Even as investors in oil and gas exploration companies exploit every possible stage to protest Prime Minister Benjamin Netanyahu's decision to adopt the Sheshinski committee recommendations, the partners in Tamar have maintained a thunderous silence as they plan their next steps ahead of the cabinet's vote on the recommendations on Sunday.
Yitzhak Tshuva, who has become synonymous with the so-called gas barons, has sent a message to the investors via the markets. Delek Group Ltd. (TASE: DLEKG), which he controls, yesterday bought more shares in subsidiary Delek Energy Systems Ltd. (TASE: DEOL) and its two subsidiaries, Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L), which directly own stakes in the Tamar and Leviathan gas fields. Delek Group paid a total of NIS 14.82 million.
Delek Group bought 434,081 partnership units in Delek Drilling at NIS 13.68 per unit, compared with yesterday's closing price of NIS 13.60, for a total of NIS 5.94 million, raising its stake in the company to 8.25%.
Delek Group bought 2,010,142 partnership units in Avner at NIS 2.40 per unit, compared with yesterday's closing price of NIS 2.41, for a total of NIS 4.82 million, increasing its stake in the company to 14.1%.
Delek Group bought 2,923 shares in Delek Energy at NIS 1,390.46 per share, compared with yesterday's closing price of NIS 1,383, for a total of NIS 4.06 million, increasing its stake in the company to 75.03%.
Yesterday's purchases were the latest in a string of purchases in the past few days by Delek Group in these companies. Most of the previous purchases were in smaller amounts.
Delek Group's share price fell 0.1% in morning trading today to NIS 8590, but Delek Energy's share price rose 0.5% to NIS 1,390, Delek Drilling's share price rose 1.4% to NIS 13.79, and Avner's share price rose 2.1% to NIS 2.46.
Published by Globes [online], Israel business news - www.globes-online.com - on January 20, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011