re: Ann: Entek sells GoM asset and completes ... Some useful information.
http://www.entekenergy.com.au/assets/Uploads/ETE7Apr11.pdf
Seems like Euroz had a nominal $19m value for Entek's GOM project just sold based upon report within the link above.
Taking out the current cash position from he valuation - circa $15m, a rough back of envelope has Entek with EV of $50m, based mostly one would assume on 55% interest in GRB.
With 50,000 net acres, that is assuming $1000 p/acre. Again, very rough back of envelope.
Based on those assumptions it looks cheap given success of Quicksilver/Shell.
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