Entek wins Garden Banks block

Entek Energy has won its bid for Garden Banks block 115 in the Gulf of Mexico.

Offshore Staff

PERTH, Australia-- Entek Energy has won its bid for Garden Banks block 115 in the Gulf of Mexico.

The Cascade Prospect in the block is ready to drill, says Entek.

•Resource estimate: 10 – 20 bcf, at 1,100 m (3,600 ft) subsea.
•Hydrocarbon expected: gas/condensate.
•Geologic control: tests in the area exhibiting good reservoir characteristics, with seismic control utilizing Western Geco 3D over the prospect.
•Hydrocarbon indicators - amplitude anomaly, flat spot, and down-dip conformance.

Entek holds a 100% working interest in Garden Banks 115 and plans to immediately commence farm-out of up to 70%.

01/25/2008

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