sintezneftegaz update, page-2

Further to that mudguy, may see a further update from energulf next week.

http://www.energulf.com/news/05_28_2008.pdf

http://energy.ihs.com/News/WW-News/news-2008/sintezneftegaz-spuds-first-well-in-block-1711-namibia.htm

“The Kunene Prospect, defined originally by 2D and confirmed by a 650 sq km 3D seismic survey acquired by former operator Vanco Energy in 2000, is a Cretaceous structure that appears to be a carbonate buildup, sealed by a thick Tertiary shale sequence. The structure forms a four-way dip closure covering 82 sq km with a vertical closure of over 400m.

Resource estimates range from 450 MMBo and 445 Bcf (oil case estimate P+P) or 2.5 Tcf and 38 MMBo (gas case estimate P+P). The Block 1711 Joint Operating Committee (JOC) includes Sintezneftegaz (operator 70%), EnerGulf (10%) and PetroSA (10%). The national petroleum company Namcor (7% carried) and a local BEE group has 3% carried interests in the permit.”