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!
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