Adira Energy is a TSX-V listed oil and gas company focused on exploration opportunities in Israel. It holds working interests in three offshore licenses - Gabriella, Yitzhak and Samuel - and one onshore license in the Hula Valley called Eitan. Gabriella and Yitzhak target oil in fractured Jurassic carbonates at depths around 4,900m and 4,600m respectively. Samuel targets both oil in lower Cretaceous carbonates and gas in shallower plays. 3D seismic has been completed or is underway on all licenses.

1. TSX.V: ADL
A TSX-V Listed Oil and Gas Company
Focused on Onshore and Offshore Israel
Corporate Presentation
July 2011

2. TSX.V: ADL
Forward Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARDING-LOOKING INFORMATION
Except for statements of historical fact relating to Adira Energy Ltd., Adira Energy Israel Ltd., Adira Energy Israel Services Ltd., Adira Oil Technologies Ltd., Adira Geo
Global Ltd. ("Corporations”), certain information contained herein, including statements regarding the volume of well's natural gas reserves constitutes "forward-looking
statements" within the meaning of the United States Private Litigation Reform Act of 1995 or "forward-looking information" within the meaning of the Securities Act
(Ontario) or Forward Looking Statements as defined under the Israel Securities' Law. Forward-looking statements are frequently characterized by words such as
"target,” "plan,” "expect,” "project,” "intend,” “believe,” "anticipate," and other similar words or statements that certain events or conditions "may" or "will" occur. Forward-
looking statements are based on the opinions and estimates of management or advisors at the date the statements are made and are subject to a variety of risks,
uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The factors include
the inherent risks involved in the exploration and development of oil and gas properties, the uncertainties involved in interpreting drilling and seismic results and other
geological data, fluctuating oil and gas prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and
costs of financing needed in the future, the uncertainties inherent to conducting business in Israel, the availability of supplies, unexpected adverse climate conditions,
the reliance on only a few key members of management, and other factors. The Corporation undertakes no obligation to update forward looking statements, if
circumstances or advisor or management estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
DISCLAIMER
The information contained in this presentation is confidential and for internal use only. The contents are not to be reproduced or distributed to investors, the public or
press. The information contained herein, while obtained from sources which we believe are reliable, is not guaranteed as to its accuracy or completeness. The contents
of this documentation is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any securities referred to herein.
Estimates are based on geological, geophysical and other estimates received from third parties and/or advisors and serve, at this time, only as estimates whereby there
is no certainty, as of yet, with regards them. No information contained in this presentation is compliant with NI-Policy 51-101 requirements. The Corporations have not
conducted estimates or independent evaluations of the said estimates. Any estimates are expected to be updated as additional information is accumulated, including as
a result of the continued analysis of the well proceeds, the conduction of production tests and the conduction of validation drilling, should they be conducted, andor as a
results of a variety of factors related to projects searching for, and producing, natural gas.
None of the Corporations or any of the individuals associated thereto have independently confirmed or verified the information contained in this presentation. The
reader should take all reasonable actions to satisfy itself as to the accuracy of the information contained in the document.
2

3. TSX.V: ADL
Adira Energy- Israel Opportunity
Newly Discovered Oil & Gas Basin- Offshore Israel
• First Israeli-based TSX.V listed company with pure & exclusive
exposure to the recent Israeli offshore gas discoveries
• Working interest and operator of three offshore licenses and one
onshore license
• Sufficiently capitalized with funds to complete exploration through
to pre-drilling
• Strong shareholder base with access to additional capital
• Indication of resource potential, both onshore and offshore
• Carefully managed exploration strategy
• 3D geophysics now complete on two licenses; 3D in process for 3rd
license
• Established Tel Aviv office, fully staffed with local infrastructure
• TSX-V listed with Toronto office and executive presence
• World class technical leadership and support team
• Experienced and professional Board of Directors
3

