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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Judgment on the Petition to the High Court on the Development of Tamar South West

Tel Aviv, Tuesday, December 3, 2014. Delek Group's gas subsidiaries announced that as part of the hearing held on December 1, 2014, an agreement was reached between the parties (the Tamar partners on the one hand and Petroleum Commissioner of Energy and Water Resources ("Commissioner") on the other hand) to continue with the negotiations between the parties on matters related to the rights of the State versus the rights of the Tamar partners in Tamar South West (";Tamar SW"). In addition, it was agreed by the parties that the Tamar partners will submit within 30 days to the Minister of National Infrastructures, Energy and Water, an appeal on the Commissioner's decision dated June 4, 2014, with regard to the Commissioner's non-approval to develop Tamar SW by connecting it to existing facilities in the Tamar project. In view of the aforementioned agreements, the petition was deleted, while preserving the rights of the parties as needed.

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

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