Energulf Resources Inc. ENGFF

RE: REQUEST FOR UPDATE ON OUR OPERATIONS

[steadfast]

Kento:
Good for you for writing requesting an update.
1.  I would not expect any NR until the US Debt has been settled.  The markets are too fragile.  Any
     good news would be wasted.  Timing is always important in releasing news.
2.  I suspect the Govt of Namibia will determine when we get the results of 1711.  I am sure there
     must be a lot going on behind doors re Sintez.  Either they start drilling again or they are out.
     Plain and simple.  It would be a dream to have HRT replace them.
3.  I am pleasantly surprised the stock has held up this well considering ENG's website advise
     Congo drilling in 2nd Qtr 2012 - while it is disappointing it is important that JEff get the right
     partner to come up with the funds.  We do have 300M boe potential + potential of much more.
4.  I would hope after Aug 2nd when the debt crises gets settled we get a good NR, I can't believe it
     could be anything but positive for 1711.
5.  Sintez will have to pay their share of the cost of data results, otherwise they would be in breach of
     contract - that would be one way to get them out.