LETTER OF AGREEMENT

This  LETTER OF  AGREEMENT  ("Letter of  Agreement")  made  effective  as of
November 8, 2006  ("Effective  Date"),  by and among ENERGTEK INC., a Nevada
corporation  (the  "Option  Holder")  and  ANGSTORE  TECHNOLOGIES  LTD.,  an
Israeli company (the "Company").

WHEREAS,  the  Company is engaged in  development  of  Adsorbed  Natural Gas
storage systems; and

WHEREAS, the Option Holder desires to receive an option to acquire up to 45% of
the issued and outstanding share capital the Company on a fully-diluted basis,
subject to the terms and conditions set forth hereinbelow; and

WHEREAS, the Company has agreed to grant an option as aforesaid to the Option
Holder, subject to the terms and conditions set forth hereinbelow.

NOW THEREFORE, in consideration of the premises, mutual covenants and agreements
hereinafter set forth, and other good and valuable consideration, the parties
agree as follows:

1. Option

1.1.  The Company hereby grants the Option Holder an irrevocable option (the
      "Option") to purchase up to 7,364 (seven thousand three hundred and
      sixty-four) Ordinary Shares par value NIS 1 each of the Company,
      representing up to 45% (forty five percent) of the Company's issued and
      outstanding share capital on a fully-diluted basis as of the Effective
      Date (the "Option Shares"), at a purchase price of $36.675 (thirty six US
      dollars and sixty seven and a half cents) per Option Share (the "Per Share
      Price") totaling an aggregate purchase price of up to $270,075 (the
      "Purchase Price").

1.2.   The Option may be exercisable by the Option Holder during the period
       commencing on the Effective Date and ending on June 30th, 2007 (or
       earlier pursuant to Section 3.5 below) (the "Option Term") and if not
       exercised within the Option Term shall thereafter expire and become null
       and void.

1.3.   In the event that during the Option Term and as long as the Option, or
       part thereof, remains outstanding and unexercised the Company shall issue
       Offered Securities (as defined in Section 3.2 below) at a price per share
       (the "New Price Per Share") that is not at least 20% higher than the Per
       Share Price indicated in Section 1.1 above, the Per Share Price shall be
       adjusted such that the Per Share Price shall be equal to 80% of the New
       Price Per Share. Should the Option Holder be entitled during the Option
       Term to such adjustment after all or part of the Option has already been
       exercised, additional Ordinary Shares shall be issued to the Option
       Holder to reflect such adjusted Per Share Price, pro rata in accordance
       with the number of Option Shares actually exercised by the Option Holder.



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2. Exercise of the Option

2.1.   The Option may be exercised by the Option Holder by giving written notice
       to the Company at any time prior to the end of the Option Term ("Exercise
       Notice"), in which Exercise Notice the Option Holder shall specify the
       number of Option Shares being exercised, and delivering to the Company,
       concurrently therewith, a check or a wire transfer in immediately
       available funds for the pro rata portion of the Purchase Price,
       calculated according to the number of Option Shares being purchased upon
       such exercise multiplied by the Per Share Price. Payment of the Purchase
       Price shall be made in US Dollars.

2.2.   As promptly as practicable on or after the date of receipt of an Exercise
       Notice and payment of the respective portion of the Purchase Price, and
       in any event within ten (10) business days thereafter (subject however to
       receipt of OCS approval to the extent required pursuant to Section 7
       below), at the Option Holder's request, the Company, at its expense,
       shall issue and deliver to the Option Holder a certificate or
       certificates for the number of Option Shares issuable upon such exercise
       and notify the Registrar of Companies of such issuance.

2.3.   It is hereby agreed that the Option may be exercised in whole or in part
       at any time during the Option Term, provided, however, that the number of
       Option Shares exercised under any Exercise Notice shall be not less than
       850 (eight hundred and fifty) Option Shares.

