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Adira Energy has been granted and/or acquired petroleum licenses (or interests therein) offshore Israel:

• Gabriella License covering 97,000 acres 10km offshore Israel between Netanya and Ashdod, with indications of oil, gas and condensate. License issued in July 2009 for initial (3) three years; renewable for an additional (4) four years. Drilling in 2013


• Yitzhak License covering 31,555 acres 9km offshore Israel between Hadera and Netanya, directly to the North of and contiguous to Gabriella License, with indications of oil, gas and condenstate. License issued in October 2009 for initial (3) three years; renewable for an additional (4) four years.


• Samuel License covering 89,205 acres adjacent to the coast offshore Israel between Ashkelon and Rishon LeTziyon, Southeast of and contiguous to Gabriella License, with indications of oil and gas. License issued August 2010 for initial (3) three years; renewable for an additional (4) four years.