Agoracom: Small Cap Investment - Energulf Resources - Drill Rig for Lotshi

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Streek01

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Drill Rig for Lotshi - Heads of Agreement

posted on Apr 26, 2012 11:43AM

Energulf Enters Into Agreement for a Drill Rig on its Lotshi Block in the DRC

http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?docid=0785275001&sourceType=1http://www.ccnmatthews.com/logos/20111012-ENERGULF_200.jpg

DALLAS, TEXAS -- (Marketwire) -- 04/26/12 -- EnerGulf Resources Inc. (TSX VENTURE:ENG)(FRANKFURT:EKS) EnerGulf is pleased to announce that it has entered into a "Heads of Agreement" (HOA) with Africa Onshore Drilling Ltd. ("AOD") whereby AOD would provide a drill rig and related services for up to 3 wells for EnerGulf's upcoming 2012 drill program on its Lotshi Block in Democratic Republic of Congo ("DRC"). The HOA is subject to the parties executing a comprehensive "Drilling and Ancillary Services Agreement".

On May 11, 2011, EnerGulf reported the receipt of a 51-101 assessment of the Prospective Resources on EnerGulf's Lotshi Block with a mean estimate of 313 million barrels for the potentially recoverable oil on seven oil prospects on the Lotshi Block. The report was prepared by DeGolyer and MacNaughton (D&M), an independent international petroleum consulting firm located in Dallas, Texas (www.demac.com) and is available on SEDAR (www.sedar.com) and on the Company's website (www.energulf.com). EnerGulf is the operator of the project and has a 90% interest and COHYDRO, the state oil company of the DRC, holds a 10% carried interest.

On behalf of the Board of Directors, eom

NOW IF THEY COULD GET ONE FOR bLOCK 1711, TO THE MOON.....

GLTA

Re: Drill Rig for Lotshi - Heads of Agreement

ValueInvestor2012

May 14, 2012 03:21AM

Re: Drill Rig for Lotshi - Heads of Agreement

mineralfan

Jan 03, 2013 01:38PM

Re: Drill Rig for Lotshi

Hyperfox

Mar 14, 2014 07:52AM

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