Gas Subsidiaries Update

The following updates are based on information released by Delek Group gas subsidiaries, Delek Energy Systems Ltd., Avner Oil & Exploration L.P and Delek Drilling L.P. All financial and business information is given only for the convenience of the reader. The only official financial and business information, is that which is included in the officially published immediate reports and financial reports of Delek Group and its gas subsidiaries, to the Israeli Securities Authority and the Tel Aviv Stock Exchange, in Hebrew. In the event of any conflict between financial and business information given on this site and the Hebrew published immediate reports, the Hebrew published immediate reports shall prevail. More on Delek Group's disclaimer.

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Drilling Restarts at the Leviathan #1 Deeper Prospects

On January 14, 2012, the partners in Leviathan announced that the Homer Ferrington Rig has arrived at “Leviathan 1” drilling site in the Rachel license drilling site, and is expected to begin the drilling work into the deeper targets in the coming days. The drilling continues where it left off in April 2011, for technical and operational reasons as reported in the past. The drill is expected to last for 3 months and the budget is estimated at $45 million (excluding any production tests should they be decided to be taken). NSAI have made an estimate as of December 31, 2011 of the unrisked gross prospective resources, for three prospective reservoirs (Lower Oligocene, Middle Cretaceous and Lower Cretaceous) located in the Leviathan Deep Prospect. For more information please see the immediate reports as published on TASE.

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