Entek Energy will now initiate independent certification of the proven, probable and possible reserves on the block. Entek Energy was high bidder on five blocks at the recently held Minerals Management Service (MMS) Federal offshore oil and gas lease sale for the Gulf of Mexico held on August 19, 2009. Confirmation from the MMS of award of GA A133 is the first of the five blocks to be officially awarded to Entek Energy.
Chief Executive Officer Comments, “The GA A133 block is a significant addition to our Gulf of Mexico low risk portfolio. The Block has proven reserves and is within easy tie back to a new processing platform in an adjacent block, which allows us to proceed rapidly to production. We have held discussions with an interested and experienced operator in the area – a testament to the significant potential and value of the Block. We are confident with our internal estimate of reserves and will have independent certification of these reserves commenced immediately.”
