short term trading week starting - 24th jun, page-32

Entry for STT list

ETE: Entek Energy

At 2.8c and with $15m cash it is trading at cash backing.

It farmed out 80% of a section of it's Niobrara Oil Shale Project to East Resources who will operate the project.

ETE still have 100% of some acreage and will drill on this once access permission is granted.

ETE will receive royalties from a GOM shallow water asset it sold recently that is now in production. I don't know how much the royalties are, but we should find out with the next quarterly.

Management have been buying - on the way down - ouch.

C'mon Mr Market, it has to worth more than zero!