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Entek Energy Announces High Bidder for MP252
Tuesday March 25, 2008, 9:58 am

Original Announcement: ETE High Bidder for MP252

Entek Energy announced that the company's wholly owned subsidiary Entek USA General LLC registered apparent high bid at the Central Gulf of Mexico Planning Area Sale 206, on Block No. 252 (OCS G32258) in the Main Pass Area, South and East Addition. OCS G32258 comprises 4,994 acres. Water depth is approx 253ft. The bid price was US$558,088. Other costs incurred were US$125,000. The Minerals Management Service in the US will now conduct its bid evaluation process and grant of the lease is at the discretion of the Minerals Management Service. Phase 1 & 2 of the Bid Evaluation can take from 21 to 90 days from the sale date of 19 March 2008.

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