IO Monthly Update - November 2013
Israel Opportunity Updates
Israel Opportunity releases Q3 financial statement for 2013
On November 17, 2013 the Partnership published the Interim Financial Statement as of September 30, 2013.
Industry Major Events
Substantial signs of natural gas found in the 'Tamar South-West' well
Tamar South-West is located southwest of the Tamar reservoir and southeast of Leviathan reservoir. The Partners announced that
the drilling reached its target strata on a total depth of 5340 meters. The preliminary analysis of the information, collected during the
drilling, indicates that the thickness of target strata is about 104 meters while estimated amount of natural gas has not been
published by the Partners. According to the Partners' announcement, production tests are not expected to be carried out by the
Partners in this drill.
Leviathan oil well drilling postponed
According to Israel's financial daily Globes, the CEO of Noble Energy Charles Davidson confirmed that Leviathan development will
be postponed and that the deepwater rig built to drill to Leviathan's oil-bearing strata will be sent to another site prior to the drilling
Cypriot Block 12 partners publish updated Resources Report on Aphrodite reservoir
The partners of Block 12 announced an updated resources report following the exploratory drilling, Aphrodite A-2. According to the
report, compiled by Netherland, Sewell and Associates, Inc., the amount of condensate in the reservoir is 8.1 million barrels.
The total best estimate of resources fell from 5.2 TCF (trillion cubic feet) to 4.1 TCF while the probabilities of success rose. In layer
A, probability rose from 54% to 70%, in layer C from 79% to 9, in layer D1 from 86% to 90% and 70% (D1U and D1L accordingly)
and in layer D2 from 91% to 95%. The overall low estimate of contingent resources rose by 30%, while the high estimate fell by
25%. The partnerships explained that the narrowing of the range between the low and high estimates was normal as the
exploration program for the well progressed.
"Optimistic trends" in the Israeli economy
Israel economy as not many know: Interesting facts and figures..