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ETKEF: 88 Energy Ltd Acquired XCD Energy Ltd for Stock of 2.4 shares of 88 Energy Ltd.
FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
Entek Energy Ltd. changed to XCD Energy Ltd.:
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ETKTF one for 4 reverse split:
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Court ruling IN ENTEK’S FAVOUR, release date Aug. 18, 2014
text-here
Entek response to ASX query, released Aug. 18, 2014
text-here
Wake up everyone... this stock might not be dead after all.
2011 Niobrara Appraisal Program Update
Entek provides the following update on its 2011 Niobrara Appraisal Program.
This release also contains new information in relation to recent industry results in the Niobrara Play and the Company’s future work program.
Three vertical appraisal wells were successfully drilled through the Niobrara section and completed on budget in 2011. All of these wells intersected multiple naturally fractured oil charged zones within the Niobrara shale.
The wells have not been fracture stimulated, and were drilled as appraisal wells to identify the most productive zones within the Niobrara and to obtain technical information necessary to design and execute effective fracture stimulation treatments in 2012.
All of these unfracced wells are producing 40° API, light high quality oil, with no associated water from the Niobrara, with initial production of about 10 BOPD and Gas Oil Ratio (GOR) of between 1000 and 2000 scf/bbl. Data collected from the wells during completion indicates that only limited connection has been made to natural fractures close to the well bore, as expected from the small scale oil break downs performed. Full fracture stimulation planned for 2012 will be designed to open more of the perforations and connect to a much more significant fracture network further away from the well bore, which should result in increased flow rates and ultimate oil recovery.
A vast amount of data was collected from the 2011 appraisal program,
significantly advancing our understanding of the Niobrara Shale, including the oil breakdown pressure information considered critical to designing effective fracture stimulations. This data is now under evaluation to design the most effective completion and fracture stimulation configurations for each of the oil charged zones within the Niobrara.
All the wells were completed to facilitate re-entry and fracture stimulation in 2012, or alternatively sidetracking into horizontal section for future completion.GRB Drilling Activity.
In the Green River Basin (GRB) to the south of Entek’s acreage (approximately 25 miles), Gulfport, Shell and Quicksilver have recently publically disclosed information from their respective 2011 drilling programs.
* Gulfport has drilled 3 vertical appraisal wells, has installed pumps and is currently commencing production operations. No information on oil production rates is available at this point.
* Shell, using 2 rigs, embarked on a significant program including at least 2 horizontal wells, with initial production reports expected in early 2012. In addition to their new wells Shell is understood to have
stimulated/recompleted two existing vertical Niobrara wells which are currently producing between 80 and 100 BOPD.
*Quicksilver drilled 6 vertical wells and 1 horizontal well in 2011 and experimented with various fracture stimulation designs. To date they have publically discussed flow rates from a number of their vertical wells with around 100 BOPD from single fracture stimulated intervals in each well, a positive result given the multiple stacked productive zones that exist in the Niobrara in the GRB. Quicksilver have also published a type curve for vertical wells with initial production of 70 BOPD with an estimated ultimate recovery of 225,000 BO, which has a very respectable 30% IRR.
It is not unreasonable to anticipate that the Entek’s unstimulated wells, once effectively fracture stimulated,will perform similarly to those recently announced by both Quicksilver and Shell. Significantly, Quicksilver have also recently announced the flow rate results of their first horizontal well in the GRB. The well is producing at a rate of over 500 BOPD on restriction, maintaining good pressure after a month of
production from effectively a 1,500 ft fracture stimulated lateral section.
Based on experience and results from more mature shale plays Quicksilver expects future production wells in the GRB to have lateral sections of up to 6,000 ft which will be fully fracture stimulated, where significantly higher rates can be expected.
In summary, the drilling activity in the GRB Niobrara Shale Play is evidence that experienced US shale companies are committing substantial expenditure to accelerate proving the potential of the play around
Entek's acreage, and that their efforts are being met with success. Quicksilver and Shell have successfully shown that the Niobrara Shale in the GRB can be effectively fracture stimulated resulting in substantial oil production potential. Based on industry activity and results, Entek believes acreage values should rise significantly within the next 12 months.
Forward Plan
The Company is working the data from the 2011 appraisal program and planning the 2012 work program, with fracture stimulation of the existing wells, new vertical appraisal wells and horizontal wells being considered.
Access for operations other than production opens up again on the 1st of July for wells located on Federal lands. The Company is hopeful of gaining early access between March and July to perform fracture stimulation on the existing wells. New operations can take place on Fee and State leases all year round as these are not subject to
the same seasonal restrictions as Federal lands.
