
On January 13, 2010 the Company reported that Sintezneftegaz Namibia Ltd. has
transferred its interest in Block 1711 to Nakor Investments Limited, a company affiliated
with Sintezneftegaz/Sintez Group of the Russian Federation.
On April 1, 2010 the Company reported the first of the two additional two year renewal
exploration periods set out in the Petroleum Agreement had been renewed by the
Ministry of Mines and Energy, and also named Nakor as operator therein.
On June 17, 2010 EnerGulf reported that the Operating Committee for Block 1711 met in
Windhoek, Namibia and approved a “Work Program” for Year 1 of the Petroleum
Agreement renewal. The work program is expected to commence immediately and is
designed to fully evaluate the results of the Kunene #1 well and analyze their impact on
the block. This will allow the co-venturers to identify future drill targets (including
possible re-entry of the well), plan additional seismic and further evaluate the current and
additional prospects. EnerGulf looks forward to continuing in the exploration program of the block.
(Houston) EnerGulf Resources Inc. (ENG-TSXV) (“EnerGulf”): EnerGulf is pleased to announce the Ministry of Mines and Energy of Namibia has appointed EnerGulf as interim Operator of offshore Block 1711. As interim Operator, EnerGulf will continue and complete the full and thorough analysis of the Kunene #1 drilling and testing. The resulting geological information will be used to further evaluate the current and additional prospects, identify future drilling locations and consider potential re-entry of the Kunene #1.