Entek advised that activity is scheduled to resume next week in the Green River Basin onshore Colorado and Wyoming, following the northern winter. Entek is earning up to 55% in the farm-in to approximately 66,000 acres of leasehold, production and associated facilities with New Frontier Energy, Inc.
The upcoming program is anticipated to result in:
This activity is scheduled to occur from June 2010 through to the end of November 2010.
Entek's CEO Russell Brimage, stated, "We are delighted to be recommencing activities in the Green River Basin. The program will allow Entek to move forward with the exploitation of the exciting Green River Basin, and in particular the Niobrara Formation. Entek sees potential for upwards of 200 wells across this under explored acreage, targeting the Niobrara as the primary objective, with upside potential in each well from up to another 5 productive formations. As drilling results confirm the anticipated outcomes, Entek will look to accelerate the development program, to fully exploit the resource."
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