leviathan gas drill.
(photo credit: (Albatross))
Adira Energy Corporation has completed 3-D seismic surveys of its offshore
Gabriella and Yitzhak licenses that will help define anticipated oil targets,
the company said Monday. It expects to receive the results of the data
processing of the survey in the third quarter, at which point it will decide
whether it is worthwhile drilling at the licenses.
Adira is preparing to
carry out a 3-D seismic survey, using Ocean Bottom Deployed Cables (OBC)
technology, of its offshore Samuel license.
Adira also said its drilling
team at the Eitan gas license in the Hula Valley has reworked three existing
wells, all of which have a gas presence, and pumps have been ordered for
installation. A test well was drilled to delineate shallow sands, and the rig
has now been moved onto a coalbed methane well that is being drilled to test gas
content in the coals between 400 and 800 meters, Adira said.
experienced in testing developing unconventional gas fields are on-site, and a
field laboratory has been mobilized for intensive testing.
is a Canadian company traded in Toronto, New York and Frankfurt, it is engaged
is gas and oil exploration in Israel. It sold 70 percent of the Gabriella
license to Modiin Energy LP, which is controlled by Tzachi Sultan and Nochi
Adira has stakes in four licenses – Gabriella, Yitzhak, Samuel
and Eitan – that have a total area of 350,000 dunams. The Eitan license is in
the Hula Valley, and the other three licenses are in shallow water: Gabriella,
located 10 kilometers offshore between Ashdod and Netanya; Yitzhak, 17 km.
offshore between Hadera and Netanya; and Samuel, adjacent to the coast between
Ashkelon and Bat Yam.
Adira’s Israeli shareholders include Eli Barkat’s
BRM Capital, Lapidoth Israel Oil Prospectors Corporation Ltd.
investment bankers Halman and Aldubi. Foreign investors include Quantum Partners
LP, managed by Soros Fund Management LLC, which invested $6.5 million in the
company in February.