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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Exploration Drilling at Pinnacles #1

Tel Aviv, March 4, 2012. Delek Group subsidiaries announced today that Pinnacles #1 exploration well, situated close to Mari-B is due to start in the coming days and is expected to last for approximately 5 weeks. According to a report prepared by Netherland, Sewell and Associates (NSAI) the estimated unrisked gross prospective gas resources for the Pinnacles Prospect, as of December 31, 2011, is expected to be:

 
Unrisk Gross (100 Percent)
Category
Prospective Gas Resources (BCF)
Low Estimate
25.7
Best Estimate
47.6
High Estimate
78.2

For more information please see the immediate reports as published on TASE. http://maya.tase.co.il/bursa/indeximptoday.htm

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