4. TSX.V: ADL
Board of Directors
• Dennis Bennie - Chairman, Independent Director
Co-Founder Adira Energy. Founder and CEO of XDL Capital; Co-founder, Former Chairman and CEO of Delrina Corporation; former
Chairperson of Canada Israel Political Affairs Committee (CJPAC).
• Eli Barkat - Independent Director
Chairman and Co-founder of BRM, a recognized figure in the Israeli business community, with more than 20 years of entrepreneurial,
investment and business management experience.
• Sheldon Inwentash - Independent Director
Chairman and CEO of Brownstone Energy. More than 20 years of experience in the investment industry and a deep understanding of
progressive investment and financial management strategies. A Chartered Accountant, Mr. Inwentash is also the Chairman and CEO of
Pinetree Capital Ltd., a Canadian investment company with a portfolio of investments primarily in the resource and energy sectors.
• Yael Reznik Cramer - Independent Director
VP Business Development of BRM Group, (major shareholder of Adira Energy). Currently sits on the boards of Backweb and Schema. She is a
Certified Public Accountant in Israel and holds a B.A degree in Accounting and Economics from the Hebrew University in Jerusalem and an
MBA from Tel-Aviv University.
• Alan Friedman - Executive Vice President - Corporate Development, Director
Co-Founder Adira Energy. Senior roles in resource public market sector and emerging markets covering acquisitions, disposals, financings and
investor communications. Over the past 10 years, has managed or facilitated numerous successful going public transactions (IPO & RTO) on
TSX and TSX-V as well as facilitation of financings in excess of $100m. Various roles in TSX companies including Afriore Ltd., Talon Metals
Corp. and Auryx Gold Corp.
• Colin Kinley – Senior Advisor, Director
Colin has 30 years of international resource exploration and development expertise. Founding member of Layne Energy and for 27 years
Senior VP of Layne Christensen Company (NASDAQ). Key contributor to Layne’s significant growth from $4 to $58/share. Kinley has spent his
career in integrated energy project execution and has a keen sense of resource economics. Most recently, as CEO of Saber Energy,
established over 40TCF Gas in Place in Botswana. Responsible for the establishment of multiple frontier resource exploration plays and
developments.
4

5. TSX.V: ADL
Management & Advisors
• Hezi Kugler- CEO
Hezi has extensive experience in the energy infrastructure field in general and in Israel’s hydrocarbons market in particular. Prior to his position as Director General
of Israel’s Ministry of National Infrastructures from 2006 – 2009, he was a leading project finance lawyer on major projects in the energy and water sectors in
Israel. During his tenure as Director General, he was responsible for overseeing Israel’s power sector and oil and gas exploration and development on behalf of the
government. Mr. Kugler led Israel’s negotiations with BG on development of the Gaza Marine natural gas reservoir off shore from Israel / the Palestinian Authority;
he initiated Israel’s first LNG project and served as co-chairman of the government tender committee; he supervised closely development of Israel’s natural gas
transmission system; and was responsible for development of Israel’s oil and LPG imports networks carried out through government-owned companies under his
supervision. He holds a BA in Political Science from Bar-Ilan University and an LLB from Tel-Aviv University.
• Gadi Levin- Chief Financial Officer
Gadi is a chartered accountant with many years of experience in the public and private equity markets. His experience spans multiple jurisdictions including South
Africa, England and Israel. He has a Bachelor of Commerce degree in Accounting and Information Systems, has received his Chartered Accountant designation in
South Africa and has an MBA from Bar Ilan University in Israel.
• Alan Friedman - Executive Vice President - Corporate Development, Director
Co-Founder Adira Energy. Senior roles in resource public market sector and emerging markets covering acquisitions, disposals, financings and investor
communications. Over the past 10 years, has managed or facilitated numerous successful going public transactions (IPO & RTO) on TSX and TSX-V as well as
facilitation of financings in excess of $100m. Various roles in TSX companies including Afriore Ltd., Talon Metals Corp. and Auryx Gold Corp.
• Glen Perry - Vice President Exploration
Glen has 40 years of exploration and development experience, specialized in drilling operations and project execution. Masters in Petroleum Engineering. Served as
a Director, COO and President of Zion Oil and Gas in Israel. Prior experience includes; Consultant to Delek Drilling; Director of National Petroleum; Executive with
Prairie Producing Company, Exxon and Energy Reserves Group.
• Moshe Politi - Chief Geologist
Moshe has 39 years of experience, specializing in the integration of multi-disciplinary aspects and methodologies of geology and geophysics into viable prospects in
various environments: onshore, offshore, shallow and deep prospects, structurally complex (overthrust) and stratigraphic plays. Moshe received his Bachelor and
Master Degrees in Geology from The Hebrew University in Jerusalem and is currently engaged in his PhD studies in Jerusalem.
• Colin Kinley – Senior Advisor, Director
Colin Has 30 years of international resource exploration and development expertise. Founding member of Layne Energy and for 27 years Senior VP of Layne
Christensen Company (NASDAQ). Key contributor to Layne’s significant growth from $4 to $58/share. Kinley has spent his career in integrated energy project
execution and has a keen sense of resource economics. Most recently, as CEO of Saber Energy, established over 40 TCF Gas in Place in Botswana. Responsible
for the establishment of multiple frontier resource exploration plays and developments.
5

