Energulf Resources Inc : September 11, 2013 - EnergGulf Announces Private Placement to Raise $2 Million

NEWS RELEASE Symbol: TSX-V: ENG

September 12, 2013 For Immediate Dissemination

Not for dissemination in the United States or through U.S. newswires.

NEWS RELEASE September 12, 2013 ENERGULF ANNOUNCES PRIVATE PLACEMENT TO RAISE $2 MILLION

Dallas, Texas (September 12, 2013), EnerGulf Resources Inc. (TSX-V: ENG; FSE:EKS) ("EnerGulf" or "the Company") is pleased to announce a non-brokered private placement of up to 10 million units at a price of $0.20 per unit for gross proceeds to the Company of up to $2 million. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a period of 24 months from the date of issuance at a price of $0.35 per share. The warrants will be subject to acceleration in the event the trading price of the shares of the Company closes at or above $1.00 per share for 10 consecutive trading days at any time after four months from closing of the private placement.
The net proceeds of the offering will be used for the Lotshi Block (Democratic Republic of Congo) and Block 1711 (offshore Namibia) projects and for general working capital. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange with respect to all or a portion of the private placement. Certain insiders of the Company will be participating in the offering.
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.

For Investor Relations Inquiries Please Contact: Benjamin Curry / Andrew Mugridge
Network IR [phone]
Email: [e-mail]

EnerGulf Resources Inc. 4005 - 1011 West Cordova Street, Vancouver, British Columbia V6C 0B2

Telephone: [phone] Fax: [phone] www.energulf.com [e-mail]