Canada's Senvest buys stake in Israel Opportunity gas exploration co

Senvest Capital bought 5.62% of the Israeli gas exploration limited partnership for NIS 10 million.

Canadian holding company Senvest Capital Inc. (TSX: SEC) has become a party at interest in gas exploration company Israel Opportunity Energy Resources LP (TASE: ISOP.L). Senvest acquired 5.62% of Israel Opportunity through its New York unit, Senvest International LLC, which bought 42 million participation units for NIS 10 million.

Senvest Capital manages $520 million in investments, partly through hedge funds Senvest Partners and Senvest Capital Israel, which is a long/short fund that specializes in investments in Israeli companies. It has $100 million in investments in Israeli companies.

Israel Opportunity owns 10% of five of the six deep water offshore Pelagic licenses, located between Leviathan and Cyprus's Block 12, owned by Delek Group Ltd. (TASE: DLEKG) and Noble Energy Inc. (NYSE: NBL).

Israel Opportunity's share price rose 0.8% by early afternoon to NIS 0.24, giving a market cap of NIS 178 million.

Published by Globes [online], Israel business news - - on April 24, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018