Gabriella License

(96,371 Acres)

Target: Oil Jurassic Fractured Carbonates
Target: Gas Cretaceous limestone and sands:
  Miocene stratigraphic
Target: Condensate Cretaceous limestone  and sands
  Miocene stratigraphic:
Exploration: 587 Km Dual Azimuth 3D completed Jan 2011 by Adira
Resource Report:  Completed March 2012 by Netherland Sewell
Prior Drilling: Yam Yafo-1 Well was drilled in 90’s to 5,823m and tested 800 bpd oil (44-47 API). Technical and financial challenges prevented commercial production.
Drilling: Shallow water 127 to 220 meters. Jack-Up or Floater
Operator: Adira Energy
Working Interest: 15%, plus 15% back-in option from Modiin Energy upon discovery, at cost, plus royalties and management fees
Partners: Brownstone Energy 15%, Modiin Energy 70%


Technical Highlights  
Best Estimate (P50) Contingent Oil 110.1MMBO
Best Estimate (P50) Prospective Condensate 17.4.MMB
Best Estimate (P50) Prospective Gas 751.1BCF