The suspension in trading in partnership units in the energy explorer Givot Olam Oil Exploration LP (TASE:GIVO.L) could continue until after the Sukkot holiday, at the start of October, a market source close to the affair has told "Globes."
Trading in Givot's shares was halted yesterday by the Tel Aviv Stock Exchange and the Israel Securities Authority until clear and full data from the complete engineering report is published about the findings at the Meged 5 well.
A market source told "Globes," "The market and sources dealing with securities must prepare themselves for the possibility that the suspension of trading in the shares will be for a long period, possibly even until after the Sukkot holiday. In the end, it is clear that stopping trade does not harm the oil field nor the interpretation and publishing the findings."
The market source told "Globes," "It is not clear when the report will be published and whether it will be to the satisfaction of the Israel Securities Authority."
Published by Globes, Israel business news - www.globes-online.com - on September 20, 2010
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