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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Timetable for Natural Gas Flow from Pinnacles 1 has Been Brought Forward

Tel Aviv, Sunday, 3 June 2012. Following on from the immdeiate report dated April 16, 2012, with regard to the approval of the development plan of Pinnacles #1, Delek Group gas subsidiaries are pleased to announce that according to the informaiton provided by the operator Noble Energy Mediterrenean, the time table for completion of Pinncales #1 has been updated and the start of flow of natural gas from Pinnacles #1 has been brought forward to June 2012. A full reservoir update report is expected to be released after the development well is complete.

For more information please see the immediate reports as published on TASE.

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