|Ithaca Energy Inc. - Reserves Report and Discounted Cash Flow|
Tel Aviv, July 5, 2017. Delek Group (TASE: DLEKG, US ADR: DGRLY) ("the Company") announces that further to its immediate report of May 4, 2017 (Ref. No. 2017-01-045138) regarding the expenses of the offer to purchase the shares of Ithaca Energy Inc. ("Ithaca"), immediate and update reports of May 4, 2017 (Ref. Nos. 2017-01-04565 and 2017-01-045363, respectively) regarding additional revised description of Ithaca's activities, and immediate report of June 6, 2017 (Ref. No. 2017-01-057558) regarding completion of the forced purchase of remaining ordinary shares of Ithaca subsequent to which the Company (through a subsidiary) holds 100% of Ithaca's ordinary shares, the Company hereby submits a reserves report and updated discounted cash flow of Ithaca's oil assets, as set out in this report below.
As set out in the description of Ithaca's activities in the immediate report of May 4, 2017, Ithaca's producing oil and gas assets have been divided into three groups: (1) Stella reservoir (part of the GSA project); (2) the other GSA project reservoirs (also includes oil and gas assets in development); and (3) Ithaca's other producing oil and gas assets (in this report: "the Oil Assets").
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