The Company will operate and control over 110,000 gross acres, approximately 91,000 net acres, covering the Niobrara Play in Colorado and Wyoming following the closing of a recently announced acquisition (ASX Release dated 22 December 2011).
Entek holds a 55% working interest in the existing Niobrara project, with Emerald Oil & Gas NL (Emerald)holding the remaining 45%. Under the Area of Mutual Interest Agreement between Entek and Emerald, 45%
of the new acreage acquisition will be offered to Emerald for proportionate consideration. If Emerald takes up its 45% interest, Entek will have over 50,000 net acres in the Niobrara shale play; should Emerald not participate, Entek will have closer to 60,000 net acres in the play.
The map below represents the geographic extent of the gross acreage position including the new leases.Commenting on the recent Company and industry results, Entek’s Executive Director, Trent Spry said:
“The flow rates of our three wells are in line with expectations for unstimulated wells. Once fracture stimulated we expect these wells to perform similarly to those recently announced by Shell and Quicksilver in the Green River Basin.
Entek’s 2011 strategy has yielded vast amounts of data significantly advancing our understanding of the Niobrara Shale, while other companies in the play have undertaken early horizontal drilling and significant fracture stimulation programs, trialing alternative fluid types, breakdowns and stimulation methods including
larger oil and gas fracture stimulations.
Industry results in 2011 have been very encouraging, effectively proving that the Niobrara in the Green River Basin is at least as productive as in the DJ Basin where the play is more mature.
Entek is now in a position to more effectively apply the technology being demonstrated by others to unlock the play and we will be working diligently with our consultants, contractors and working interest partner over the coming months to plan our 2012 program”.
Further information on the Company is available at: www.entekenergy.com.au
ENTEK SIGNIFICANTLY INCREASES LEASE HOLDING IN NIOBRARA SHALE PLAY
Entek is pleased to announce that it has entered into an agreement to acquire an acreage package of over 28,000 gross acres (around 19,000 net acres) adjacent to its existing lease position covering the highly prospective Niobrara Shale Oil Play in the Green River Basin. The consideration of around US$2.5 million is subject to Entek finalising its due diligence process.
On closing of this acquisition the Company will operate and control over 110,000 gross acres, approximately 91,000 net acres, covering the Niobrara Play in Colorado and Wyoming. Entek holds a 55% working interest in the existing Niobrara project, with Emerald Oil & Gas NL (Emerald) holding the remaining 45%. Under the Area of Mutual Interest (AMI) Agreement between Entek and Emerald, 45% of the new acreage will be offered to Emerald for proportionate consideration. If Emerald takes up its 45% interest, Entek will have over 50,000 net acres in the Niobrara shale play; should Emerald not participate, Entek will have closer to 60,000 net acres in the play.
The map below represents the geographic extent of the gross acreage position including the new leases. 2 ENTEK SIGNIFICANTLY INCEASES LEASE HOLDING IN NIOBRARA SHALE PLAY
Commenting on the acquisition, Entek’s Executive Director, Trent Spry, said: “This is a fantastic result built on relationships that we have nurtured over the past 18 months. The transaction pricing is a result of negotiations around Entek’s dominant acreage position and the benefits of consolidating the new leases for both parties by way of the vendor retaining a royalty interest in these leases and delivering to Entek an 80% net revenue interest. This has resulted in a significantly lower price per acre paid compared to market.
The Company’s lease acquisition strategy this year has resulted in close to a doubling of its acreage holding. The addition of this acreage builds on Entek’s already dominant position in the area. Having control of over 110,000 acres in the Niobrara Shale Play affords Entek great flexibility when planning the future development of the play. A land holding of this significance is likely to attract the attention of large companies with an appetite for unconventional resource assets.
Similar to our existing lease holdings, the newly acquired leases are a mixture of Federal, State and Fee leases with significant remaining lease term or existing renewal options. The Company’s dominant, long term lease position allows for time to appraise the acreage prior to moving into a large scale development phase.
The timing of this acquisition is ideal given the encouragement we have seen from our 2011 appraisal wells as well as early results from nearby industry activity.”
Well this newest update makes it sound like there is hope for 2012...
That would be nice!
MB
2011 NIOBRARA APPRAISAL PROGRAM UPDATE
Entek provides the following update on its 2011 Niobrara Appraisal Program.
