Energulf Resources Inc. ENGFF

GSA drill rig is on site, ready to drill in two we

[SENSAI1]

Groundstar has the drill rig on site and rigging is 20% complete, set to drill in two weeks.  Good to keep ENG and GSA in your portfolio's, both have blue sky potential.

Groundstar Resources Provides Operational Update of Egyptian Activities MarketwireGroundstar Resources LimitedJanuary 24, 2008 - 09:00:21 AMGroundstar Resources Provides Operational Update of Egyptian ActivitiesCALGARY, ALBERTA--(Marketwire - Jan. 24, 2008) - Groundstar Resources Limited(TSX VENTURE:GSA) is pleased to provide the following operational update forits Egyptian properties.West Esh El Mallaha (WEEM) Block (Non-operated, 20% Working Interest)A new 2000 HP drilling rig (Rig # ZJ-46) built in China was delivered to theGulf of Suez in mid-January. This rig is on an 18-month contract for WEEM andWest Kom Ombo Blocks on a call out basis. The containers have been transportedto the Malik #1 drill site on the WEEM block and rigging up is now 20%complete. Barring unforeseen difficulties, drilling is expected to commence bymid-February. The Malik #1 well will be drilled to a total depth of 12,500feet over a period of approximately 30 days and is the first exploration wellof a two well back to back drilling program. Depending on well results,additional wells could be drilled immediately after completion of the firsttwo wells.These wells will mark Groundstar's first participation in exploratory drillingin its short history. It is the way forward to evolve the Company from pureexploration into an E & P company in the oil sector.West Kom Ombo (WKO) Block (Operated, 60% Working Interest)The Company is currently preparing tender documents to submit to seismicacquisition contractors to bid on its planned 700 kilometer 2D seismic programover five large Lower Cretaceous structures identified from the previousseismic data acquired by Repsol. It is planned to begin seismic acquisition bythe end of the first quarter or beginning of the second quarter, 2008. Acontractor will be mobilized to conduct this seismic acquisition in a jointcampaign with Centurion Energy and possibly Melrose.In spite of significant constraints in the petroleum industry including highcosts, skilled labor shortages, very tight drilling rig and seismic crewavailability along with strict regulatory requirements, Groundstar has andwill continue to significantly advance their international projects in a costeffective and timely manner.Groundstar is a publicly traded Canadian junior oil and gas company activelypursuing exploration opportunities in Guyana, North Africa and the MiddleEast.FORWARD LOOKING STATEMENTS: All statements in this news release that areforward looking statements involve various risks and uncertainties. There canbe no assurance that such statements will prove accurate; actual results andfuture events could differ materially from those anticipated in suchstatements.FOR FURTHER INFORMATION PLEASE CONTACT: Groundstar Resources Limited Kam Fard President & CEO [phone] [phone] (FAX) Email: [e-mail] Groundstar Resources Limited Jason Krueger Investor Relations [phone] Email: [e-mail] The TSX Venture Exchange has not reviewed and does not accept responsibilityfor the accuracy or adequacy of this release.