Yitzhak License

(31,689 Acres)

Target: Oil Mid Jurassic - Fractured Carbonates
Target: Gas Cretaceous Talme Yafe carbonates and sands
Target: Condensate     Cretaceous Talme Yafe carbonates and sands
Exploration: 129 Km 3D completed Jan 2011 by Adira 
Resource Report:  Completed March 2012 by Netherland Sewell
Prior Drilling: Delta-1 Well drilled (off structure) in 1970’s to 4,423m, TD in Upper Jurassic above where oil encountered in Mid Jurassic (Yam Yaffo1 and Yam 2)
Bathonian (Zohar formation) tested for oil in Yam Yafo-1 (4,890m – 4,995m) and Yam-2 Well (5,315m) interesting & significant structural high
Drilling: Shallow water 93 to 167 meters. Jack-Up or Floater
Operator: Adira Energy
Working Interest: 70% Working interest plus ORRI from AGR and Ellomay up to 4.5%
Partners: Brownstone Energy 15%, Ellomay Capital 10%, AGR 5%


Technical Highlights  
Best Estimate (P50) Prospective Oil 79.1MMBO
Best Estimate (P50) Prospective Condensate 25.6MMB
Best Estimate (P50) Prospective Gas 1.0 TCF