EnerGulf Resources Inc.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.
EnerGulf reported on the completion of drilling activities of the Kunene #1 well, that significant hydrocarbon shows were encountered. Management thereby believes the results of operations has significantly enhanced the prospectivity of Block 1711. The block’s co-venturers are: NACOR Investments Ltd. (70% - an affiliate of Sintez Group); EnerGulf Resources Inc (10%); PetroSA (10% - a national petroleum company of South Africa); NAMCOR (7% - the national petroleum company of Namibia) and, Kunene Energy (3% - the local BEE group).
EnerGulf’s Chairman/CEO, Jeff Greenblum, comments, “Coupled with our ongoing exploration operations on our Lotshi Block in Democratic Republic of Congo, we are excited about the opportunity to manage the operations of offshore Block 1711 as interim Operator. The geological similarities of Block 1711 to offshore Brazil, and our discovery of an active hydrocarbon system suggest high value potential for the block. Our work program is committed to capture this prospective world class value.”