Three vertical Niobrara appraisal wells were successfully drilled and completed on budget in 2011. The wells were designed as appraisal wells to identify the most productive zones within the Niobrara and to gather technical information necessary to design and execute effective fracture stimulation treatments for the 2012 drilling program, where both directional and horizontal wells are being planned.
The 2011 wells intersected multiple naturally fractured oil bearing zones within the Niobrara shale as well as penetrating the hydrocarbon bearing Frontier Formation which was tested in the Battle Mountain 14-10 well at over 20 BOPD and 200 MCFGD.
Following the installation of production facilities at all three well sites, pumping operations have recently been commenced. The wells are all producing 40O API oil with no water from the Niobrara. To date consistent rates have not been achieved as the Company trials different downhole pump configurations and surface production systems. Production updates will be provided once stabilised production rates have been achieved over the next few weeks.
Individual zones in the wells were treated with water based and CO2 based mini fracture stimulation treatments as well as oil breakdowns to establish communication of the natural fracture systems with the wellbore. The small size of these treatments mean that the wells are understimulated relative to wells designed for oil production and are demonstrating the results of connection to natural fractures in the immediate area of the wellbore only. Data gathered while drilling, logging, testing and completing each well is being analysed to determine the contribution from each of the Niobrara zones. A vast amount of data was collected from the 2011 appraisal program significantly advancing our understanding of the Niobrara Shale in the Company’s area of interest. In addition to drilling three new wells this year, the Butter Lake 32-10 vertical well has been re-entered and suspended ready for side tracking and fracture stimulation next year based on the results seen in the 2011 wells. The Butter Lake 32-10 well flowed oil at an average rate of 35 BOPD, interpreted to be from a single un-stimulated Niobrara zone with significant formation damage and completion limitations.
The fractured igneous intrusive reservoirs that are present in this area will be further evaluated in 2012. The Company’s Focus Ranch 12-1 well (which was tested in 2009 at a cumulative rate of 240 BOPD and 2.75 MMCFD) has already indicated the potential of the igneous intrusive reservoirs in the area.
Information on industry results to date has been scarce, as a competitive environment exists and companies generally disclose as little as possible until required to do so by regulation.
In the Green River Basin (GRB), around the Craig Dome area located approximately 30 miles to the South of Entek’s acreage, Gulfport, Shell and Quicksilver have publically disclosed information.
Gulfport has drilled 3 vertical appraisal wells, has installed pumps and is currently commencing production operations. No information on oil production rates is yet available.
Quicksilver has drilled 6 vertical wells and 1 horizontal well in 2011 and have experimented with various fracture stimulation designs. To date they have only publically announced flow rates from two wells between 50 and 100 BOPD from single fracture stimulated intervals in each well, a positive result given the multiple stacked potentially productive zones that exist in the Niobrara in this area.Quicksilver have established a type curve for vertical wells with initial production (IP) of 70 BOPD with an estimated ultimate recovery (EUR) of 225,000 BO, which has a very respectable 30% IRR.
Shell commenced a significant drilling program using 2 rigs, which they intend to complete by the end of 2011. A number of wells including at least 2 horizontal wells from the same drill pad have been drilled to date, with initial production expected in December and January. In addition to their new wells, Shell upgraded two existing Niobrara wells which are currently producing between 80 and 100 BOPD.
While in the North Park Basin, only 50 miles to the East of Entek’s acreage the latest well, Silver Spur Minerals 35-2 (believed to be vertical with a possible short lateral section and fracture stimulated) has reported an initial rate of 245 BOPD. In close proximity EOG had previously drilled four horizontal wells that reported initial rates of between 223 BOPD and 550 BOPD. It is believed that EOG has been following up these wells with a drilling program this year. No information on oil production rates from this year’s wells is yet available.
The drilling activity is evidence that experienced US shale companies are committing substantial expenditure to accelerate proving the potential of the GRB Niobrara shale play around the Company's acreage. The result to date, based on limited production information available, is very encouraging. Based on this activity, Entek believes acreage values will rise significantly within the next 12 months.
It is also worth noting that several vertical Niobrara wells in the GRB have produced at rates of several hundred BOPD. This includes a vertical, unstimulated well in the Sierra Madre Field. The Sierra Madre 12-20 well owned by Anadarko is approximately 8 miles from the wells drilled by Entek this year, had initial production of around 550 BOPD, has recovered in excess of 355,000 BO and is still on production. Similarly, another vertical unstimulated well in the Buck Peak Field 30 miles to the south initially produced at 480 BOPD and has recovered over 1.3 million BO.
