGulf, PetroSA and
NAMCOR). The DeepVenture is currently drilling for ExxonMobil offshore Angola.
Latest reports provided to EnerGulf by Sintezneftegaz estimate the release
date of the rig from ExxonMobil to be in early March. However, as
previously announced, the timing of the rig�s release for drilling the Kunene #1
on Block 1711 remains subject to the conclusion of ExxonMobil�s drill program
for its well.
Block 1711 is situated in the Namibe basin off the northern coast of Namibia
along the international boundary with Angola. The two separate exploration
prospects, the Kunene and Hartmann, have been identified by extensive modern
seismic data on the 893,100 hectare (2.2 million acre) block. Based on a
Prospective Resource Assessment provided by Netherland Sewell & Associates,
Inc. (see news release dated September 8, 2006), the co-venturers are targeting
a potential multi-billion barrel oil and gas resource on Block 1711.
EnerGulf Resources Inc. is a publicly traded international oil and gas
exploration company focused on maximizing shareholder value by targeting high
impact opportunities in the world�s most prospective hydrocarbon regions.
On Behalf of the Board of Directors of
ENERGULF
RESOURCES INC.
"Jeff Greenblum", Chairman of the Board
Contact information:
Ben Curry
Progressive Investor Relations
Tel:
(604) 689-2881
Email: info@energulf.com
Website:
www.energulf.com
Certain disclosure in this release, including the
proposed private placement, use of proceeds, anticipated commencement date of on
the Kunene #1, and management�s assessment of EnerGulf's plans and projects,
constitute forward-looking statements that are subject to numerous risks,
uncertainties and other factors relating to EnerGulf's operations as an oil and
gas exploration company that may cause future results to differ materially from
those expressed or implied by those forward-looking statements and readers are
cautioned not to place undue reliance on these statements.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this news
release.
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Energulf Resources Inc
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CODE : ENG.V |
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ISIN : CA29266X1050 |
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Energulf is a and oil exploration company based in Canada. Energulf holds various exploration projects in Namibia. Its main asset in production is LOTSHI BLOCK in Congo Dem. Rep. of and its main exploration property is KUNENE in Namibia. Energulf is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.0 millions as of today (US$ 1.6 millions, € 1.4 millions). Its stock quote reached its highest recent level on September 30, 2005 at CA$ 6.65, and its lowest recent point on July 05, 2017 at CA$ 0.02. Energulf has 99 320 000 shares outstanding. |