6. Israel Petroleum Licenses TSX.V: ADL
6

7. TSX.V: ADL
Key Discoveries & Prospects, Israel
Initial reserves 35BCM (1.2Tcf, 213mmboe)
Timeline Operational since 2004, expected depletion in 2013
MARI- B Annual Production Capacity 3-4BCM
Participants Delek Drilling (25.5%), Avner (23%), Delek Group (4.4%), Noble Energy (47.1%)
Operator Noble Energy
Resource 8.7 Tcf (1.45boe)
Discovery Date Feb-09
Expected start-up 2013
TAMAR Expected peak gas production (Phase 1) 1,000-1200MMcf/day
Total Depth 5,000m
Participants Delek Drilling (15.5%), Avner (15.6%), Noble Energy (36%), Isramco (28.8%), Dor Gas (4%)
Operator Nobel Energy
Resource 16Tcf (2.9boe)
Discovery Date Dec-10
LEVIATHAN- Gas Total Depth 17% (estimated)
Participants Delek Drilling (22.7%), Avner (22.7%), Noble Energy (39.7%), Ratio (15%)
Operator Noble Energy
Resource 1 3bn Barrels (expected)
Depth 5,800m
Probability 17% (Estimated)
*LEVIATHAN-Oil Resource 2 1.2bn Barrels (expected)
Total Depth 7,200m
Probability 8% (estimated)
Resource 1 Gas 6.5 TCF
Depth 3,700m
Probability Mean value, NSAI report
*SARA & MYRA Resource 2 Oil 150 MMBL
Total Depth 5,500m
Probability Mean value, NSAI report
Resource 1 Oil: Bravo 127 MMBBL; Yam 142 MMBBL
Depth 5,700m
Probability Mean value, NSAI report
*SHEMEN Resource 2 Gas: Bravo 127 BCF, Yam 142 BCF
Total Depth 3,000m
Probability Mean value, NSAI report
* Resource not proven
7

8. TSX.V: ADL
License Overview: Offshore & Onshore Israel
Gabriella (96,371 Acres) - Offshore
Target: Oil Jurassic Fractured Carbonates: 4,900m
Exploration: 511 Km Dual Axis 3D completed Jan 2011
Drilling: Shallow water 140 to 200 meters
Yitzhak (31,629 Acres) - Offshore
Target: Oil Jurassic - Fractured Carbonates: 4,600m
Exploration: 129 Km 3D completed Jan 2011
Drilling: Shallow water 140 to 200 meters
Samuel (89,205 Acres) - Offshore
Target: Oil Lower Cretaceous Carbonates
Target: Gas Plio/Pleistocene, Oligo/Miocene, Turbidites Canyon Sands: 2,000m
Exploration: 45 Km2 3D (OBC) to be completed July 2011
Drilling: Shallow water 40 to 100 meters
Eitan (31,060 Acres) - Onshore Hula Valley
Target: Gas Pleistocene Sands, Lumachelle Conglomerates: 200m
Target: Gas CBM - Lignite and Sub-Bituminous Coal, 40m thickness @ 600m
Target: Gas CBM – Sub- Bituminous Coal, 20m thickness @ 1,000m
Exploration: 42 previously drilled wells (5 BCF Pr,2P 40BCF)*Not NI-51Compliant
Drilling: Wheeled access (Company owned rig)
8

9. TSX.V: ADL
Gabriella License – Offshore
(96,371 Acres)
Target: Oil Jurassic Fractured Carbonates: 4,900m
Exploration: 511 Km Dual Azimuth 3D completed Jan 2011 by Adira (Western
Geco), Processing underway by CGG Veritas
Resource Report: Currently underway by Gustavson Associates
Prior Drilling: Yam Yafo-1 Well was drilled in 90’s to 5,823m and tested 500 bpd
oil (44-47 API). Technical and financial challenges prevented
commercial production.
Drilling: Shallow water 120 to 200 meters. Jack-Up or Floater
Operator: Adira Energy
Working Interest: 15%, plus 15% back-in option from Modiin Energy upon
discovery, at cost
Partners: Brownstone Energy 15%, Modiin Energy 70%*
9

