Energtek Recruits Staff to Foster Oil & Gas Exploration at the Nir-Am Block in Southern Israel
NEW YORK, February 1, 2011 /PRNewswire-FirstCall/ -- Energtek Inc., a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, announced today 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."
About Energtek
Energtek develops and applies innovative low-pressure mobile transportation solutions for industrial consumers and fleets of small vehicles. The company is also involved on oil and gas exploration in Israel. 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 [email protected] +1-212-999-6202
SOURCE Energtek Inc.
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