December 21, 2012 For Immediate Dissemination
EnerGulf Corporate Update
DALLAS, TEXAS (December 21, 2012), EnerGulf Resources Inc. (TSX-V: ENG; FSE: EKS)
("EnerGulf" or "the Company"). At the Company's Annual General Meeting held on December
17, 2012, Jeff Greenblum, Clive Brookes and Tom Fetters were re-elected as Directors and Eliecer Palacios was elected as a new Director. Jeff Greenblum continues as Chairman of the Board and CEO, and Clive Brookes as CFO. All other resolutions were passed as set out in the Notice of Annual General Meeting.
The Company continues its efforts to secure sources of funding and qualified participants for its projects.
Newly elected member to the Board of Directors, Eliecer Palacios, is a Senior Vice President and the Energy Strategist with Maxim Group in New York City, where he focuses on identifying investment opportunities in the oil & gas space across the capital structure. Prior to joining Maxim Group, he was an equity analyst with Carrelton Asset Management, natural resources long/short equity fund, where he covered mid & small cap exploration & production, refining, offshore drilling and services companies. Prior to Carrelton, he traded crude oil, refined products and natural gas derivatives for Citigroup's energy trading desk based in Houston and was an analyst at Tribeca Global Management covering refiners for a long/short equity energy/utilities hedge fund. Mr. Palacios has an MBA from the Johnson School at Cornell University and a BA in Economics from Instituto Tecnologico Autonomo de Mexico.
Jeff Greenblum, EnerGulf Chairman and CEO comments, "We are finding strong interest in our projects among various major and mid-size energy companies. Drilling activity continues in Namibia with Galp Energia of Portugal's recent partnership with HRT of Brazil in three offshore blocks. BP, Petrobras and Tullow are also active in the area. We believe we have two world- class projects with relatively low geological and geopolitical risk compared to other West Africa opportunities. We are confident that the quality of our Namibian and DRC assets will continue to attract the interest of oil majors and large independents in the region. We have worked hard, so that the DRC Lotshi Block is now drill ready. Also, we are delighted to have Eliecer Palacios join our Board and look forward to benefiting from his considerable expertise in the energy and capital markets."
On Behalf of the Board of Directors of
ENERGULF RESOURCES INC.
"Jeff Greenblum"
Jeffrey L. Greenblum
Chairman & CEO
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.
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.
EnerGulf Resources Inc.4005 - 1011 West Cordova Street, Vancouver, British Columbia V6C 0B2
Telephone: (604) 408-1990 Fax: (604) 608-4822
www.energulf.com info@energulf.com
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