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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License 360/Ruth C

Tel Aviv, Thursday, March 26, 2015. Delek Group's gas subsidiaries announced that on March 25, 2015, Noble Energy Mediterranean Ltd., the operator in Ruth C/360 license, announced to the Partnerships with regard to its retirement of the Ruth C license and Joint Operating Agreement which is applicable to them. They announced that this was in part due to the current regulatory uncertainty in Israel and taking into account the risks involved in the exploration license.

The gas partnerships approached the Petroleum Commissioner in Minister of National Infrastructures, Energy and Water recourses requesting the extension of the timetable specified in the work plan that requires a license for the period during which an alternative operator will be found.

 

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

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