EnerGulf Resources Inc. advises there are no undisclosed material changes to the company’s affairs to account for the recent rise in stock price.

The Company previously advised by News Release dated December 11, 2007 that the drilling of the Kunene #1 in Namibia is expected to start between January 11, 2008 and February 15, 2008, utilizing the drillship Deep Venture. Sintezneftegaz, the operator, has contracted on behalf of itself and the other co-venturers on Block 1711, EnerGulf, PetroSA and NAMCOR, with Esso Exploration Inc., a division of ExxonMobil, and Larsen Oil and Gas Ltd. (Venture Drilling) for use of the drillship as soon as it completes the drilling of ExxonMobil’s well offshore Angola. Based on current information, the drillship is expected to be available for mobilization to the Kunene #1 late January to early February 2008, however, this remains subject to completion of ExxonMobil’s well.

Aren't we getting a little close to the deadline? Word has it they don't even have a ship in the area yet