Entek currently controls close to 86,000 gross acres, approximately 72,000 net acres, covering the Niobrara Shale Oil Play. Entek is Operator and holds a 55% working interest (approx. 40,000 net acres) in the project with Emerald Oil & Gas NL (“Emerald”) holding 45%.
Commenting on the recent production testing, Entek’s Executive Director, Trent Spry, said:
“We are encouraged by the results we have seen so far this year and will report stabilised production rates as they become available.
The Green River Basin is an exciting area to have such a dominant position in the Niobrara Shale Oil Play given the high rate, high recovery vertical unstimulated well results historically seen in the basin including Sierra Madre and Buck Peak.
With the vast amount of data collected from the 2011 appraisal program significantly advancing our understanding of the Niobrara Shale we are in a position to compare our results with those of other companies in the greater Green River Basin, who have been trialing alternative fluid types, breakdowns and stimulation methods including larger oil and gas fracture stimulations which are at a significantly higher cost compared to the program run by Entek. During 2011 each company has invested considerable capital in trailing alternatives that will result in the unlocking of the Niobrara in this area in the coming year.
The 2011 wells drilled by Entek were designed to deliberately allow re-entry for future fracture stimulations optimized after analysis of recent industry results. These wells also allow for horizontal drilling out of the existing well bores.
This year Entek, as a relatively small company, has effectively placed itself in a position to be able to benefit in a cost effective manner from the technical work, including larger fracture stimulation trials, performed by larger companies to unlock the potential of the Niobrara Sale Play.
The Company is maintaining its strategy to acquire more acreage in this highly prospective area.”
Further information on the Company is available at: www.entekenergy.com.au
November 28, 2011 Entek Update:
2011 Appraisal Program Status:
C&C Cattle 18-8[/b – Four zones in the Niobrara were completed with oil breakdowns & a CO2 based mini-frac. Pumping operations are about to commence, comingled from the Niobrara only.
Slater Dome (SD) Federal 24-9 – Five target zones in the Niobrara were completed with oil breakdowns & water based mini-frac. Production tubing is currently being run; following this the pumping unit will be set.
BattleMountain 14-10 – Four target zones in the Niobrara were completed with oil breakdowns, CO2 & water based mini-fracs. Plugs set between each breakdown are currently being drilled out.
Data gathered while testing and completing each well will be analysed to determine the flow rate contribution from each of the Niobrara zones.
Niobrara Shale Oil – Next Steps
* 2011 wells now completed and being tested directly to sales
* Initial flow rates from all wells expected by second week of December
* 2012Work Program to be agreed & announced early 2012
* Perform optimised fracture stimulation treatment to the wells early in next year’s work program, based on knowledge gained in 2011 (both internal & industry)
* Continue efforts to pursue ‘bolt on’ acreage opportunities
* Explore strategic alliances & partnerships with Industry Leaders
ENTEK INCREASES ACREAGE POSITION IN NIOBRARA SHALE OIL PROJECT
During 2011 Entek has continued to acquire acreage within the Niobrara Shale Oil Project area in the Green River Basin. As a result the Company now controls close to 86,000 gross acres, approximately 72,000 net acres, covering the Niobrara Shale Oil Play.
Entek is Operator and holds a 55% working interest (approx. 40,000 net acres) in the project with Emerald Oil & Gas NL holding 45%.
NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE
On 9/22/11, Entek provided the following update on the Niobrara Shale Oil Project Appraisal Program in the Green River Basin.
[b]Battle Mountain 14-10L – As predicted, in addition to potentially productive zones above and below, the well encountered three benches in the Niobrara shale. The highly prospective upper and middle benches, from which oil is produced in the greater area, and the previously untested lower bench. For operational reasons the decision was made on this first well to test all zones of interest from the bottom up. A fracture stimulation operation was successfully completed on the
Frontier Formation with the first treatment. The fracture stimulation on the lower Niobrara bench carried out since the last update has only been partially successful and results will now be analysed by Halliburton and independent experts. The next fracture stimulation on this well, scheduled for mid-late October, will target one of the remaining Niobrara benches. Depending on post-frac analysis results, the lower bench may also be re-stimulated before producing the well with production from all zones co-mingled.
Slater Dome (SD) Federal 24-9DLST – The well reached its total depth of 8,105 ft after penetrating the Niobrara and Frontier target zones. Wire-line logs have been successfully run and the well is currently running casing. Preliminary interpretation of the well log data is encouraging
and will now be reviewed to design a fracture stimulation program for all prospective intervals. The next scheduled timing for the frac operation is expected around mid-late October. The DHS
18 rig will be released upon completion of casing and cementing the well.
