Eng

EnerGulf Reports Drill Ship En Route to Block 1711

HOUSTON, TEXAS - April 1, 2008 - EnerGulf Resources Inc. (TSX-V:ENG)

As previously reported, Block 1711 project operator, Sintezneftegaz Namibia Ltd., contracted the drillship Deep Venture on behalf of itself and the other co-venturers on Block 1711 (EnerGulf, PetroSA and NAMCOR) to drill the Kunene #1 well. EnerGulf has been notified by the project operator that the drill ship Deep Venture has been released by ExxonMobil to the co-venturers. The Deep Venture is now en route from Angola, to the Kunene #1 drill site on Block 1711 and is expected to be on location in approximately 3 days.

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 has a 10% working interest in the block.

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 

 

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Tuesday, April 8, 2008 - Web posted at 7:55:12 GMT

Oil exploration drilling starts

STAFF REPORTER

THE Russian company Sintezneftegaz Namibia has announced that it has started drilling the first oil exploration well in Kunene structure of Block 1711 situated offshore about 60 km from the coast and 750 km from Walvis Bay.






Sintezneftegaz Namibia said it was undertaking the venture with its partners Energulf Namibia, Namibian Petroleum Corporation, PetroSA and Kuene Energy. The company said it intended a 4,4 km depth drilling, but if necessary it would consider the possibility to drill to the depth of 5,5 km water depth at the drilling location is 776m.

The first exploration well drilling will be carried out by the 'Deep Venture' vessel which arrived in the country from Angola last week.

'It should be emphasised that it is the first ever offshore exploration in the northern part of this southern African country and it will bring unquestionable benefits to Namibia, not only in the case the oil will be found but also it will revel and provide invaluable geological information on the area,' said a statement issued by the Sintez Group, which owns Sintezneftegaz Namibia.

The company said the prospecting drilling results would allow evaluation of the deposits of the Namibe Basin through obtaining information on the regional geology and oil-and-gas bearing capacity of the basin based on actual drilling.

Sintez Group is a diversified Russian company, comprising investment and production companies active in oil and gas and energy-related sectors, as well as real estate development and construction. 

 

Vh Björta

Det blev inget utbrott uppåt i #0 - tvärtom ett fall som heter duga.

Igår gick aktien hysteriskt  (90%) under hög volym, men från en låg startpunkt.

Vh Björta