Energulf Resources Inc. ENGFF

RE: RE: Everything seems so rosy

[steadfast]

Truebluenoser:
You have on several occasions posted the importance of having an exit strategy for ENG.  You obviously
have one.  I find it very difficult to consider an exit strategy short term as we need answers to so many
questions, ie:
KUNENE:
1.  Core Results:
    a)  Will it confirm 13.5 tcf of gas
    b)  Will the well be commercial
    c)  Will they test lower level
    d)  Will they re-enter Kunene #1 or
    e)  Will they drill a new hole adjacent
    f)  Will the Professionals advise drilling a new location
    g)  Were any traces of oil found in the core
    h)  Do Sintez have the cash needed to continue as Operator?
    i)   The new exploration license expires March 31, 2012 - one would expect drilling to commence
          between now and Sept

CONGO:
1.  Seismic Results
    a)  How many potential barrels?
    b)  When drilling might start?
    c)  Will there be a JV Partner, if so what % does ENG retain

One cannot crunch meaningful numbers, until we get answers to the above questions, which
hopefully we will get many of these answers sometime this month - so I cannot plan an exit strategy
today.  If you have any sugggestions you would like to share with the BB, I am sure they would be
appreciated.  Thank you in advance.