EnerGulf Corporate Update
Published : December 21, 2012
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DALLAS, TEXAS--(Marketwire - Dec. 21, 2012) - EnerGulf Resources Inc. (News - Market indicators)(FRANKFURT:EKS) ("EnerGulf" or "the Company"). At the Company's Annual General Meeting held on December 17, 2012, Jeff Greenblum, Clive Brookes and Tom Fetters were re-elected as Directors and Eliecer Palacios was elected as a new Director. Jeff Greenblum continues as Chairman of the Board and CEO, and Clive Brookes as CFO. All other resolutions were passed as set out in the Notice of Annual General Meeting.

The Company continues its efforts to secure sources of funding and qualified participants for its projects. 

Lotshi Block, onshore DRC: The Lotshi Block onshore Democratic Republic of Congo ("DRC") is drill ready with plans for a 3-4 well drill program for the summer of 2013. The Block is situated on the far west side of the DRC contiguous to Cabinda, Angola, next to the Atlantic Ocean. As previously reported, a prospective resource estimate for the Lotshi Block has been prepared and includes a mean estimate of 313,176,000 barrels of potentially recoverable oil. The report was prepared by DeGolyer and MacNaughton (D&M), an independent international petroleum consulting firm located in Dallas, Texas. The report is available on SEDAR and on the EnerGulf website. The block is believed to be on trend with the billion barrel M'boundi field in Republic of Congo. EnerGulf has also recently completed the construction of a school and a health clinic on the Block for the local communities, per the terms of the Production Sharing Contract.

Block 1711, offshore Namibia: EnerGulf continues on behalf of the Government of Namibia to find a majority participant for Block 1711. The Company is marketing the project and is conducting data room presentations with qualified industry potential participants. The Company intends to secure a JV participant in the first half of 2013. A prospective resource report for Block 1711 was prepared covering four prospects and nine leads. The report includes a mean estimate of 3,166,000,000 barrels of potentially recoverable oil. The report was prepared by independent oil and natural gas reservoir engineers Netherland Sewell and Associates Inc. of Dallas, Texas, and is available on SEDAR and the EnerGulf website. EnerGulf has a 15% working interest in Block 1711. The upcoming work program calls for a 3D seismic program in the southern part of the Block with a follow up well.

Newly elected member to the Board of Directors, Eliecer Palacios, is a Senior Vice President and the Energy Strategist with Maxim Group in New York City, where he focuses on identifying investment opportunities in the oil & gas space across the capital structure. Prior to joining Maxim Group, he was an equity analyst with Carrelton Asset Management, natural resources long/short equity fund, where he covered mid & small cap exploration & production, refining, offshore drilling and services companies. Prior to Carrelton, he traded crude oil, refined products and natural gas derivatives for Citigroup's energy trading desk based in Houston and was an analyst at Tribeca Global Management covering refiners for a long/short equity energy/utilities hedge fund. Mr. Palacios has an MBA from the Johnson School at Cornell University and a BA in Economics from Instituto Tecnologico Autonomo de Mexico.

Jeff Greenblum, EnerGulf Chairman and CEO comments, "We are finding strong interest in our projects among various major and mid-size energy companies. Drilling activity continues in Namibia with Galp Energia of Portugal's recent partnership with HRT of Brazil in three offshore blocks. BP, Petrobras and Tullow are also active in the area. We believe we have two world-class projects with relatively low geological and geopolitical risk compared to other West Africa opportunities. We are confident that the quality of our Namibian and DRC assets will continue to attract the interest of oil majors and large independents in the region. We have worked hard, so that the DRC Lotshi Block is now drill ready. Also, we are delighted to have Eliecer Palacios join our Board and look forward to benefiting from his considerable expertise in the energy and capital markets." 

On Behalf of the Board of Directors of ENERGULF RESOURCES INC.

Jeffrey L. Greenblum, Chairman & CEO

Certain disclosure in this release 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. EnerGulf disclaims any intentions or obligations to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

EnerGulf Resources Inc.
Sokhie Puar
Corporate Development
(604) 408-1990
(604) 608-4822 (FAX)
Data and Statistics for these countries : Angola | Brazil | Mexico | Namibia | Portugal | All
Gold and Silver Prices for these countries : Angola | Brazil | Mexico | Namibia | Portugal | All

Energulf Resources Inc

ISIN : CA29266X1050
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Energulf is an exploration and oil 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.