C&C Cattle 18-8 – [/i]The well reached its total depth of 6,700 ft after penetrating the Niobrara and Frontier target zones. The total depth is shallower than planned due to the target formations coming in higher than expected. Wire-line logs have been successfully run and casing set. The casing is currently being cemented. As with the 24-9 well, the encouraging data from the well will be reviewed and a fracture stimulation program will be designed for all prospective intervals. The
next scheduled timing for the frac operation is expected around mid-late October. The DHS 19 rig will be released upon completion of casing and cementing the well.
Please Note – This release will be the last weekly appraisal program update. In future, updates will be provided as and when results determine.
NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE
On September 15th, 2011 Entek provided an update on the Niobrara Shale Oil Project Appraisal Program in the Green River Basin.
Battle Mountain 14-10L – The fracture stimulation program will commence around the 20th September 2011 after Halliburton completes work for another operator.
Slater Dome (SD) Federal 24-9DLST – Following last week’s decision to sidetrack the well, the new wellbore is at a depth of 6,650 ft, immediately above the Niobrara Formation. Wire-line logs have been run, and intermediate casing set, with the current operation cementing casing. The well is expected to drill out into the target Niobrara Shale within 48 hours. The planned total depth for the well is around 8,500 ft.
C&C Cattle 18-8 – The well is currently at a depth of 3,500 ft and drilling ahead. The planned total depth for the well is 8,000 ft.
NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE
On September 8th, Entek provided the following update on the Niobrara Shale Oil Project Appraisal Program in the Green River Basin.
Battle Mountain 14-10L – Pressure analysis has been performed on the first of the Niobrara zones to be tested in the well to refine the fracture stimulation program, which is on schedule for around 15th September 2011.
Slater Dome (SD) Federal 24-9DL – The decision was made to cease recovery operation in the original open-hole and to re-drill the Niobrara section in the well. A cement plug was set in the original open-hole section and the new sidetrack hole is currently being drilled at a depth of 4,700 ft, with total depth expected to be reached within the week, after which the well will be wire-line logged and cased and cemented in preparation for testing.
C&C Cattle 18-8 – DHS Rig 19 is set up on location and is expected to spud the well within the
next 24 hours. The decision to bring in a second drill rig for the third well, while DHS Rig 18 completes the 24-9 well, will ensure we have all three wells prepared for the October and
November fracture stimulation dates.
NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE
Entek is pleased to provide an update on the Niobrara Shale Oil Project Appraisal Program in the Green River Basin.
Battle Mountain 14-10L – The Frontier (secondary objective) has been successfully fracture stimulated. Limited testing has been performed before completion and testing operations start on the lowest of the Niobrara Benches in the well. Test results suggest the discovery of an oil prone sweet-spot in the Frontier Formation which is part of the Mowry Shale Resource Play. The play has been a secondary target across the Company’s acreage since it tested hydrocarbons at an initial rate of 1.2 MMCFD and 10 BOPD in the Focus Ranch 12-1 well and since has shown significant oil and gas shows in each well where penetrated across the acreage. Test results suggest that the 14 ft perforated zone in the Battle Mountain 14-10 well will be capable of around 20 BOPD and over 100 MCFD. It is most likely that the production from the Frontier will be comingled with production from the Niobrara once planned completion and testing operations in the well are complete. In the future the Frontier, like the Niobrara, is likely
to become a candidate for horizontal drilling. The Company will provide an update as the appraisal program continues on the potential of the Frontier and Mowry Shale Resource Play across its acreage position.
The completion program for the Niobrara (primary objective), which includes fracture stimulation and testing, will be initiated this week with fracture stimulation planned around 15th September.
Slater Dome (SD) Federal 24-9DL – The well has successfully reached its total depth of 8,300 ft after penetrating both the Niobrara and Frontier Formations. The well had significant oil and gas shows whilst drilling and was prepared for logging, with good hole condition reported. Whilst pulling out of hole to run wireline logs a drill string connection mechanically failed. Operations are continuing to remove the drill string from the hole prior to logging.
C&C Cattle 18-8 – Location preparation is complete. It is anticipated that the rig will be mobilized from the 24-9 location to the 18-8 location over the next week. An additional rig is on standby to
mobilize to the 18-8 location if operations on the 24-9 well take longer than expected.
NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE
Entek is pleased to provide an update on the Niobrara Shale Oil Project Appraisal Program in the Green River Basin.
