"Investor briefings in the eastern states last week generated such strong interest that our only prudent course of action today was to try and satisfy some of that pent-up demand by allowing extra time for the IPO," said Entek executive chairman Joe Mercorella.

"We will now close the IPO, due to close yesterday, on 30 July, list on the ASX on 16 August and participate in our first well seven days later."

Mercorella said the company could have comfortably filled and closed the offer yesterday from interest by South Australian investors alone in the new Adelaide-based float.

The Entek IPO offers up to 17.5 million ordinary shares at $0.20 cents per share to raise up to $3.5 million. Entek is a spinoff from Lion Energy, the former Kalrez Energy.

The company has a 12.5% joint venture interest in six petroleum exploration licences covering 16,850sq.km within the South Australian section of the Cooper Basin and in which Victoria Petroleum is the operator.

Entek's exploration involvement will commence with the spudding of its first oil and gas wildcat well, Hornet, in PEL115.