HOUSTON, Oct. 29, 2014 /PRNewswire/ -- EnergyTEK Corp. (OTC:ENTK) announced today that its wholly owned subsidiary, Texas Gulf Exploration & Production, Inc. (TGEP) recently won new servicing work on the Brawley lease in Lockhart, Texas. TGEP successfully reentered and commenced oil production on wells that had previously been out of service for some extended period of time. Damon Wagley, President of TGEP, commented "With oil prices dropping of late, it is even more critical to our customers to keep their oilfields producing, and we do the work at very competitive rates. The safe production of oil and gas for our customers is our first priority. With our flat management structure and low overhead, we are seeing more opportunities for service work and oil lease acquisitions every day, and our crews are quite busy going forward."
About EnergyTEK Corp.
EnergyTEK Corp. targets unique, promising technologies we believe can improve business growth and profitability, with a particular interest on energy markets.
We apply those technologies by incubating promising companies with innovative business plans that can utilize these technologies to drive business growth and bottom line performance.
We also support our companies in obtaining necessary working capital financing to support their growth, and in select cases, we will make direct loans and/or equity investments in our own subsidiary companies as well as consider joint venture investments in unique technologies. In the future, we intend to monetize our investments in these companies either by outright sale, or spin off the subsidiary's shares into the public markets.
Precautionary and Forward-Looking Statements
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SOURCE EnergyTEK Corp.