Entek Energy Limited (Entek) advises gas production from its interest in the High Island 24L Block is stabilising at near anticipated rates and that facilities commissioning is on schedule.

On October 18th 2007 gas production from the High Island 24L Block in the Outer Continental Shelf of the Gulf of Mexico commenced (as reported in the Company’s ASX release on October 23rd 2007).

Production during the month of October 2007 was limited as wells where opened and then shut in during commissioning.

In November 2007 gas production was 1,914 MMscf at an average day rate of 63.817 MMscf/D. Condensate production for the month was 14,865 barrels (495 barrels of condensate per day), or 7.76 barrels of condensate per MMscf .

The average for Henry Hub Natural Gas Spot Price in November 2007 was $7.12 per million British Thermal units (MMBTU) or approximately US$7,100 per MMscf of natural gas.

Importantly there was only 73 well hours lost during the month, indicating that commissioning has been successfully carried out with minimal downtime (downtime limited to 5% for the month of November 2007).

Entek Energy Limited’s wholly owned subsidiary Entek USA Limited LLC, holds a 5% Working Interest the producing blocks.

Tags: Entek Energy Limited