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Financings of Energulf Resources Inc
11/6/2013Closes Oversubscribed Non=2Dbrokered Private Placement
9/12/2013Announces Private Placement to Raise $2 Million
5/29/2012Announces Private Placement To Raise $18 Million
9/14/2010Announces Private Placement to Raise $4 Million
Option Grants of Energulf Resources Inc
5/2/2008 Renews Investor Relations Agreement and Grants Stock Option...
Nominations of Energulf Resources Inc
10/14/2011Appoints The Buick Group As Investor Relations Consultant
6/2/2008Adds Exploration Manager For Lotshi Block
Project news of Energulf Resources Inc
5/13/2011(Lotshi Block)Receives Lotshi Block Prospective Resources Report
4/5/2011(Lotshi Block)Commissions Resource Estimate for Lotshi Block and Assembles...
6/17/2010(Kunene)Block 1711 Offshore Namibia
3/6/2009(Kunene)Comments on Namibian Project
2/13/2009(Kunene)Update on DRC and Namibia Projects
8/6/2008(Kunene)Reports Drilling Operations Completed on Kunene #1
6/20/2008(Kunene)Updates Kunene #1 Offshore Namibia
5/29/2008(Kunene)Provides Update on Kunene #1 Offshore Namibia
4/9/2008(Kunene)Drilling Commences on Block 1711 Offshore Namibia
3/28/2008(Kunene)Updates Drilling Rig Status and Management Changes
2/19/2008(Kunene)EnerGulf Receives Drilling Schedule Update For Block 1711 Of...
Corporate news of Energulf Resources Inc
7/8/2016EnerGulf Audit Update
6/9/2016EnerGulf Announces Participation in Gulf of Mexico Projects
6/6/2016EnerGulf Appoints New Management Team
3/1/2016EnerGulf Director Resignation
12/3/2015EnerGulf Announces Change of Auditor Following Closing of Ar...
10/2/2015EnerGulf Completes Acquisition of Columbus Copper
9/29/2015Columbus Copper Obtains Final Order for Merger With EnerGulf...
9/2/2015EnerGulf Announces AGM Results and Updates on the Columbus C...
7/13/2015IIROC Trading Resumption - CCU; ENG
7/13/2015EnerGulf Resources and Columbus Copper Announce Arrangement ...
7/10/2015IIROC Trading Halt - CCU; ENG
4/14/2015EnerGulf Receives Extension for the Lotshi Block
3/30/2015IIROC Trading Resumption - ENG
3/30/2015EnerGulf Announces the Acquisition of Columbus Copper
3/27/2015IIROC Trading Halt - CCU, ENG
2/4/2015EnerGulf Closes Non-Brokered Private Placement
1/5/2015EnerGulf Announces an Amendment to the Non-Brokered Private ...
12/9/2014EnerGulf Announces Non-Brokered Private Placement
6/12/2014EnerGulf Announces Carried Interest and Joint Operating Agre...
5/1/2014EnerGulf Appoints Investor Relations Firm
3/17/2014EnerGulf Appoints Chief Financial Officer
9/11/2013Retains Moyes & Co
8/23/2013-Gianulis and Dhir Join Board
6/28/2013Granted 15% Interest in New Petroleum Agreement for Namibia ...
5/17/2013Corporate Update May 17=2C 2013
12/21/2012Corporate Update
9/9/2010Appointed Interim Operator Offshore Block 1711 Namibia
6/30/2010Lotshi Block Progress Report
4/1/2010Exploration License Renewed for Block 1711 Offshore Namibia
2/26/2010Signs New Contract for Seismic Program on Lotshi Block
9/11/2009Lotshi Block Seismic Update
7/31/2009Management Update
7/23/2009Namibia Block 1711 Update
4/30/2009Signs Contract for Seismic Program on Lotshi Block
4/14/2009Announces Financing To Raise Up To $3.15 Million
1/20/2009Proposes Warrant Expiration Extension
7/25/2008Completes Aeromag and Gravity Surveys on Lotshi Block
7/22/2008Reports Drilling Operations Continue On Block 1711
6/13/2008To Conduct Aeromag Survey On Lotshi Block
4/23/2008Updates Continuous Disclosure Record
4/1/2008Reports Drill Ship En Route to Block 1711
3/18/2008Receives Presidential Decree for the Lotshi Block, Democrati...
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