NEW YORK, December 8, 2010 /PRNewswire-FirstCall/ -- Energtek Inc., a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, today announced that its subsidiary Energtek Products Ltd. has completed a successful production test of the NirAm Gas1 well, on a block licensed to Energtek for exploration and exploitation of natural gas and oil resources in Southern Israel.
Test results demonstrated the possibility to immediately produce a stable flow of moderate quantities of high quality natural gas. Final analysis of the results and assessment of the gas field's potential are expected within several weeks.
Based on the results of the test, Energtek is moving forward with preparations to begin the first commercial natural gas delivery project from the NirAm field to an industrial energy consumer located near the field. The delivery process will include road tankers and the application of Energtek's innovative low-pressure gas supply technology.
"The results of the NirAm production test will enable us to organize a pipeless natural gas supply project-the first of its kind in Israel," said Energtek CEO Lev Zaidenberg. "We hope to demonstrate the benefits of our mobile supply technology to industrial energy consumers in the region. In addition, we are encouraged by the possibility of monetizing oil resources that may be present in the licensed block."
About Energtek
Energtek develops and applies innovative low-pressure storage technology and expertise to provide complete well-to-wheel pipeless Natural Gas supply solutions to industrial consumers and fleets of small vehicles. Energtek's Natural Gas solutions reduce pollution and alleviate consumer energy costs. Energtek provides competitive bulk transportation solutions to industrial users and alternative motor fuel solutions for 2- and 3-wheel vehicle drivers in Asia. Energtek operates subsidiaries in North America, Europe, Asia and the Middle East. To learn more about Energtek, visit http://www.energtek.com/
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of Energtek and its technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and other matters set in Energtek's filings. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.
Contacts: Investor Relations IR@energtek.com +1-212-999-6202
Energtek Inc.
CONTACT: Contacts: Investor Relations, IR@energtek.com, +1-212-999-6202
