Entek Energy Limited’s wholly owned subsidiary Entek USA General LLC registered apparent high bid at the Central Gulf of Mexico Planning Area Sale 206, on Block No. 252 (OCS G32258) in the Main Pass Area, South and East Addition.

OCS G32258 comprises 4,994.55 acres. Water depth is approximately 253 feet. The bid price was US$558,088. Other costs incurred were US$125,000.

The Minerals Management Service in the US will now conduct its bid evaluation process and grant of the lease is at the discretion of the Minerals Management Service. Phase 1 & 2 of the Bid Evaluation can take from 21 to 90 days from the sale date of March 19th 2008.

Entek is continually reviewing opportunities in the Outer Continental Shelf waters of the Gulf of Mexico and in consultation with its US consultants considered Main Pass Block 252 met the company’s low risk exploration guidelines.

Directors consider Main Pass Block 252 has the potential to provide additional reserves and early production to add to the current High Island Block 24L producing asset.

Tags: Entek Energy Limited