Ratio reports revised minimum gas estimate at Leviathan

The best estimate remains 16 trillion cubic feet of gas.

The day after the Leviathan partners published estimates of the natural gas reserves in the structure, they published a revised minimum estimate. Netherland, Swell & Associates Inc. raised the minimum estimate of gas to 11.3 trillion cubic feet of gas with a 90% chance of success, from 10.5 trillion cubic feet.

The best estimate of 16 trillion cubic feet of gas with a 50% chance is unchanged from the preliminary estimate announced in December 2010. Yesterday, the partners said that the high-end estimate of contingent natural gas reserves in the structure is 21 trillion cubic feet, with a 10% chance of success, is 25% higher than the preliminary estimate.

The Leviathan partners are waiting for the results of the exploratory oil well.

Noble Energy Inc. (NYSE: NBL) owns 39.66% of Leviathan, Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) each own 22.67% and Ratio Oil Exploration (1992) LP (TASE:RATI.L) owns 15%.

Delek Group's share price rose 0.5% by mid-afternoon to NIS 914.40, Avner's share price fell 1% to NIS 2.44, Delek Drilling's share price fell 1.3% to NIS 13.44, and Ratio's share price rose 0.9% to NIS 0.587.

Published by Globes [online], Israel business news - www.globes-online.com - on March 30, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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