Thursday 3 October 2019

Delek Group reported that Ithaca Energy, the Company’s North Sea E&P operator, has taken a decision along with the other partners in the Isabella Oil Asset to drill a first trial well in the area. This was based in on the recommendation of the project operator, Total E&P North Sea UK Ltd.

According to the terms of the transactions drawn up by Ithaca concerning the Oil Asset, Ithaca is not responsible for payment for drilling costs but will be entitled to 10% of future revenues from the license, if there will be any.

A comprehensive resource report can be accessed here.

This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on October 2, 2019.