Frontier Plays in Congo and Offshore Namibia. EnerGulf. Resources, Inc. May 2009 Presenter: Jeff Greenblum

Transcription

1 Frontier Plays in Congo and Offshore Namibia EnerGulf Resources, Inc. May 2009 Presenter: Jeff Greenblum 6th African Petroleum Week 2009 Conference - London

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3 EnerGulf: Capitalization At May 19, 2009 Issued & Outstanding: Warrants: $1.35 Expiring Jan 30/10 Options Fully Diluted 48,714,116 7,558,000 5,969,516 62,241,632

4 EnerGulf: Financial Position At May 19, 2009 Total Assets Market Capitalization: Share Price 52 week Share Price Range: $22.5 Million $20.9 Million $0.41 $ $2.83 March 08 high share price Mkt cap then $4.03 $170m

5 EnerGulf: May 2009 Financing 9,000,000 Units $0.35 Unit price Full warrant attached: $0.50 First Year $0.75 Second Year $3,150,000 Gross Proceeds

6 EnerGulf: Directors Jeffrey L. Greenblum: Chairman of the Board, CEO Clive Brookes: Director, CFO Tom Fetters: Director Joe Soliz: Director

7 EnerGulf: Technical Staff The Honorable Andimba Toivo Ya Toivo: Senior Advisor for African Affairs Brad Birkelo: Geophysicist, Digital Prospectors Dr. Joe Davis: Geologist, Digital Prospectors Dr. James Edwards: Senior Advisor for Exploration and Acquisitions Israel Hernandez: Senior Advisor for deepwater drilling, engineering, and operations Fully staffed office in Kinshasa, DRC geologists, attorneys, support staff

8 Management and Staff Experience Experience at big and mid oil: Exxon, Mobil, Philips, BP, BHP, Arco, UNOCAL, Triton, United Meridian, Ocean Energy, etc. Government Experience: DOE, DOC, USGS; Namibia Ministry of Mines & Energy; DRC Ministry of Hydrocarbons Regional Play Experience: West Africa and Deep Offshore

9 BLOCK 1711 OFFSHORE NAMIBIA

10 Namibia Block 1711 ANGOLA Northernmost Offshore Block in Namibia Namibe Basin No previous exploration drilling. Operator: Sintezneftegaz 70% WI Partners: EnerGulf - 10% WI PetroSA 10% WI Namcor 7% (carry) Kunene Energy (BEE) 3% (carry)

11 Block 1711 Geologic Setting S yn Rift Atlantic Ocean alv W e g id R is

12 Deep Venture Drill Ship

13 Kunene 1 Water Depth 772 m Spud April 9, m, July 19, 2008 Testing - August 7-25, 2008 (EnerGulf non-consented) Rig released September 7, 2008 Well Status - P&A-suspended

14 Kunene 1 Section TD in 5050 m Encountered Hydrocarbon shows (C1-C5 in two zones) Details of well results are pending Namibian Government release from tight-hole status Operator tested one zone m EnerGulf chose to nonconsent the testing of this zone.

15 Kunene Results Working petroleum system Tested 23,000-acre structure on a 1,000,000-acre block Detailed well results classified as tight hole by Namibian Government pending completion of the operator s evaluation Kunene Prospect Hartmann Prospect

16 Hartmann Prospect Kunene Prospect 93,000-acre closure Netherland & Sewell Resource Potential Oil case P50 2,700 MMBO TCFG unrisked Gas case P50 14 TCFG MMBO unrisked Update Hartmann prospect based on Kunene well results Hartmann Prospect

17 Other Prospects Several other prospects have been identified on the block Evaluate these prospects in light of Kunene 1 results Santos and Namibe Basins were juxtaposed during early Atlantic Ocean rifting. Reevaluate 1711 in light of major oil discoveries recently in the Santos Basin. Santo s Bas in After Scotese, 2008

18 LOTSHI BLOCK Democratic Republic of Congo

19 M Boundi Lotshi Block Democratic Republic of Congo Malongo North Atlantic Ocean EnerGulf Operator, 90% WI Cohydro 10% (carry) Block area km2 Perenco production from DRC, 28,000 bo/d Recent exploration activity in Cabinda South block by ROC oil (now Petroplus) Angola (Cabinda) Malongo South Lotshi Block Laiwenda Kinkasi Muanda Angola

20 M Boundi Lotshi Block Lemba Trough runs through block Near giant Malongo fields On trend with giant M Boundi field Pre-salt targets Chela, Bucomazi, and Lucula Fms. Source kitchen(s) on block and to the north, west and south Angola (Cabinda) Democratic Republic of Congo ba S Lem Malongo North Ba ubsin Atlantic Ocean Malongo South Lotshi Block asin ub-b us Sint ko ko hi Ts sin Ba bsu Laiwenda Kinkasi Muanda Angola

21 M Boundi Previous Work Angola (Cabinda) Democratic Republic of Congo Malongo North Atlantic Ocean Malongo South Fina and Shell consortium in 1970 s to early 1980 s Shot 2000+(?) km 2D seismic data over coastal plain Drilled 5 wells in area (one well, Forabola, in Lotshi Block) Discovered Laiwenda, Kinkasi, Muanda and other fields in the SW portion of the coastal plain Forabola Lotshi Block Laiwenda Kinkasi Muanda Angola

22 EnerGulf Work Program Lotshi Block Acquired airborne magnetics and airborne gravity data over block in 2008 Plans to acquire km of 2D seismic data in late summer of 2009 Drill 2 wells in 2010

23 EnerGulf Resources Inc. TSX.V ENG Frankfurt - EKS Certain disclosure in this presentation 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.