Kunene No. 1 well drilling operations complete

Drilling and logging operations on the Kunene No. 1 well in the Namibe basin, offshore Angola, have been completed, according to EnerGulf Resources.

Offshore staff

HOUSTON -- Drilling and logging operations on the Kunene No. 1 well in the Namibe basin, offshore Angola, have been completed, according to EnerGulf Resources. The well had significant hydrocarbon shows and EnerGulf believes the results of the operations to date have enhanced the prospectivity of block 1711 by demonstrating that hydrocarbons are present. However, the company believes the well will not be a commercial producer.

Block operator Sintezneftegaz Nambia has decided to test the well for natural gas in a particular zone. The test is estimated to take an additional 16 days. EnerGulf has elected not to participate in this operation.

EnerGulf has contracted Petrophysical Solutions to provide oil and gas electric log analysis and rock and fluid interpretation for the Kunene No. 1 well, and guidance for block 1711and Lotshi block exploration programs.

08/07/2008

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