EnerGulf Resources Receives Second 2 Year Renewal Period on Block 1711 Offshore Namibia

Marketwire - Canada

DALLAS, TEXAS--(Marketwire - March 29, 2012) - Energulf Resources Inc. (TSX VENTURE:ENG)(FRANKFURT:EKS) ("the Company") is pleased to announce the Company has received from the Minister of Mines and Energy of the Republic of Namibia for Block 1711, the second two year renewal period, from March 31, 2012 to March 31, 2014.

EnerGulf recently announced the Company 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 (see EnerGulf News Release February 21, 2012). The report was prepared by independent oil and natural gas reservoir engineers Netherland Sewell and Associates, Inc. ("NSAI") of Dallas, Texas (www.netherlandsewell.com) and is 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)
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              Low Estimate      Best Estimate      High Estimate        Mean
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Total                  742              2,749              6,108       3,166
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Block 1711 comprises 2.2 million acres (8,900 square km) and is situated in the Namibe basin off the northern coast of Namibia along the international boundary with Angola. The co-venturers in Block 1711 are currently EnerGulf 15% (with a possible additional 4%), PetroSA 10%, NAKOR 10% (carried), NAMCOR 7% (carried), HRT 2.7% and Kunene Energy .3% (carried). EnerGulf has been granted the authority to market and negotiate the terms for the remaining 51% to 55% interest in Block 1711 with potential qualified industry participants with the consent of the Namibian Ministry of Mines and Energy. EnerGulf will continue as the interim Operator under the Joint Operating Agreement (EnerGulf News Release October 12, 2011).

On behalf of the Board of Directors,

EnerGulf Resources Inc.

Jeffrey L. Greenblum, Chairman & CEO

Certain disclosure in this release constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to EnerGulf's operations as an oil and gas exploration company that may cause future results to differ materially from those expressed or implied by those forward-looking statements and readers are cautioned not to place undue reliance on these statements. EnerGulf disclaims any intentions or obligations to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:
        The Buick GroupJonathan Buick
        (416) 915-0915
        [email protected]

        Progressive Investor Relations
        Ben Curry
        (604) 689-2881
        [email protected]www.energulf.com