Energulf Resources Inc. ENGFF

ENG Undervalued

[steadfast]

With Byron King promoting UNX at $2+ and the huge upside potential he sees for UNX, it continues to
make me realize ENG is also way undervalued.  It all happened on Aug 6, 2008 when investors bailed
because Jeff chose not to stay for the testing of the 4,698m interval, which turned out to be a good
decision, until the well proves to be commercial.  ENG got to keep the $1.6M it would have cost for
their 10% of the testing, and if it does prove to be commercial, ENG then pays $3.2M - so during the
economic meltdown ENG had the money in the til.  ENG have always retained their 10% of Kunene #1
well, that never CHANGED, and I believe it is important to keep reminding investors of this fact, as
recently one investor was still confused and I suspect others may also be.  I am happy Byron King is
so optimistic about UNX, it bodes well for the potential of oil to be found offshore Namibia.