Battle Mountain 14-10L – The well is currently being prepared for testing in the Frontier Sandstone secondary objective. The completion procedure, which includes testing and fracture stimulation for the potential Niobrara pay zones is currently being refined by Halliburton. Completion operations for the Niobrara are expected to start in September 2011.
Slater Dome (SD) Federal 24-9DL – The well has been spudded and is currently drilling the surface hole section at 400 ft. Casing is planned to be set at 2,500 ft before drilling the remainder of the well. The planned total depth of the well is 8,627 ft.
NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE
Entek is pleased to provide an update on the Niobrara Shale Oil Project Appraisal Program in the Green River Basin.
Battle Mountain 14-10L [url][/url][tag]insert-text-here[/tag]– The well is currently being prepared for testing in the Frontier Sandstone secondary objective. The completion procedure, which includes testing and fracture stimulation for the potential Niobrara pay zones is currently being refined by Halliburton.
Completion operations for the Niobrara are expected to start in September 2011.
Slater Dome (SD) Federal 24-9DL [url][/url][tag]insert-text-here[/tag]– The well has been spudded and is currently drilling the surface hole section at 400 ft. Casing is planned to be set at 2,500 ft before drilling the remainder of the well. The planned total depth of the well is 8,627 ft.
Entek (ASX:ETE) holds a 55% interest in the Green River Basin Joint Venture (GRBJV) with Emerald Oil & Gas NL (ASX:EMR) holding 45%. Entek is the Operator. The GRBJV now controls close to 80,000 gross acres, approximately 60,000 net acres, covering the Niobrara Shale Oil Play.
NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE - 8/4/11
Battle Mountain 14-10L – The well has reached its total depth of 7,500 ft. Wire-line logs have been run and the well has been successfully cased and cemented ready for completion.
Preliminary interpretation of wire-line logs and correlation to offset wells show that the Niobrara section in this well contains significant potential pay zones (‘benches’), as expected.
In addition the Frontier Sandstone exhibits hydrocarbon saturation and is also being considered as a pay zone for fracture stimulation and completion. The fracture stimulation program is currently being designed with Halliburton and is expected to start in August 2011.
This looks very encouraging for the Niobrara play!
April 2011 analyst report
http://www.entekenergy.com.au/assets/Uploads/ETE7Apr11-Euroz-Report.pdf
NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE
21 July 2011Entek is pleased to provide an update on the Niobrara Shale Oil Project Appraisal Program in the
Green River Basin.
Battle Mountain 14-10L – current operation, drilling ahead at 805 ft after setting surface casing
and testing rig equipment. The proposed total depth of the well is 7,600 ft.
Entek (ASX:ETE) holds a 55% interest in the Green River Basin Joint Venture (GRBJV) with Emerald
Oil & Gas NL (ASX:EMR) holding 45%. Entek is the Operator. The GRBJV now controls close to
80,000 gross acres, approximately 60,000 net acres, covering the Niobrara Shale Oil Play
Finally, some good news?
http://www.asx.com.au/asxpdf/20110602/pdf/41z01vtwr403d6.pdf
MB
Exerpt from report..Corporate
Entek’s financial position remains robust with:
Cash reserves of $3.85 million and no debt.
Revenue from both HI24L and PN 975 in the Gulf of Mexico, and increasing revenue from its
Green River Basin production; and
Additional revenue from GA A133 to start in 2011.
LInk to 3rd qtr report released 1/31/11
http://www.entekenergy.com.au/assets/Uploads/31-January-2011-Quarterly-Activities-Report.pdf
They are a fully repoting company on the asx.
Hope so. That is my thinking. Them once they get the Gulf Stuff going, use their money wisely, could be very attractive for others to see.
I follow too. I'm interested in Slater Dome and Focus Ranch holdings in CO. Niobrara could be big.
Hello, anyone still following this company?
Why on the Grey market, Pink is bad enough??
yeah, many people wouldn't buy it because of the grey market. On the other hand it is a normal stock trading on Australia market, if it goes up in that market, it will go up in our market too. As long as the company has a bright future, I can wait.
Good luck to you.
Grey market. No bid no ask.
Entek Energy Ltd.
Suite 21
168 Melbourne St.
North Adelaide 5006
Australia
http://www.entekenergy.com.au
Phone: (08) 8239 2666
OTC Market Tier
Grey Market
http://www.otcmarkets.com/stock/ETKEF/company-info
Hello, This little O&G company has huge potential.
I suggest everyone Read the company presentation on their website.
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