10. TSX.V: ADL
Yitzhak License – Offshore
(31,689 Acres)
Target: Oil Mid Jurassic - Fractured Carbonates: 4,600m
Exploration: 129 Km 3D completed Jan 2011 by Adira (Western Geco), processing underway by CGG Veritas
Resource Report: Currently underway by Gustavson Associates
Prior Drilling: Delta-1 Well drilled (off structure) in 1970’s to 4,423m, TD in Upper Jurassic above where oil encountered in
Mid Jurassic (Yam Yaffo1 and Yam 2)
Bathonian (Zohar formation) tested for oil in Yam Yafo-1 (4,890m – 4,995m) and Yam-2 Well (5,315m)
interesting & significant structural high
Drilling: Shallow water 140 to 200 meters. Jack-Up or Floater
Operator: Adira Energy
Working Interest: 85%
Partners: Brownstone Energy 15%
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11. TSX.V: ADL
Gabriella & Yitzhak Structures
Yitzhak
Gabriella Structure
Structure
East Mediterranean Structural Ridge
Yitzhak

12. TSX.V: ADL
Samuel License – Offshore
(89,205 Acres)
Target: Oil Lower Cretaceous Carbonates at 3,200m
Target: Gas Plio/Pleistocene, Oligo/Miocene, Turbidites, Canyon Filled Sands: 2,000m
Exploration: 45 Km2 3D OBC (Ongoing) (ARIS Nefterazvedka) Existing 2D indicates
presence of DHI
Processing: Ongoing-IOX-CXT
Prior Drilling: Yam-2 Well immediately west tested oil in Jurassic, Ashdod oil field in
Jurassic, Heletz oil field (Lower Cretaceous)
A Drilling: Shallow water 40 to 100 meters
Operator: Adira GeoGlobal (Adira Lead)
B
Working Interest: 38.25%
Partners: Brownstone Energy 6.75%, Pinetree Capital 10%,
GeoGlobal Resources 45%
A DHI B
12

13. TSX.V: ADL
Eitan License- Onshore, Hula Valley
(31,060 Acres)
Target: Gas Conventional Gas: Pleistocene Sands, Lumachelle Conglomerates: 200m
Target: Gas Unconventional Gas: Pleistocene, Lignite and Sub- Bituminous Coal, 40m thickness @
600m and Bituminous Coal, 20m thickness @ 1,000m
Exploration: 5 BCF Proven and Probable (2P) and 40 BCF 3P – Not NI-51 Compliant, 143 Km 2D
Seismic – Reprocessed coring and testing currently underway
Prior Drilling: 42 previously drilled wells, Coal prior tested at 200 scft
Drilling: Wheeled access (Company owned rig)
Operator: Adira Energy
Working Interest: 100%
13

14. TSX.V: ADL
Risk Reduction
Seismic Operations by Multi-Tier Professional Quality Control
Acquisition Processing Interpretation
Design &
Adira Energy internal professional team and advisors
management
QC Monarch Geophysical Services – QA/QC Adira Energy team
Western Geco – “Quick look”
Gabriela & Adira Energy team
Western Geco – 3D CGG/Veritas – main and advanced
Yitzhak
processing Gustavson – Colorado
ION-GXT (start end of July) Netherland Sewell &
Samuel ARIS – 3D (OBC) Associates - Houston
14

15. TSX.V: ADL
Adira Energy Technical Targets & Guidance
Gabriella Yitzhak Samuel
License License License
Acquired existing 2D seismic data,
  
reprocessed and evaluated
Complete preliminary detailed resource report
& submit to Israeli Government
  
Complete “Quick look” processing
Western Geco
Not Applicable
 
Complete 3D Survey Underway, Expected July
  2011
Evaluation of prospects for drilling targets
Underway Underway Underway
Detailed Drilling Planning: Prioritized by
prospect & commodity delivery Underway Underway Underway
Complete resource evaluation and risking
from fast track processing Ongoing Ongoing Ongoing
Processing (main & advanced)
Ongoing- CGG Veritas Ongoing- CGG Veritas Ongoing- IOX-CXT
Strategic selection & leveraged participation
in new license/permit applications Ongoing Ongoing Ongoing
Processing 3D and incorporation into
Hydrocarbon Potential Reports Planned Planned Planned
Procure drilling contractor, supplies/services
Expected Mid- 2012 Expected Mid- 2012 Expected Mid- 2012
First well
Q4 2012- Drilling Expected to Commence – 3 Wells to be Drilled Consecutively
15

