RE: here's News!EnerGulf waits for ship to come in for Namibian well
2008-04-01 09:39 ET -News Release
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Mr. Jeff Greenblum reports
ENERGULF REPORTS DRILL SHIP EN ROUTE TO BLOCK 1711
As previously reported, block 1711 project operator, SintezneftegazNamibia Ltd., contracted the drill ship Deep Venture on behalf ofitself and the other co-venturers on block 1711 (EnerGulf ResourcesInc., PetroSA and Namcor) to drill the Kunene No. 1 well. EnerGulf hasbeen notified by the project operator that the drill ship Deep Venturehas been released by ExxonMobil to the co-venturers. Deep Venture isnow on its way from Angola, to the Kunene No. 1 drill site on block1711 and is expected to be on location in approximately three days.
Block 1711 is situated in the Namibe basin off the northern coast ofNamibia along the international boundary with Angola. The two separateexploration prospects, the Kunene and Hartmann, have been identified byextensive modern seismic data on the 893,100-hectare (2.2-million-acre)block. Based on a prospective resource assessment provided byNetherland Sewell & Associates Inc. (see EnerGulf's news release inStockwatch dated Sept. 8, 2006), the co-venturers are targeting apotential multibillion-barrel oil and gas resource on block 1711.EnerGulf has a 10-per-cent working interest in the block.
We seek Safe Harbor.