VALLEY STREAM, N.Y., March 19 /PRNewswire-FirstCall/ -- Energtek Inc. (OTC Bulletin Board: EGTK), world leader in the development of Adsorbed Natural Gas (ANG) technology, and Confidence Petroleum India Limited (BSE: 526829 CONFIPET; SEST: CDPT), one of Asia's largest cylinder manufacturers and marketers, have agreed to form a Joint Venture that will commercialize affordable and environmentally-friendly pipeless Natural Gas supply solutions for large automotive fleets and industrial consumers throughout Southeast Asia.

The joint venture, which was announced yesterday at crowded Press and Analyst Conferences in Mumbai, aims to introduce commercial Natural Gas mobile supply solutions using Energtek's proprietary ANG technology in India, Pakistan, Bangladesh, Sri Lanka, and other countries in the region. Confidence Petroleum will utilize its leading industry position as a marketer of commercial alternative energy resources, to penetrate ANG technology into key markets throughout India and Southeast Asia.

Confidence Petroleum will invest $2 million and acquire co-ownership of Energtek's subsidiary Primecyl LLC., which is currently developing pressure cylinder manufacturing plants in Europe. The Joint Venture will incorporate production facilities in Europe to serve the European and Asian pressure cylinder markets. A fully-owned Primecyl subsidiary, Confi Energtek Asia, will be established to conduct business operations in India and throughout Asia.

"Our Joint Venture with Energtek will enable us to become a leading international player in the supply of Natural Gas products, and clean energy solutions," said Confidence Petroleum Chief Managing Director Nitin Khara. "We are witnessing over 50 percent growth in the Asian Natural Gas Vehicle market since 2000, with much of that growth here in India. The introduction of ANG technology through our fertile marketing channels will enable even more drivers and industrial consumers to benefit from affordable, clean fuel. The agreement also furthers our already strong position as Asia's leading manufacturer of pressure cylinders."

"This agreement allows Energtek and Confidence Petroleum to combine the technology, manufacturing, and marketing resources needed to provide a Natural Gas supply solution that is financially beneficial to energy consumers across Asia," said Lev Zaidenberg, CEO of Energtek Inc. "Together, we can increase the commercial use Energtek's breakthrough ANG technology to help Asian residents drastically reduce the harmful pollution emitted by motorcycles, while providing much-needed relief to consumers and low-income drivers suffering from the rising costs of oil and gasoline."

About Energtek

Energtek develops and applies proprietary ANG technology to provide complete well-to-wheel pipeless Natural Gas supply solutions to large automotive and commercial consumers. Efforts are focused on reducing pollution and alleviating consumer energy costs particularly within the large, growing market of low-income 2- and 3-wheel vehicle drivers in Asia. Energtek operates subsidiaries in North America, Europe, Asia and the Middle East.

About ANG

Adsorbed Natural Gas (ANG) technology enables hi-tech and cost-effective storage of Natural Gas, by maximizing the quantities of gas stored in a tank. ANG greatly reduces the infrastructure, fueling, and energy costs of supply solutions to consumers where no pipeline or refueling infrastructure is present. ANG enables new markets of motor vehicle fleets and large commercial consumers, to benefit from environmentally friendly and affordable Natural Gas.

Forward-Looking Statements

This press release contains forward looking statements, including those related to future product plans, which involve known and unknown risks and uncertainties, which together with other factors could cause actual results to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. For a discussion of these and other known risks and uncertainties, individuals should refer to Energtek's SEC filings. Energtek does not undertake an obligation to update forward-looking statements.

To learn more about the benefits of ANG Technology, visit www.energtek.com, or email ir@energtek.com.

SOURCE Energtek Inc.