Tamar 2 gas drilling underway

The drilling will continue for three months, and will cost an estimated $77 million.

Gas exploration is underway at the Tamar 2 prospect. The partners in the natural gas drillings Tamar and Dalit Delek Drilling and Delek Energy of the Delek Group (TASE: DLEKG), Isramco (Nasdaq: ISRL; TASE: ISRA.L), and Avner Oil and Gas (TASE: AVNR.L) announced to the Tel Aviv Stock Exchange this morning that Noble Energy, their US partner, had informed them that the rig that finished drilling the Dalit well had reached the Tamar prospect and begun drilling there.

The drilling will continue for three months, the announcement said, and will cost an estimated $77 million.

The partnership also released an updated estimate of the cost of drilling Dalit 1, which was slightly lower than initial estimates: $57 million, versus $59.2 million estimated previously.

Electronic broker etrader is launching options on Isramco shares, with expiry periods of two months, two weeks, and two days.

Published by Globes [online], Israel business news - www.globes.co.il - on April 27, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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