Delek Group Ltd. (TASE: DLEKG) and its gas exploration subsidiaries have followed Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) in criticizing the Sheshinski committee's interim recommendations, but Delek's wording is more harsh.
Delek Group, Delek Energy Systems Ltd. (TASE: DEOL) and its subsidiaries Delek Drilling LP (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L) said in a joint statement, "The recommendations are unacceptable to the company, and it will act in the context of the hearing before the committee, and by other means in the government and the Knesset to change the recommendations, in order to enable the continuation of the financing and development of the Tamar project in accordance with the original plan, and to pursue exploration activity."
Delek Group is cotrolled by Yitzhak Tshuva.
Delek Drilling and Avner are partners with Isramco in the Tamar offshore gas field. The two partnerships are also partners in the Leviathan leases and in the Yam Tethys field offshore from Ashkelon.
By early afternoon, Delek Group's share price fell 1.7% to NIS 901.40, Delek Energy's share price fell 3.9% to NIS 1,221, Delek Drilling was down 3% to NIS 13.3, and Avner was down 3.4% to NIS 2.31.
Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2010
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