DELEK GROUP LTD. Tel Aviv, January 3, 2016. Delek Group (TASE: DLEKG, US ADR: DGRLY) ('the Company') announces that attached is an Immediate Report just published by Avner Oil Exploration Limited Partnership and Delek Drilling Limited Partnership ('the Partnerships') concerning negotiations for the sales of the Partnerships' rights in the I/16 Tanin and I/17 Karish leases.
Pursuant to the Partnership's immediate Report dated October 14, 2015 concerning the Partnerships' entering into an agreement with Noble Energy Mediterranean Ltd ( 'Noble') to acquire the right to sell Noble's rights in the 364/Alon A and 366 Alon C Licenses ('the Agreement' and 'the Licenses' respectively), to the Immediate Report dated December 17, 2015, concerning approval of the outline regulation for the natural gas market ('the Gas Outline'), to the amended Immediate Report dated December 27, 2015 concerning the convening of a general meeting, on the agenda of which is entering into the Agreement, and the Immediate Report dated December 27, 2015 concerning receipt of the I/16 Tanin and I/17 Karish leases ('the Leases'), in place of the Licenses, we hereby provide an update that as part of its activities to implement the Gas Outline in accordance with its terms and the terms of the Leases, the managements of the Partnerships are in contact and/or negotiations, at various stages, with various operators and bodies in relation to the sale of the partnerships' rights in the Leases, in return for repayment of the investment in the Licenses plus royalties as part of what is stipulated in the Gas Outline.
Warning concerning forward looking information - the information stated above concerning the said contacts and/or negotiations represents forward looking information in its meaning in the Securities Law, 1968, for which there can be no certainty that it will come about, in whole or in part, in the manner stated or in any other way, and it might come about in a materially different way from what is stated above, and in particular there can be no certainty that the above contacts and/or negotiations will mature into binding sales agreements or that there will be the conditions required in law for the said Agreements to become valid, if they should be signed.
The Partners in the I/16 Tanin and I/17 Karish Leases and their percentage holdings are as follows:
Noble Energy Mediterranean Ltd. | 47.059% |
Avner Oil Exploration - Limited Partnership | 26.4705% |
Delek Drilling Limited Partnership | 26.4705% |
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on January 3, 2016.
About The Delek Group
The Delek Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean's Levant Basin into one of the energy industry's most promising emerging regions. Having discovered Tamar and Leviathan, two of the world's largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets with total gross natural gas resources discovered since 2009 of approximately 40 TCF.
In addition, Delek Group has a number of assets in downstream energy, water desalination, and in the finance sector.
For more information on Delek Group please visit www.delek-group.com
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Delek Group Ltd. issued this content on 2016-01-03 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-03 13:45:03 UTC
Original Document: http://ir.delek-group.com/phoenix.zhtml?c=160695&p=irol-newsArticle&ID=2125529
