Offshore staff
EnerGulf Resources Inc. has engaged Netherland Sewell & Associates, Inc. to provide an independent assessment of prospective resources report on Namibia Block 1711. Netherland Sewell (www.netherlandsewell.com) is a petroleum consulting firm that is technically qualified and experienced to provide a complete range of geological, geophysical, petrophysical, and engineering services. This firm has performed services for and is familiar to most oil companies, financial firms and regulatory agencies around the world.
EnerGulf engaged Netherland Sewell to prepare the report in part as the due diligence basis required by the company to proceed with a contemplated financing. Details of the contemplated financing will be made public as events warrant. EnerGulf is also currently negotiating the Joint Operating Agreement with its partners in Block 1711.
Block 1711 is situated in the Namibe basin off the northern coast of Namibia along the international boundary with Angola. Two separate exploration prospects have been identified by extensive modern seismic data on the 8,931 sq km block, being the Kunene and Hartmann prospects. The Kunene prospect is defined by a 650 sq km 3-D seismic survey. The structure forms a four-way dip closure covering 95 sq km, with vertical closure of approximately 650 m. The Hartmann prospect has been delineated by extensive 2-D seismic. It is identified as a stratigraphic trap with an area of 343 sq km and approximately 1,600 m of vertical relief.
6/12/06
