In the Gulf of Mexico, as a result of a strategic approach to building value through focusing on low risk, high reward prospects that fit the Company's development strategy, Entek is a participant with US partners in a significant gas discovery at shallow depth in Texas State Waters.
Over a relatively short time, Entek has taken the above Gulf of Mexico prospect through bidding, drilling and discovery, with the project now in the final stages of preparation for production.
Entek's US manager is stationed in Houston and has the expertise to oversee developments.
Russell Brimage, Entek's Chairman, sees recent developments as a turning point, "With oil and gas prices rising, the new production program is starting up at the right time. The income stream generated will enable Entek to further expand its interests in the Gulf of Mexico."
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