2.4.   The grant of the Option imposes no obligation on the Option Holder to
       exercise it.

3. Participation in Additional Investments

3.1.   The Company represents and warrants that as of the date hereof, subject
       to the execution by Radel LLC of the Waiver and Consent attached hereto
       as Schedule A, no other person has any option, right of first offer or
       negotiation, right of first refusal or other right, whether vested or
       contingent, to acquire shares of the Company, including without
       limitation, any portion of the Option Shares.

3.2.   The Company hereby undertakes that during the Option Term it shall not,
       directly or indirectly, issue, sell or exchange or agree to issue, sell
       or exchange, any shares, option, warrant or other right to subscribe for,
       purchase or otherwise acquire any equity securities of the Company, or
       any debt securities convertible into shares of the Company (the "Offered
       Securities"), unless, in each case, the Company shall have complied with
       the following provisions: (i) the Company shall deliver a written notice
       to the Option Holder describing the Offered Securities and the terms and
       conditions of their proposed or intended issue, sale or exchange (the
       "Offer"); and (ii) the Option Holder shall have the right, for a period
       of seven (7) days following the delivery of the Offer, to purchase or
       acquire, at a price and upon the other terms specified therein, all or
       part of the Offered Securities.

3.3.   To accept an Offer, in whole or in part, the Option Holder shall deliver
       a written notice to the Company prior to the end of the seven (7) day
       period of the Offer, setting forth the number of Offered Securities that
       the Option Holder elects to purchase (the "Notice of Acceptance"). In the
       event that a Notice of Acceptance is not given by the Option Holder with
       respect to all or part of the Offered Securities, the Company shall be
       entitled to issue, sell or exchange such Offered Securities as to which a
       Notice of Acceptance has not been given by the Option Holder on such
       terms and conditions as described in the Offer.


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3.4.   The closing of the purchase of shares pursuant to this Section 3 shall
       occur at the principal office of the Company (i) on or before the seventh
       business day following the Notice of Acceptance if the Option Holder
       elects to purchase all such Offered Securities, or (ii) concurrently with
       the closing of the sale of Offered Securities if the Option Holder does
       not purchase all of the Offered Securities, or (iii) at such other time
       as the Option Holder and the Company may mutually determine. At the
       closing, the Company shall deliver to the Option Holder, the certificate
       or certificates representing such shares, free and clear of all liens and
       encumbrances whatsoever, and the Option Holder shall pay to the Company,
       in cash or by delivery of a certified check payable to the order of the
       Company, or by wire transfer of immediately available funds, the amount
       of the purchase price for the shares of Offered Securities purchased by
       the Option Holder pursuant to this Section 3.

3.5.   Without derogating from the provisions of Sections 3.2 - 3.4 above, the
       Company agrees that during the Option Term it shall not sell, assign,
       transfer or convey all or a substantial part of the assets or share
       capital of the Company ("M&A Transaction") unless the Company shall have
       complied with the following provisions: (i) the Company shall deliver a
       written notice to the Option Holder describing the M&A Transaction and
       the terms and conditions of the proposed or intended transaction; and
       (ii) the Option Holder shall have the right, for a period of seven (7)
       days following the delivery of the Offer, to exercise the Option upon the
       terms hereof, following which seven day period the Option hereunder shall
       terminate.

3.6.   The provisions of Sections 3.2 to 3.5 shall terminate upon the earlier of
       (i) the lapse of the Option Term, (ii) the exercise by Option Holder of
       the full amount of the Option Shares, or (iii) termination of this Letter
       of Agreement by mutual written consent of the parties or: Option Holder's
       written notice to the Company that it no longer desires to be entitled to
       the Option, upon which notice the Option shall be rendered null and void.

4. Option Payments

4.1.   In consideration for the grant of the Option and the Company's
       undertakings under Sections 3.2 to 3.5 above, the Option Holder shall pay
       the Company a payment in an amount equal to $50,000 (the "Option
       Payment"). The Option Payment shall take place within 5 business days
       from the signature of this Letter of Agreement.


5. Representations and Warranties of the Company.

       The Company represents and warrants to the Option Holder as follows:

5.1.   This Letter of Agreement has been duly authorized and executed by the
       Company and is a valid and binding obligation of the Company enforceable
       in accordance with its terms.

