EnerGulf Resources Inc., Houston, (Toronto Venture: ENG) reports the Ministry of Mines and Energy of Namibia has appointed the company 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 coventurers are: NACOR Investments Ltd. (70%), an affiliate of Sintez Group; EnerGulf Resources (10%); South Africa national oil company PetroSA (10%); Namibia national oil company NAMCOR (7%) and local BEE group Kunene Energy (3%).
EnerGulf's chairman and chief executive Jeff Greenblum says, "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."
EnerGulf has oil and gas operations onshore and offshore Africa.
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