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Cyprus and Israel's Delek Drilling (DK, DKDRF.OB) are in talks about developing a $10B liquefied...

Cyprus and Israel's Delek Drilling (DK, DKDRF.OB) are in talks about developing a $10B liquefied natural gas terminal on the island to tap the east Mediterranean's vast gas discoveries and serve buyers in Europe and Asia. A delegation from Delek, which is developing Israel's giant Leviathan and Tamar gas fields with Noble Energy (NBL), recently visited Cyprus to discuss the project.
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Comments (2)
  • jbooks
    , contributor
    Comments (9) | Send Message
     
    Readers should be fully aware that DK (Delek U.S.A) gives no exposure to Israel's burgeoning oil and gas industry. DK is only the American subsidiary of Delek Holdings, a large Israeli conglomerate that trades only on the Tel-Aviv stock exchange. For those wanting exposure to Delek holdings should purchase its' ADRs that trade on the OTC pink sheets under the symbol DGRLY. One share of the ADR=.10 shares of (DLKF), the parent company that trades at around $270.00 per share in NIS on the T-A exchange. So purchase of 100 ADR, you have a 10 share interest in the parent company that includes all of Delek's Holdings
    international holdings, INCLUDING DKDRF.OB cited above.
    If you buy the ADR (DGRLY) use limit orders since it is very thinly traded and has had a yearly range of around 12 to 29. It was up $1.40 yesterday to $29 and change on volume of only 450 shares.
    Please post here if you have any questions about this, or check me on any errors I may have in my interpretation of the Delek Holdings situation.

     

    Link to Bloomberg article on Delek Holdings published yesterday:
    http://bloom.bg/11KmiDg
    19 Jun 2013, 12:25 PM Reply Like
  • WhitneyB
    , contributor
    Comments (292) | Send Message
     
    That's correct; DK is a small U.S. refiner/retailer subsidiary and has nothing to do with the parent's (or other subsidiaries') Israeli E&P ops. Linking the market current to the DK symbol is misleading at best, just like the Zion story yesterday.
    19 Jun 2013, 06:53 PM Reply Like
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