ENG Energulf Resources (delisted)

EnerGulf Resources Inc. (TSX VENTURE:ENG) (FFRANKFURT:EKS) ("EnerGulf") is
pleased to announce it has retained Moyes & Co (UK) Limited ("Moyes") to assist
in facilitating a transaction with a strategic co-venturer for the development
of EnerGulf's Lotshi Block in the Democratic Republic of Congo ("DRC"). Moyes &
Co. (www.moyesco.com) has 30 years of worldwide consulting experience in the oil
& gas industry. With over 550 transactions completed, and projects evaluated in
all major basins in the world, Moyes & Co has established an international
reputation for superior transaction advice. 


Christopher Moyes, project lead for Moyes & Co, comments "The EnerGulf team has
developed high value acreage in the West African pre-salt onshore and offshore
play trend. EnerGulf has a 500 square kilometer property in the highly
prospective DRC Coastal Basin, with the DRC and Cabinda onshore and offshore
oilfields to the west and north, oil seeps reported in the block and a highly
encouraging technical evaluation from DeGolyer & MacNaughton and Digital
Prospectors Inc. The technical work has developed multiple drill ready prospects
and leads with independent play types and the potential for stacked reservoir
targets. Moyes is very excited about the potential of EnerGulf's Lotshi interest
and working with EnerGulf on this project."


Jeff Greenblum, EnerGulf Chairman and CEO, said "Moyes & Co. has a proven track
record in facilitating oil and gas exploration and development joint venture
transactions. We look forward to working with Moyes and leveraging its past
success to find a qualified co-venturer for our Lotshi block.


EnerGulf is focused on acquiring, exploring and developing high impact, large
acreage oil and gas projects. EnerGulf has a 90% working interest, is the
operator, and will carry COHYDRO, the national oil company of the DRC, for a 10%
interest in the Lotshi Block. A March 2011 NI 51-101 report prepared by DeGolyer
and MacNaughton, an independent international petroleum consulting firm located
in Dallas, Texas, shows a mean estimate of prospective oil resources of 313.2
million barrels and is available on SEDAR (sedar.com) and the EnerGulf website
(energulf.com). (As per NI 51-101 section 5.9, there is no certainty that any
portion of the resources will be discovered. If discovered, there is no
certainty that it will be commercially viable to produce any portion of the
resources.)


On Behalf of the Board of Directors of

EnerGulf Resources Inc. 

Jeffrey L. Greenblum, Chairman & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Certain disclosure in this release constitute forward-looking statements that
are subject to numerous risks, uncertainties and other factors relating to
EnerGulf's operations as an oil and gas exploration company that may cause
future results to differ materially from those expressed or implied by those
forward-looking statements and readers are cautioned not to place undue reliance
on these statements. EnerGulf disclaims any intentions or obligations to update
or revise any forward looking statements whether as a result of new information,
future events, or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Network IR
Benjamin Curry / Andrew Mugridge
(604) 559-5573
info@networkir.com

Energulf Resources Inc. (TSXV:ENG)
Historical Stock Chart
Von Apr 2024 bis Mai 2024

Energulf Resources Inc. (TSXV:ENG)
Historical Stock Chart
Von Mai 2023 bis Mai 2024