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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Update Following Noble’s Publication on “Aphrodite A-2” Appraisal Well Results

Tel Aviv, Tuesday November 26, 2013. Delek Group gas subsidiaries announced that the partners in South West Tamar exploration well have concluded that strong signs of natural gas were discovered based on logging tests while drilling that were carried out by the Operator, Noble Energy Mediterranean Ltd. It is clarified that appraisal drilling work has not yet taken place and signs of natural gas do not necessarily indicate an existence of a Discovery, as defined in the rules of the PRMS and/or by the Petroleum Law.

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

Following the publication from Noble Energy Ltd., parent company of Noble Energy International Ltd, with regard to the completion of "Aphrodite A-2" appraisal well in the Cyprus Block 12 License, Delek Group's gas subsidiaries advised that an updated reserves report will be published within 60 days. In addition, the partnerships estimate that the costs of the drilling will amount to $96 million instead of $117 million (for 100% Working Interest), and the drilling tests will amount to $48 million instead of $64 million (for 100% WI).
It is further noted that the Ensco 5006 rig has moved to the Tamar South-West drilling site.

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

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