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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|Notice re Completion of Production Tests in the Natural Gas Field of Leviathan|
Tel Aviv, June 18, 2012. Delek Group (TASE: DLEKG, OTCQX: DGRLY) ("the Company") subsidiaries, Delek Drilling L.P. and Avner Oil Exploration L.P. (together "the partnerships") published the following immediate report;
Further to the immediate reports dated 3.5.2012 (reference numbers 2012-01-115119 and 2012-01-115122 respectively) with regard to production tests at the "Leviathan 1" well ("Leviathan 1 Well" or "the Well") in the 349/"Rachel" License, and according to information provided to the partnerships by the operator, Noble Energy International Ltd. ("the Operator"), the partnerships are pleased to provide a technical notice regarding the completion of the above-mentioned production tests that were completed successfully, in accordance with the provisions of section 12 (h) of the Disclosure Directives concerning Gas and Oil Exploration and Production
It is noted that the production rate was controlled and constrained by the equipment used to conduct the production tests. It is further noted that the Homer Ferrington rig, which carried out the production tests, is expected to leave the drilling site in the coming days.
Warning with regard to "forward-looking statements" - the aforesaid information and data regarding the results of the production tests conducted in the "Leviathan 1" Well, are based on geological, geophysical and other information, received from the Well and the Operator. At this stage these are non-binding evaluations regarding which there is no certainty, and they are considered to be forward-looking information as defined under the Israel Securities' Law. The partnerships have not conducted independent estimate or evaluation of these said estimates and they express no position regarding their accuracy and they may be updated insofar as additional information is accumulated and/or as a result of a gamut of factors related to projects of oil and natural gas, exploration and production, including the continued analysis of the findings of the production tests.
The partners in the rights to the "Leviathan 1" Well and their holding rate therein are as follows:
This is a convenience translation of the recent HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Partnerships on June 18, 2012.
About The Delek Group
The Delek Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean's Levant Basin into one of the energy industry's most promising emerging regions. Having discovered Tamar and Leviathan, two of the world's largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets with total gross natural gas resources discovered since 2009 of approximately 33 TCF.
In 2011, the Company's revenues were NIS 59 billion. Delek Group's shares are traded on the Tel Aviv Stock Exchange (TASE: DKLG) as part of the TA25 Index.