5.2.   Upon issuance thereof, the Option Shares and the Offered Securities (if
       purchased under Section 3 above) shall be duly authorized, validly
       issued, fully paid, nonassessable, and free of any pre-emptive and any
       other third party rights, and will have all the rights, preferences,
       privileges, and restrictions set forth in the Company's Articles of
       Incorporation and any other restrictions under relevant securities laws
       and regulations.

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5.3.   The Company represents and warrants to the Option Holder that as of the
       Effective Date the issued and outstanding share capital of the Company is
       comprised of 8,999 (eight thousand nine hundred and ninety-nine) Ordinary
       Shares par value NIS 1.00 each and 1 (one) Management Share par value NIS
       1.00, and other than said shares there are no outstanding options,
       warrants or other rights, commitments, obligations or arrangements,
       written or oral, to which the Company is a party or by which it is bound,
       to purchase or otherwise acquire any authorized but unissued shares of
       capital stock of the Company or any security directly or indirectly
       convertible into or exchangeable or exercisable for any capital stock of
       the Company.

5.4.   Subject to the provisions of Section 7 below, the execution and delivery
       of this Letter of Agreement are not, and the issuance of the Option
       Shares upon exercise of the Option in accordance with the terms hereof
       will not be, inconsistent with the Company's Articles of Association, do
       not and will not contravene any law, governmental rule or regulation,
       judgment or order applicable to the Company, and, except for consents
       that have already been obtained by the Company, do not and will not
       conflict with or contravene any provision of, or constitute a default
       under, any indenture, mortgage, contract or other instrument of which the
       Company is a party or by which it is bound or require the consent or
       approval of, the giving of notice to, the registration with or the taking
       of any action in respect of or by, any federal, state or local government
       authority or agency or other person.

6.     Other Provisions

6.1.   The Option Holder shall not be entitled to vote or receive dividends or
       be deemed the holder of the Option Shares or any other securities of the
       Company that may at any time be issuable on the exercise hereof for any
       purpose, until the Option or any portion thereof shall have been
       exercised and the Option Shares shall have been issued, as provided
       herein. In the absence of the exercise of the Option, no provisions of
       this Letter of Agreement, and no enumeration herein of the rights or
       privileges of the Option Holder hereof, shall cause the Option Holder to
       be a shareholder of the Company for any purpose. Nothing in the foregoing
       to the contrary, upon exercise of the Option, or any portion thereof as
       set forth above, the Option Holder shall be entitled to receive all
       rights of a holder of the class of shares constituting the Option Shares
       under the Company's Articles of Association.

6.2.   Following exercise of the Option by the Option Holder with respect to
       2,300 (two thousand three hundred) or more of the Option Shares, the
       Company shall take the following actions and/or amend its Articles of
       Association to give effect to the following (the "Amended Articles"): (i)
       the holder or holders of each 20% of the issued and outstanding share
       capital shall be entitled to appoint 1 (one) director with respect to
       each 20% of the issued and outstanding share capital held by such
       shareholder, (ii) the Management Share par value NIS 1.00 shall be
       converted into one (1) Ordinary Share par value NIS 1.00, and (iii) the
       holder or holders of at least 10% (but not more than 20%) of the issued
       and outstanding shares of the Company shall be entitled during the period
       they hold such a percentage to nominate an observer to the Board of
       Directors of the Company. The Company shall convene a shareholders
       meeting for the approval of the aforesaid actions, and if required, for
       the election of members of the Board of Directors of the Company in
       accordance with the Amended Articles.


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6.3.   Each of the parties hereby agrees to sign any and all documents
       pertaining to the transaction herein and/or as required by any applicable
       law to give effect to the Option hereunder and the transactions and
       actions contemplated herein.

6.4.   Except as required under any applicable law and any securities laws and
       regulations, and except as required for the performance of this Letter of
       Agreement, neither party shall disclose or reveal to any other person any
       information relating to the Company's assets or liabilities, the
       transaction contemplated hereunder, or the negotiations between the
       parties.

