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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Extension of the Tender for Acquisition of Rights of E&P of Oil and / or Gas in Cyprus

Tel Aviv, November 15, 2012. Further to the filing of a bid by the partnerships in a consortium in the scope of the published tender by the Cypriot government to acquire exploration rights and production of oil and / or natural gas rights in the territorial waters of Cyprus (the "Offer"), the Delek Group Gas Partnerships announced that as of the date of this report, the consortium members were not invited to participate in negotiations on the Offer which was submitted. However, the consortium received a letter from the Minister of Trade Industry and Tourism of Cyprus (the minister responsible for energy issues in Cyprus), according to which the validity of the Offer was extended until May 26, 2013 ("Extension Request"). The partners of the consortium intend to accept the extension request.
Members of the consortium and their holdings stake are: Woodside Energy Holdings Pty Ltd. (30%), Edison International S.p.A. (30%), Enel Trade S.p.A. (15%), Delek Drilling, LP (12.5%) and Avner Oil & Exploration, LP (12.5%).

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

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