Adira Asks for Samuel License Spud Date Delay (Israel)

Israeli oil and gas company Adira Energy Ltd. on Friday informed that it had, on March 27, 2013, applied to the Ministry of Energy and Water of the State of Israel for an extension of the dates for the execution of a drilling contract and for the spud of the first well on the Samuel license, offshore Israel.

The company hopes to move the contract execution and spud dates from 2013 to 2014.

Related: Israel: Adira Energy in Multiple Farm-Out Agreements

Adira Energy, focused ion the Eastern Mediterranean region,owns three petroleum exploration licenses offshore Israel; the Gabriella, Yitzhak and Samuel Licenses. These licenses are located respectively 10 km offshore between Netanya and Ashdod, 17 km offshore between Hadera and Netanya and adjacent to the coast between Ashkelon and Bat-Yam. The Company also has an option on the Yam Hadera License, offshore Israel, which is located 30 kilometers offshore Israel, between Hadera and Haifa and North West of Adira’s Yitzhak license