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The Partnership was founded in February 2010 and is listed on the Tel Aviv Stock Exchange since July 2010. The objective of the Partnership is to participate in oil and/or gas explorations in the geographic areas defined or to be defined in the limited partnership contract as updated from time to time and subject to the approval of the The Petroleum Council in the Ministry of Energy and Water. As of today, the Partnership has engaged in contracts in various oil assets covering an overall area of more than 3000 square km. The assorted oil rights provide an exposure to the potential in Israel's deep waters, whilst dispersing risks. The Partnership is managed by the general partner: Israel Opportunity – Oil and Gas Exploration Ltd.