Energtek Granted Commercial License to Produce and Sell Natural Gas in Southern Israel

Energtek Granted Commercial License to Produce and Sell Natural Gas in
Southern Israel
License Granted by Israel's Ministry of National Infrastructures

NEW YORK, March 24 /PRNewswire-FirstCall/ -- Energtek Inc., a world
leader in the development of Adsorbed Natural Gas (ANG) technology, today
announced that its wholly-owned subsidiary, Energtek Products Ltd., was
granted a commercial license for the exploration, production and sale of
natural gas in Israel's Northern Negev region.
Natural Gas Exploration and Production License Number 376, granted by
Israel's Ministry of National Infrastructures, enables Energtek Products to
produce natural gas on exploration block of approximately 19,000 acres. An
existing well on the site already enables the production of small quantities
of natural gas. The license also enables Energtek Products to explore for
additional gas quantities.
Energtek plans to apply its LMP(TM) (Low-pressure Mobile Pipeline) bulk
transportation technology to transport and sell natural gas produced on this
site to local industrial energy consumers. The proprietary LMP(TM) system
enables the cost-effective transport of natural gas in areas without
developed pipeline infrastructure.
Earlier this year a significant natural gas discovery was announced:
Tamar 1, with a proven reserve of over 5 trillion cubic feet (Tcf) of natural
gas located off the coast of Haifa, Israel. While there is enough gas in the
reserve to supply a major percentage of Israel's commercial needs, Israel
currently does not have a developed natural gas pipeline distribution network.
Additionally, there are a number of onshore gas fields in Israel with
small gas production potentials that cannot be realized using traditional
pipeline transport technologies. The development of sufficient pipeline
infrastructure often is not commercially viable due to economic and land-use
concerns. Energtek's innovative gas supply solutions including LMP(TM) enable
the local monetization of these gas resources.
"The granting of this license to Energtek lays the foundation for the
commercial sale of natural gas to industrial consumers that are not connected
to a pipeline grid," said Energtek CEO Lev Zaidenberg. "With the recent Tamar
discovery, we are confident that natural gas will play an increasing role in
supplying Israel's growing energy needs. And since building a pipeline
distribution network is a long and expensive process, we anticipate growing
demand for bulk transportation solutions such as LMP(TM)."
About Energtek
Energtek develops and applies proprietary low-pressure storage technology
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 a
profitable alternative motor fuel solution 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:
Energtek Inc.
11 East 44th St., New York, NY 10017, USA
Tel +1-212-999-6202
Fax +1-212-208-4344
energtekoffice@energtek.com
IR@energtek.com
http://www.Energtek.com

SOURCE Energtek Inc.

Contacts: Energtek Inc. 11 East 44th St., New York, NY 10017, USA, Tel
+1-212-999-6202, Fax +1-212-208-4344, energtekoffice@energtek.com,
IR@energtek.com