Ithaca Energy Inc. - Assessment of Possibilities to Acquire Petroleum Assets in the North Sea

July 17, 2018 at 2:00 PM CEST

Tel Aviv, July 17, 2018. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that further to what was stated in section 1.8.26(b) of the Company's Periodic Report to December 31, 2017 that was published on March 28, 2018 (ref. no. 2018-01-031177), and the Company's Immediate Report concerning approval of the acquisition plan dated June 25, 2016 (ref. no. 2018-01-055883), that as of this date a subsidiary of the Company, Ithaca Energy Inc., continues to actively pursue its strategy to focus on creating long-term value in the North Sea. As part of that it is in negotiations with its partners in the fields and other rights holders in the North Sea in order to increase its holdings in the petroleum assets and facilities in its existing core areas, to diversify its portfolio of productive assets in its area of operations, and to increase its production potential.
It should be noted that as of this date this is an assessment only and transactions are subject to completion of checks to the satisfaction of Ithaca Energy Inc. and the signing of binding agreements. There can be no certainty that these transactions will take place nor in what manner.

This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on July 17, 2018.

About The Delek Group

Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med. With major finds in the Levant Basin, including the Leviathan (21.4 TCF) and Tamar (11.2 TCF) reservoirs and others, Delek is leading the region’s development into a major natural gas export hub. In addition, Delek has embarked on an international expansion with a focus on high-potential opportunities in the North Sea and North America. Delek Group is one of Israel’s largest and most prominent companies with a consistent track record of growth. Its shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index.

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Yonah Weisz
Head of Investor Relations
Delek Group Ltd.
Tel: +972 9 863 8443