EnerGulf Resources Releases New Prospective Resource Estimates for Block 1711 Offshore Namibia with a Mean Estimate of 3.166 Billion Barrels of Oil (EnerGulf Gross Net 474.9 Million Barrels)
DALLAS, TEXAS (February 21, 2012), EnerGulf Resources Inc. (TSX-V: ENG; FSE: EKS) (“the Company”) is pleased to announce the Company has received a prospective oil resources report for four prospects and nine leads on Block 1711, Offshore Namibia, including a mean estimate of 3.166 Billion barrels of potentially recoverable oil. The report was prepared by independent oil and natural gas reservoir engineers Netherland Sewell and Associates, Inc. (“NSAI”) of Dallas, Texas (www.netherlandsewell.com). The report was prepared as of December 31, 2011, and will be available on SEDAR (www.sedar.com) and on the EnerGulf website (www.energulf.com).
NSAI estimates the unrisked gross (100 percent) prospective oil resources for the prospects and leads as of December 31, 2011, to be:
Gross (100%) Unrisked Prospective Oil Resources (MMbbl)
Low Estimate
Best Estimate
High Estimate
Mean
Total
742
2,749
6,108
3,166
The estimates in this report have been prepared in accordance with the definitions and guidelines set forth in Canadian National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities and Section 5 of Volume 1, Second Edition, of the Canadian Oil and Gas Evaluation Handbook (COGEH), prepared jointly by the Society of Petroleum Evaluation Engineers (Calgary Chapter) and the Canadian Institute of Mining, Metallurgy & Petroleum (Petroleum Society) (the latter of which is now the Petroleum Society of Canada). Please also see footnote below.

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