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EnerGulf announces Joint Operating Agreement for Namibia Offshore Block 1711


Published Jun 16, 2014
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EnerGulf Resources Inc.

EnerGulf Resources Inc. announce a Strategic Exploration Agreement between Gazania 148 Investments (Pty) Ltd ('Gazania') and EnerGulf Namibia Ltd ('EnerGulf'), a wholly owned subsidiary of the Company, for Offshore Block 1711, Republic of Namibia ('Block 1711').

The Agreement includes a negotiated Joint Operating Agreement ('JOA') for Block 1711 which has been submitted to the Ministry of Mines and Energy and NAMCOR (National Oil Company of Namibia) for review and approval. The Petroleum Agreement grants EnerGulf a 15% working interest, Gazania a 75% working interest, and NAMCOR a 10% carried working interest to production.

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