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 |
