EnerGulf Resources Inc. said this week that drilling has commenced on the Kunene 1 well on Block 1711 offshore near the Namibian/Angolan border. EnergyGulf said in a statement that the costs to drill the well to the targeted total depth of 4 400 metres below sea level are estimated to be approximately US$79 million, with an additional US$9 million likely to be included, if decided by the co-venturers to penetrate deeper to up to 5 500 metres below sea level.

The drilling time is estimated to be approximately 50 to 60 days for 4 400 metres and an additional 10 days to reach 5 500 metres.
EnerGulf has a 10% interest in Block 1711 and is responsible for 10% of the costs.
Block 1711 is situated in the Namibe Basin off the northern coast of Namibia and along the international boundary with Angola. The two separate exploration prospects, the Kunene and Hartmann, have been identified by extensive modern seismic data on the block.
Based on a Prospective Resource Assessment provided by Netherland Sewell & Associates, the co-venturers are targeting a potential multi-billion barrel oil and gas resource on Block 1711.
Commenting for EnerGulf, chairman of the Board and CEO, Jeff Greenblum said, “We are very pleased to announce the commencement of drilling on Block 1711 in the Republic of Namibia. Our evaluation of Block 1711 indicates the potential for a world-class hydrocarbon reservoir. At this time of historic energy prices, we look forward to the results of this initial test well. Our capital structure allows us the flexibility to drill the Kunene 1, as we initiate our exploration program for the Lotshi Block in the Democratic Republic of Congo.”