6.5.   Notwithstanding Section 6.4, the Company acknowledges that the exercise
       of the Option under this Letter of Agreement will imply publication of
       parts of the financial statementsof the Company to be included within the
       financial statements and reports of the Option Holder. In the event of
       exercise of all or part of the Option, and in order to allow the timely
       delivery of the Company's financial statements to the Option Holder, the
       Company undertakes as follows:

      6.5.1. To issue, within not more than 35 days from the end of each
            calendar quarter, reviewed quarterly financial statements.

      6.5.2. To issue, within not more than 65 days from the end of each
            calendar year, audited financial statements for the said year.

      6.5.3. Additionally, within 45 days of Option Holder's written request,
            the Company shall provide the Option Holder with the Company's
            restated financial statements for years 2003 and 2004, the Company's
            restated reviewed quarterly financial statements for 2005, and any
            forward financial projections.

6.6.   In addition, during the Option Term the Company undertakes as follows
       (the financial statements referred to in this Section 6.6 shall be
       referred to as the "Option Term Financials"):

      6.6.1. To provide to the Option Holder by no later than December 11, 2006
            the audited financial statements of the Company for the year ended
            December 31, 2005

      6.6.2. To provide to the Option Holder by no later than December 31, 2006
            reviewed financial statements of the Company for the period ended
            September 30, 2006.

      6.6.3. To provide to the Option Holder by no later than February 15, 2007
            reviewed financial statements of the Company for the year ended
            December 31, 2006.

      6.6.4. To provide to the Option Holder by no later than March 10, 2007
            audited financial statements of the Company for the year ended
            December 31, 2006.

      6.6.5. To provide to the Option Holder by no later than May 5, 2006
            reviewed financial statements of the Company for the period ended
            March 31, 2006.

6.7.   All of the financial statements specified in Sections 6.5, 6.6 and 6.7
       above shall be prepared in accordance with United States Generally
       Accepted Accounting Principles (US GAAP).


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7.     OCS

    The exercise of the Option contemplated herein shall be subject to and
    conditional upon the Company obtaining the approval of the Office of the
    Chief Scientist of the Israeli Ministry of Trade and Commerce (the "OCS")
    with respect thereto to the extent required under the Israeli Encouragement
    of Industrial Research and Development Law, 5744 - 1984, as amended, and the
    rules and regulations promulgated thereunder (the "R&D Law") and/or the
    grants received by the Company thereunder. If said approval will be
    required, the Company shall utilize its best efforts to obtain said approval
    and for such purpose the Option Holder shall sign any document and/or
    undertaking which may be required by the OCS in connection thereof.

8.     Miscellaneous

8.1.   The provisions of this Letter of Agreement shall be subject to all
       applicable laws, rules and regulations of the State of Israel and to such
       approvals by any governmental agencies or national securities exchanges
       as may be required. Disputes arising hereunder or in connection herewith
       shall be subject to the exclusive jurisdiction of the applicable courts
       in Tel Aviv, Israel.

8.2.   The Option may not be assigned or transferred by the Option Holder in any
       manner without the prior written consent of the Company.

8.3.   All notices and other communications required or permitted hereunder
       shall be in writing and shall be deemed effectively given upon delivery
       to the party to be notified in person, by facsimile (upon confirmation of
       successful transmission) or by courier service or four days after deposit
       by registered or certified mail, postage prepaid, addressed as follows:

       If to the Company:  Em Hamoshavot 94, Petach Tikva, Israel
                           Fax: +972 - 3 - 9222734


      If to Option Holder: 26 E. Hawthorne Avenue
                           Valley Stream, NY 11580
                           c/o Lubin & Associates
                           Fax: +1 (516) 887-8250


8.4.   Any tax consequences applicable to a party hereto arising from the grant
       of the Option or exercise thereof, shall be borne solely by such party.

