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 with regard to the Development Plan of Block 12 in Cyprus

Tel Aviv, Thursday, October 22, 2015. Delek Group's gas subsidiaries announced that the schedule of an additional test drilling well has been postponed from October 23, 2015, until May 23, 2016 which is also the date of the expiry of the validity of this petroleum asset.

As of the date of this report, together with the Government of Cyprus, the Block 12 partners are examining options for amending the Development plan as required under the Production Sharing Contract and conducting discussions with regard to the proposed outline for the development plan of the Aphrodite  Reservoir.

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

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