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 Regards to Dolphin Natural Gas Field in the Area of License 351/Hanna

Tel  Aviv, December 31, 2015. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that further to  the filing of an application by the partners in License 351 / Hanna  ("Hanna License”) to the Petroleum Commissioner at the Ministry for  National Infrastructures, Energy and Water ("the Commissioner"), to  recognize the Dolphin natural gas reservoir in the area of the Hanna License  ("Dolphin Reservoir") as a discovery, in the meaning of the term in  the Petroleum Law, 1952, the Partnerships have provided an update that the  Commissioner has contacted the partners in the Hanna License with a request to  provide additional updated material, data and estimates as well as  clarifications concerning the structure of the conceptual development plan for  the Dolphin Reservoir and the planned timetable for implementation, as detailed  in the aforementioned contact by the Commissioner for his decision in respect  of the said application, by March 15, 2016 or within 14 days following  signature of a contract for the export of natural gas from the Leviathan field  to the National Electric Power Company Limited of Jordan, based on the Letter  of Intent signed between its operator, Noble Energy Mediterranean Ltd., and  NEPCO, as detailed in section 7.13.5(B)(3) of the Annual Report  ("NEPCO"), whichever is the earlier.

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

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