Yam Tethys project partners Delek Group Ltd. (TASE: DLEKG) units Delek Drilling LP (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L) commented today to a media announcement that a small natural gas reservoir was discovered near the Yam Tethys reservoir.
"Near the Mari B reservoir, small potential satellite reservoirs have been discovered, which have not been drilled, and which might contain natural gas," a company statement read. "The Yam Tethys partners are currently examining the prospective resources' potential of the satellite reservoirs, and their relationship to the Yam Tethys project. The partners are also examining the technical, operational, and economic feasibility, including funding, of drilling and developing them on schedule, which would enable production to begin in 2012."
"According to the partnership's preliminary assessment, before any decision regarding drilling is made, and before a prospective resources report has been received, it appears that the amount will not significantly impact partnership activity. The partnership has not yet made a decision whether to drill and develop the satellite reservoir. If and when a decision will be made, the partnership will publish an immediate report according to disclosure guidelines regarding exploration activity and the production of oil and gas."
Published by Globes [online], Israel business news - www.globes-online.com - on January 17, 2012
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