Sources inform ''Globes'' that the partners in the Tzuk Tamrur 4 oil well north of the Dead Sea - Zerah Oil And Gas Explorations LP (TASE: ZRAH), Delek Drilling LP (TASE: DEDR.L), and Avner Oil and Gas LP (TASE: AVNR.L) - are conducting the final stage of the electric logs, and are due to announce the results by the beginning of next week at the latest.
A knowledgeable source told "Globes" that the results "lean toward the positive". However, it is not clear whether the companies will announce the next step of production tests, or if more interim steps will be announced first. They companies have not yet made an unequivocal decision on whether to move to the next stage.
A Zerah spokesman declined to comment on the report, and spokesmen from Delek Drilling and Avner were unavailable for comment.
Earlier this week, the companies announced preliminary findings at the Tzuk Tamrur 4 well, indicating the presence of oil. However, it is not yet known whether the find is commercial, and only the results of the production tests will verify the quantity of oil in the reservoir.
Avner's share rose 2.2% to NIS 1.61, Delek Drilling's share rose 0.6% to NIS 9.48, and Zerah's share rose 2% to NIS 0.15.
Published by Globes [online], Israel business news - www.globes-online.com - on January 28, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010