ENG Energulf Resources (delisted)

EnerGulf Resources Inc. (TSX VENTURE:ENG)(FRANKFURT: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. 


Lotshi Block, onshore DRC: The Lotshi Block onshore Democratic Republic of Congo
("DRC") is drill ready with plans for a 3-4 well drill program for the summer of
2013. The Block is situated on the far west side of the DRC contiguous to
Cabinda, Angola, next to the Atlantic Ocean. As previously reported, a
prospective resource estimate for the Lotshi Block has been prepared and
includes a mean estimate of 313,176,000 barrels of potentially recoverable oil.
The report was prepared by DeGolyer and MacNaughton (D&M), an independent
international petroleum consulting firm located in Dallas, Texas. The report is
available on SEDAR and on the EnerGulf website. The block is believed to be on
trend with the billion barrel M'boundi field in Republic of Congo. EnerGulf has
also recently completed the construction of a school and a health clinic on the
Block for the local communities, per the terms of the Production Sharing
Contract. 


Block 1711, offshore Namibia: EnerGulf continues on behalf of the Government of
Namibia to find a majority participant for Block 1711. The Company is marketing
the project and is conducting data room presentations with qualified industry
potential participants. The Company intends to secure a JV participant in the
first half of 2013. A prospective resource report for Block 1711 was prepared
covering four prospects and nine leads. The report includes a mean estimate of
3,166,000,000 barrels of potentially recoverable oil. The report was prepared by
independent oil and natural gas reservoir engineers Netherland Sewell and
Associates Inc. of Dallas, Texas, and is available on SEDAR and the EnerGulf
website. EnerGulf has a 15% working interest in Block 1711. The upcoming work
program calls for a 3D seismic program in the southern part of the Block with a
follow up well.


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.

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
EnerGulf Resources Inc.
Sokhie Puar
Corporate Development
(604) 408-1990
(604) 608-4822 (FAX)
info@energulf.com
www.energulf.com

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