Offshore Staff

(US, GoM) – Entek Energy Ltd. says it is participating in the drilling of an exploration well in State Lease No. M-106410, block 24-L S/2 SW/4, offshore Texas, which is scheduled to spud by July 19.

The 40-day well will target an approximate depth of 4,326 m.

Entek is farming out its 20% interest in the block as well to US based independents for a free carry in the well and in so doing is retaining a 5% working interest before royalty burden.

In addition, Entek says it remains committed to increasing its interest and activity in the Gulf of Mexico in what it considers low risk oil and gas targets in shallow waters with an established infrastructure to facilitate early exploitation of any discovery.

The company's participation in this block follows its recently announced farm-in to Gulf properties in South Marsh Island blocks 138 and 152.

07/12/06