Energulf Resources Inc. ENGFF

6 Basic Steps to Best Practices

[steadfast]

I thought I would share my thoughts  with the Board:
1.    Where are we now?
       In the process of raising $4m in PP
       In the process of completion of Seismic and receipt of prospective resource assessment and
       determining where to place drill in Congo
      In the process of moving 1711 forward with ENG as Interim Operator
2.   Where do we want to be?
      Drilling in Congo early 2011.  Arrange a rig now.
      Confirm the 14 tcf of gas that Petro Alliance estimate could be at 4698-4748 m interval, from a 3rd
      Party Independent Audit.  Determine if estimate is compliant with 51-101 and if so, get it done.
      Receive core results from Core-Lab.
     Confirm Nakors 70% commitment with funds and desire to move forward, or replace with another
     company with deep pockets.  Initiate a plan to move 1711 forward, whether it be additional seismic,
     re-open Kunene #1 or select a new site to drill.  Determine a date to commence.
     Inform investors of above results in a timely manner.
3.  How are we going to get there?
     Strategically - money needed to do above.  Determine amt and get it.
     Operationally - Do all of above in #2
     Tactically get all JV Partners working in harmony.  It is the peoples behaviour that sets the culture
     of the organization.  Inspire shareholders.
4.  Have we arrived?
     As I type this I realize we are in the process as I would expect Jeff & Staff must be presently
    working on all of the above.  Then once we get the above done and drills turning we will learn if
    we have arrived, if oil start starts flowing.  If 14 tcf gas is confirmed,and 51-101 compliant, we will have a good   start. 

    How do we keep the momentum going?
    The results will get the momentum going.
5.  Does it fit our Mission Statement?  YES   
     TO MAXIMIZE shareholder value by targetting high impace opportunities in the World's most
     prospective hydrocarbon regions.
6.  Who is responsible?
     Jeff at the helm, inspiring those around him.

I believe we are closer to getting answers than we were when the stock was at $4 - hopefully 2011
will be the turning point or ENG and shareholders.