EnerGulf Announces Private Placement to Raise $2 Million

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES. 

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

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 FURTHER INFORMATION PLEASE CONTACT: 
For Investor Relations Inquiries, please contact:
Benjamin Curry / Andrew Mugridge
Network IR
[phone]
[e-mail]