showing some pre drilling form, page-4

You are right wombat79, since Entek took up the South Marsh leases with GLX earlier in the year Entek (management) has been quite impressive establishing itself as a serious explorer in the Gulf of Mexico developing/improving on connections and rapidly assembling a portfolio of interests in GOM acreage with exciting low risk exploration targets. Although some of the recent sp activity could be due to the current drilling of a GOM gas well (free carried) and immanent Byrock-2 drilling with BPT.

4 October 2006
Company Announcements
Australian Stock Exchange Limited
GULF OF MEXICO UPDATE
The company is pleased to announce that it was a participant as a 5% partner in 3 high bids for State of Texas tracts at the Texas General Land Office (State of Texas) Lease Sale held in Austin Texas on October 3rd 2006, which is expected to be issued in three to five weeks. ETE’s financial outlay for the tracts will be approximately US$ 379,621.00 being 5% of the bids, plus sales tax. A prominent, well established company with experience in the Gulf of Mexico will serve as operator. Each tract consists of 720 acres and is located approximately 10 miles offshore State of Texas in 40 feet of water. The interest was acquired via a Memorandum of Understanding (MOU) executed
between ENTEK and Cities Energy, LLC (CITIES) based in Houston, Texas, USA. Overriding royalties include State Revenue of 20% if a well is drilled in the first 2 years, and other burdens. Additional development and exploratory drilling is expected within the next 12 months.
This activity further demonstrates ETE’s intentions to seek participation in what management considers low risk oil and gas targets in the shallow waters of the Gulf of Mexico (“GOM”) and follows from the recently announced farmin to GOM properties Vioska Knoll 79,Vermillion 317 and High Island 307 (refer to ASX announcement of 25th September 2006). The company is rapidly assembling a portfolio of interests in GOM acreage with exciting low risk exploration targets for drilling in 2006 and 2007.

Current Drilling
As previously announced (refer to ASX announcement of 19th July 2006) Entek USA Limited LLC, a wholly owned subsidiary of Entek Energy Limited, has been
participating in the drilling of a well in the Gulf of Mexico and this well has now been drilled to a target depth . The participants agreed to deepen the well by a further 200 feet. The well is currently being evaluated for completion. Entek has not been advised of any gas flow rates from the current operations. Entek USA Limited LLC has a 5% working interest in the well.
Paul Garner
Director

http://www.entekenergy.com.au/documents/ETE_GulfOfMexicoUpdate_4-10-06.pdf