EnerGulf secures PEL offshore Namibia: "EnerGulf Namibia Ltd. has formally been assigned a 10% working interest in offshore Namibia block 1711 by the Minster of Mines and Energy of the Republic of Namibia concurrent with the signing of a petroleum exploration license agreement.
EnerGulf has been granted a 10% working interest (paying 10% of the exploration and development costs), being a 9.5% net revenue interest (after the underlying royalty to Namibia).
The operator of the block is Sintezneftegaz Namibia Ltd., a subsidiary of Sintezneftegaz, a Federation of Russia oil and gas company based in Moscow, with a 70% interest. "
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