8.5.   Notwithstanding any other provision herein, in the event of a material
       default by the Company, which material default shall not be cured within
       30 (thirty) days (or such longer period as mutually agreed between the
       parties in writing) of the receipt by the Company of a written notice
       thereof from the Option Holder, the Option Holder shall be entitled to
       terminate this Letter of Agreement by written notice to the Company and
       the Company shall within 60 days of such notice of termination, repay to
       the Option Holder the Option Payment plus annual interest of 5% thereon,
       calculated from the date of payment of the Option Payment until the date
       of repayment. For the purposes of this Section 8.5, the term "material
       default" shall mean the Company's failure to carry out any of the
       following within 90 (ninety) days of Company's receipt of an Exercise
       Notice: (i) receipt of OCS approval under Section 7 herein (provided that
       failure to receive OCS approval is not due to non-provision by the Option
       Holder of an undertaking to the OCS or any other document required by the
       OCS); (ii) issuance of the Option Shares; and (iii) provision of [one or
       more of] the Option Term Financials specified under Section 6.6 above.


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8.6.   This Letter of Agreement constitutes the entire agreement between the
       Company and the Option Holder with respect to the Option granted
       hereunder, and supersedes and replaces all prior agreements,
       understandings and arrangements, oral or written, the parties with
       respect to the subject matter hereof. Any term of this Letter of
       Agreement may be amended and the observance of any term of this Letter of
       Agreement may be waived (either generally or in a particular instance and
       either retroactively or prospectively) with the written consent of the
       Company and the Option Holder.

IN WITNESS WHEREOF the parties have executed this Letter of Agreement made
effective as of the effective Date indicated in the preamble hereto.


_________________________                 ________________________
ANGSTORE TECHNOLOGIES LTD.                ENERGTEK INC.
By:  /s/ Yuri Ginsburg                    By:  /s/ Doron Uziel

Title: _________________                  Title: _________________


                                     * * *


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                                   Schedule A

                               WAIVER AND CONSENT

   In  connection  with the Letter of Agreement  between  ENERGTEK INC. (the
   "Option Holder") and ANGSTORE  TECHNOLOGIES LTD. (the "Company") to which
   this  Waiver  and  Consent is  annexed,  we the  undersigned,  Radel LLC,
   hereby confirm, consent and agree as follows:

      1.    That as of the Effective Date of the above Letter of Agreement, we
            hold and/or are entitled to hold 8,999 (eight thousand nine hundred
            and ninety-nine) Ordinary Shares par value NIS 1.00 each and 1 (one)
            Management Share par value NIS 1.00 of Angstore Technologies Ltd.
            (respectively, the "Company" and "Our Shares"). Our Shares
            constitute all of the shares, options, warrants and securities in
            the Company owned by the undersigned or to which the undersigned has
            any rights.

      2.    We hereby consent to the grant of the Option to the Option Holder
            upon the terms and conditions set forth in the Letter of Agreement
            to which this waiver and consent is annexed.

      3.    During the Option Term we shall not sell, assign, transfer or convey
            all or a substantial part of Our Shares unless and until the
            procedure set forth in Section 3.5 of the Letter of Agreement has
            been fulfilled.

      4.    We hereby agree to vote in favor of the amendment of the Articles of
            Association of the Company as set forth in Section 6.2 of the above
            Letter of Agreement and to take any and all action necessary and/or
            sign any and all document in connection with said Section 6.2.

      5.    Furthermore, we hereby irrevocably and unconditionally waive any and
            all pre-emptive rights we have or may have with respect to the
            Option granted under the above Letter of Agreement and any right,
            title, interest in and to any additional shares or other securities
            of the Company to the extent such rights exist (including any rights
            arising in connection with the consummation of the transaction
            contemplated under the Letter of Agreement), all whether pursuant to
            an option agreement, warrant agreement, anti-dilution right,
            preemptive right or the like, and hereby waive any other right to
            receive shares or other securities of the Company (to the extent
            such rights exist) based on any right granted prior to the date
            hereof. Our waiver as aforesaid includes and applies to, without
            limitation, any issuance of Option Shares upon exercise of the
            Option.

All capitalized terms herein shall have the meaning ascribed to them in the
abovementioned Letter of Agreement, unless otherwise defined herein.


____________________________
Radel LLC
By: Eugene Levich
Title: Director
Date: November 8, 2006


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