Hatrurim License

On August 13th, 2014 the Company submitted an application for Hatrurim land license, located near the Dead Sea, Israel.

Asset Hatrurim

 Validity

October 26th, 2018
 

 Partners

5% - Cyprus Opportunity Oil & Gas Exploration, Ltd


25% - Israel Opportunity Energy Resources, LP

Petrotex - 28.75%

Ashtrom Group Ltd - 10%

Ginko Oil Exploration, LP- 28.75%

Eliyahu Rozenberg, Phd- 2.5%


 Location

Located in the Judean Desert, in the northeast Negev region, near the Dead Sea
 

 Prospects

The last ever onshore drilling operation by the Delek Group before discovering large quantities of offshore gas. To the best of the partnership’s knowledge, Delek decided not to proceed with the oil production due to low oil prices that time, which made it not economically viable.

To date, the partners’ intension is to re-enter the “Chalamish” drilling. The planned drilling program is based on the seismic survey results received from past drillings, and will be carried out using advanced technologies The project geologist and partner is Eli Rosenberg (PhD), the founder of Avner (Delek).

A resources report by Dunmore Consulting from May 2016, estimates about 7 million barrels of oil (Best Estimate) and up to 11 million barrels (High Estimate).

Major Milestones

Spud date by October 1st, 2018.