More gas found off Israel's coast

|By:, SA News Editor

Delek Drilling (DKDRF) has found significant signs of a new natural gas deposit at the Tamar Southwest field off Israel's Mediterranean coast.

Earlier estimates have said that the reserve could hold 20B cubic meters of gas.

Delek Drilling's partners in the project are Isramco Negev 2, Avner Oil Exploration (AVOGF) and Dor Gas Exploration. Delek Drilling and Avner are subsidiaries of Delek Group (DGRLY).

The deposit is close to the Tamar field, which is estimated to hold 10T cubic feet of gas.

ETFs: GAZ, UGAZ, BOIL, DGAZ, KOLD, NAGS, GASZ, DCNG