Energtek Recruits Staff to Nir-Am Block in Israel

Source: www.gulfoilandgas.com 2/1/2011, Location: Middle East

Energtek Inc., a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, announced that its fully owned Israeli subsidiary Energtek Products Ltd. has significantly strengthened its staff to address the exploration and exploration of potential natural gas and oil reserves identified at the Nir-Am block in Southern Israel.

Energtek Products has an exclusive license to explore and exploit natural gas and oil resources present on the block. Initial surveys estimated significant recoverable quantities of oil and gas may be present in addition to the proven presence of natural gas.

Energtek Products Ltd. has reinforced its team with the addition of geologist Dr. Roman Gershenzon, and geophysicist Zeev Wugman. Each has accumulated over 25 years of experience in the identification and analysis of oil and gas reservoirs. This is an additional important milestone towards realizing the potential of the block.

Gershenzon and Wugman will be working together with the consultants that have been aiding Energtek Products in all aspects related to projects on the licensed block.

"In the last year we have performed significant analysis of the potential opportunities present on the Nir-Am block, and we are encouraged by the possibility of monetizing oil and gas resources that may be present," said Energtek CEO Lev Zaidenberg. "We are confident that the new additions to our team will bring us a step closer towards fruition of the block potential, for the benefit of the Company and its shareholders."


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