Entek Energy Limited is pleased to provide an update on exploration activities.
NEW ACREAGE ACQUISITION VK818
The Company is currently evaluating and reviewing its Gulf of Mexico assets in order to high-grade the portfolio with a focus on prospects that potentially have a more significant impact on shareholder value.
In accordance with this new focus and strategy the Company has secured a 100% working interest in Viosca Knoll Block 818 (VK 818). VK 818 is an important addition to Entek’s Gulf of Mexico acreage and has the potential to become a very significant part of the Company’s portfolio.
There has been one well previously drilled on the block, which encountered at least 3 potential pay zones. Information sourced from announcements when the well was drilled suggests that potential pay zones intersected and cased while drilling to the primary deeper target could represent significant oil and gas reserves.
The shallowest prospect identified on 3D seismic and intersected in the well has potentially up to 5 MMBOE. The deeper pay zones that were cased in the existing well are still being evaluated but could represent significant additional hydrocarbon reserves, most likely oil based on mudlog shows. The Company believes the previous well may have identified a field that was never fully evaluated or developed.
For more information please download the PDF below....
