Wednesday, February 11, 2009

Huge Israeli Gas Find Even More Massive Than Expected

Curt Here.....

Just a quick update. It appears that the natural gas find that was discovered in Israel a few weeks is actually 60 percent larger than originally estimated. It was originally predicted to fuel Israel for 15 years, but obviously it will last much longer.

Several companies that were involved in the find have seen their stock soar since the day of the discovery. It sounds like they are going to continue to drill in the area as they search for more.

Is it enough to entice Russia and the rest of the Islamic countries in the Gog/Magog alliance to consider the idea of attacking Israel to capture spoil and to seize plunder as it states in Ezekiel 38 vs 12-13?

Stay Tuned


Huge Israeli Gas Find Even More Massive Than Expected

( A massive natural gas find off the coast of Haifa which was lauded as capable of fueling all of Israel for 15 years is actually more than 60 percent larger than originally estimated, according to the American partner in the drill, Noble Energy Inc.

Israeli companies Isramco Negev 2, Delek Drilling, Avner Oil Exploration, and Dor Gas Exploration had the majority of the stake on the dig – named Tamar-1 – which is estimated at a potential of 5 trillion cubic feet of natural gas. That estimate is up from January, at which time the partners believed the well contained 3 trillion cubic feet of gas.

The team will keep their drilling rig in the area for two more wells they believe may be present as well.

"The implications of this discovery to Israel cannot be overstated," said Noble Energy Chief Executive Officer Charles Davidson, in a statement issued after following the revision of the estimate.

Isramco shares, which have skyrocketed 736 percent since the start of the year, were 7.2 percent higher on Wednesday morning compared with declines of over 2 percent in the broader market.

Delek Drilling is up 6.4 percent as of Wednesday morning, with Avner up 4.8 percent. Conglomerate Delek Group (DELKG.TA), the parent of Delek Drilling and Avner, is up 5.9 percent.

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