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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Tamar Signed Agreement with Dorad Energy Ltd for the Sale of Natural Gas

Tel Aviv, October 15, 2012. On October 15, 2012, Take-or-Pay agreement for the supply of natural gas over either 16 years or up until the contracted quantity has been utilized (with an option to extend for an additional year) was signed by the Tamar Partners with Dorad Energy Ltd. to supply up to a total approximate quantity of 11.2BCM (with an option to increase to up to 13.2BCM for estimated cumulative revenues of US $ 3.5 billion. In the agreement the gas price will be linked to electricity production rates as determined time to time by the Public Utility and Electricity Authority and includes a ''floor rate''. Supply of gas is expected once the Tamar reservoir begins to produce gas. The agreement is subject to a number of closing conditions.


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