16. TSX.V: ADL
Strategy – Shallow Targets
Capitalizing on Israel’s Immediate Demand for O&G
Lower Risk Offshore Drilling
• Target shallow water bench drilling
• Lower drilling costs vs. competitive deep water exploration in the region
• Operate at less than 1/3 the cost of deep water rigs drilling in Israeli waters
• Correspondingly AFE’s and risk are lower
High Resource Potential – Oil and Gas
• Strategic selection of licenses with proven, prior analogous production and exploration
• 2D and now 3D seismic has already been completed on Gabriella and Yitzhak
• 2D complete on Samuel, and 3D complete by end July 2011
Lower Infrastructure Costs – Near Market
• Yitzhak and Gabriella both offer significant oil targets that can be exploited at a fraction of
costs vs. deep water - increasing netbacks to interest holders
• Gas targets on Samuel are below current pipeline infrastructure
• Deliveries to market has less operational, environmental & financial risk vs. deep water
targets. Delivery to market before deep water developments is achievable
Economic Focus
• Oil from shallow well locations are more economically viable than deep water wells
• Shallow gas targets on Samuel said to have better economics/molecule than deep water
• Deep water gas have higher infrastructure costs, high pressure & highly technical delivery
parameters & long time delivery market
16

17. TSX.V: ADL
License Partners
Brownstone Energy Inc:
A Canadian-based, TSX-V listed, energy-focused company with direct interests in oil and gas assets around
the world. Brownstone has the right, subject to certain conditions, to earn a 15% Working Interest in Adira’s
offshore blocks for three years.
Pinetree Capital Ltd:
A Canadian-based TSX listed diversified investment, financial advisory and merchant banking firm focused
on investing in early stage resource companies. Pinetree has a 10% Working Interest in the Samuel block.
GeoGlobal Resources Inc:
GGR is an AMEX listed, Canadian- based resources and operating company engaged in the exploration for
and development of petroleum and natural gas reserves internationally. GGR has a 45% Working Interest in
the Samuel block.
Modiin Energy LP/GP:
A substantial Tel Aviv- based oil and gas investment group. Modiin has farmed-in a 70% interest in the
Gabriella License. Modiin carried Adira for the first US$8 million in exploration funding on Gabriella. Adira
has a back-in option from Modiin of 15% of the Modiin working interest at cost, for a period of six months
after a discovery.
 Adira operating royalty from Modiin of 3.75% for 24 months, increasing to 4.25% thereafter
 Combined (ORRI ) royalty of 4.5%, increases to 10.5% after cost recovery
17

18. TSX.V: ADL
Israel Oil & Gas Demand/Supply
Figure 1: Gas supply from Mari B, Tamar, Leviathan; Israeli gas demand Figure 2: Israeli oil demand largely met by imports
Source: UBS
18

19. TSX.V: ADL
Adira Energy - TXS.V: ADL
(OCTBB-US – ADENF, Frankfurt – AORLB8)
Capital Structure, June 2011
Shares Issued & Outstanding 101.2M
Warrants 19.5M
ESOP 8.9M
Fully Diluted Shares 129.6M
Financings to Date Proceeds
◦ 8.0m units at $0.25 (half warrant at $0.50)
Sept 2009 ◦ Warrants expire August 31, 2011
$2.5M USD
◦ 27.5m units at $0.40 (half warrant at $0.55)
Nov 2010 ◦ Warrants expire December 2013
$11M USD
Feb 2011 ◦ 10.5m shares at $0.62 $6.5M CAN
19

20. TSX.V: ADL
Why Adira Energy?
Unique Opportunity to Participate in Significant New Israeli Oil & Gas Discovery
Fields.
• Significant License Portfolio
• World Class Technical Expertise
• TSX-V Listed: Access to Global Capital
• Local Israeli Operations Office and Team
• Strong Technical and Financial Partners
20

21. TSX.V: ADL
Contact Information
Canada:
Corporate Office:
Alan Friedman
Canada Exec. Vice President, Corporate Development
120 Adelaide Street West, Suite 1204 +1 416 250 1955
Toronto, Ontario Julia Maxwell
M5H 1T1 Manager, Investor Relations
info@adiraenergy.com
+1 416 361 2211
Israel Office:
Israel:
12 Abba Hillel Silver, 12th Floor Gadi Levin
Ramat Gan, 52506 Chief Financial Officer
+972 (0) 3 373 0166
www.adiraenergy.com 21

