| ENTEK'S FIRST GULF OF MEXICO DISCOVERY:
HIGH ISLAND BLOCK 24-L S/2 SW/4
Entek aquired a 20% interest in HIGH ISLAND BLOCK 24-L S/2 SW/4 and to reduce risk sought farminees. Entek retained a 5% Working Interest for free carry to 105% of cost (US$11,244,450) to casing point in a 14,500 foot well.
The Outcome: A Significant Discovery
DISCOVERY VALUE TO ENTEK: $0.22 per share
SOURCE: StockAnalysis, Entek Special Issue, November 23rd 2006
(Written under AFSL: 259730)
HIGH ISLAND BLOCK 25-L S/2 SE/4
Discovery Well No. 1 was followed by an equally successful development second well (Discovery Well No. 2), proving the size of the prospect. Entek holds a 5% interest in HIGH ISLAND BLOCK 25-L S/2 SE/4.
High Island 24-L #1 - Discovery Well
Spud Date: 30 July 06
Test Results: - Flow Rate 47.5 MMscfD
- Oil Rate 312 BCPD
- FTP 6,040 psi
- SIWHP 10,111 psi |
|
High Island 25-L #1 - Second Well
Spud Date: 6 Jan 07
Test Results: - Flow Rate 50.5 MMscfD
- Oil Rate 384 BCPD |
For further information see the following Company Announcements:
|
