EnerGulf Resources Inc. has received a prospective oil resources report for four prospects and nine leads on Block 1711, Offshore Namibia, including a mean estimate of 3.166 Billion barrels of potentially recoverable oil.

Block 1711 comprises 2.2 million acres (8,900 square km) and is situated in the Namibe basin off the northern coast of Namibia along the international boundary with Angola. The coventurers in Block 1711 are currently EnerGulf 15% (with a possible additional 4%), PetroSA 10%, NAKOR 10% (carried), NAMCOR 7% (carried), HRT 2.7%, and Kunene Energy 0.3% (carried).

Jeff Greenblum, Chairman and CEO for EnerGulf states, 'We are pleased to publicly demonstrate the breadth and depth of the prospect portfolio as it currently stands. The report by NSAI validates the work EnerGulf has done since taking over as operator of Block 1711. Our analysis of the information obtained during the drilling of the Kunene #1 well served as a catalyst for developing several new prospects and leads, as well as a complete re-evaluation of the existing prospect portfolio. We are looking forward to planning our upcoming 3-D seismic acquisition and drill programs, and pursuing talks with prospective qualified industry coventurers.'

Tags: EnerGulf Resources Inc.