22. TSX.V: ADL
Appendices
22

23. TSX.V: ADL
Appendix 1
Israel: Economic Miracle in the Middle East
Financial Stability:
• 2010: Israel accepted as a full member of the Organization for Economic Cooperation (OECD)
• Israel reclassified as a DEVELOPED market by MSCI
• Ranked highest in the region on the World Bank's Ease of Doing Business Index as well as in the
World Economic Forum's Global Competitiveness Report
• Second-largest number of start-up companies in the world (after the United States)
• Largest number of NASDAQ listed companies outside North America
• Global financial crisis of 2008-09 spurred a brief recession in Israel, but the country entered the crisis
with solid fundamentals - following years of prudent fiscal policy and a series of liberalizing reforms
*CIA Intelligence Report
Fiscal Strength:
Standard and Poor's Foreign currency sovereign credit - “A”, Long-term local currency rating to - “AA”
• Inflation: 4.1% for the last 12 months *Bank of Israel – July 2011
• Growth: Estimated at 5.2% in 2010 and 3.8% in 2011 *Bank of Israel – July 2011
• Employment : Estimated at 5.8% Unemployment in 2011 *Bank of Israel – July 2011
• Land: 22,100 Sq. Km *2009 OCDE
• Population: 7.3 Million *2009 OCDE
• GDP: Growth 4% in 2008, Grew by 0.5% in 2009 Expected to expand in 2010. DP is 45%
Exports. *CIA Intelligence Report
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24. TSX.V: ADL
Appendix 2
Cross Section of The Levant Basin
• Located off Israel's Mediterranean coast, encompasses an area of 83,000 square km with
waters up to 1,700m deep, and mostly within Israeli territorial waters
• The first commercially viable discovery in Israel was made in 1999 with the Noa/Mari B fields
(Yam Tethys partnership) and began production in 2004
Schematic of subsurface showing the Tamar and Leviathan discoveries
SE
24

25. TSX.V: ADL
Appendix 3
Capitalizing on Undiscovered Potential: Levant Basin
25

26. TSX.V: ADL
Appendix 4
Current Oil & Gas Production Israel
• Heletz Oil Field - During the 1950’s, Israel discovered this on-shore field. Over the past 50 years it has produced cumulative 20
million barrels of Oil. It is essentially fully depleted.
• Yam Tetis Field - The country’s only current domestic gas source. The Ministry of Infrastructure expects it to be fully depleted in
the next decade. The field’s .85 TCF was the largest find in the country, before Tamar.
• EMG Consortium - An agreement for gas from Egypt to Israel provides for the sale of 1.7 billion cubic meters of gas per year,
representing 20% of Israeli electricity current consumption ($5.50 - $5.75) per MMBt.
Israel Recent Discoveries
• Tamar (January 2009). Delek/Noble Energy (NYSE: NBL) Consortium made a significant discovery of natural gas (approx. 8.4
TCF) off Haifa. This is a world-class discovery and as such has created increased drilling activity and significant investor interest in
the region.
• Dalit (March 2009). Following Tamar, a second natural gas discovery offshore Israel identified more than 110 feet of net pay
approx. 0.5 TCF). With the successes at Tamar and Dalit, a potentially substantial new resource basin with large remaining
exploration potential opened up. Additional 3D in the area in the second half of 2009 with potential for additional targets. Dalit is
situated approx. 55 km northwest of Gabriella and 45km northwest of Yitzhak.
• Leviathan (December 2010). Nobel recently announced the Leviathan gas discovery, West of Tamar, estimated at over 16 TCF of
gas. The well halted for additional liner casing as it is being deepened for potential deeper oil targets. Leviathan is the largest gas
discovery ever in Israel, and the largest offshore gas discovery in the world over the past decade.
• Mari – B (Production in 2003)
First meaningful discovery was made in 1999, in the Yam Tethys field, which comprises the “Mari B” and “Noa” reserves. Located
off Israel’s southern coast, the field originally had estimated reserves of perhaps 35bcm or 1.24 TCF. Gas started flowing in 2004
(via a 42km pipeline to the southern coastal town of Ashdod) and annual production capacity is currently around 3.6 BCM, or 60%
of Israel’s natural gas requirements. In December 2010, Mari B had remaining reserves of 10.4 BCM. Mari B is expected to be
depleted in 2013.
26