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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|Update on Rachel/349, Amit/350, Hannah/351 and David/352 licenses|
Tel Aviv, August 20, 2013. Delek Group's gas subsidiaries announced today that the expiration date of Rachel/349 and Amit/350 licenses were extended until December 14, 2013, subject to a work plan and compliance with the conditions including inter alia: processing of 3D depth seismic data and submission of the data and the report according to the commissions guidelines prior to September 1, 2013; submission of field data and gravimetric survey reports and genetics prior to September 1,2013; processing of 3D seismic date in the dimension of time and submission of the date according to the commissioner guidelines prior to November 1, 2013; submission of the updated field development conceptual plan of “Leviathan”, which will include geological and geophysical description field, various scenarios for the development of the field, including export and delivery options to the domestic market, economic calculation of estimated costs and cash flows, prior to November 1, 2013.
In addition, the expiration date of Hannah/351 license was extended to June 1, 2013, subject to a work plan and compliance with the conditions including inter alia: the processing of the depth 3D seismic data in the dimension of depth, and submission of the data and the report according to the commissioner guidelines until September 1, 2013; submission of field data and gravimetric survey reports and genetics until September 1,2013; processing of 3D seismic date in the dimension of time and submission of the date according to the commissioner guidelines until November 1, 2013; submission of updated field development conceptual plan of “Dolphin” and economic calculation that proves commercial discovery which will include estimated costs and cash flows, until November 1, 2014, as well as submission of summary reports decoding the seismic gravimetric and magnetic surveys until April 1, 2014.
The Oil affairs Commissionaire advised that license David/352 has expired.
It should be noted that as of the date of this immediate report, Commissionaire’s decision with regard to Eran/353 license has not been received yet.
For more information please see the immediate reports as published on TASE. http://maya.tase.co.il/bursa/indeximptoday.htm