Area Drilling

10/15/2007
IsraelIsrael’s petroleum commissioner issued Avenue Energy Inc., New York City, a license to Heletz-Kokhav field near Ashkelon.The 60,000-acre license includes Heletz, Brur, and Kochav oil fields. Lapidoth Ltd. recently operated Heletz field under contract to the state, producing 70 b/d of oil from 6 wells.Avenue Energy agreed to a 3-year work program of field studies, well workovers, 3D seismic, and drilling a new well. The license may be converted to a 30-year production lease if a substantial production increase occurs.Heletz, developed on 80-acre spacing, has 53 idle wells, large infill drilling potential, and secondary and tertiary recovery potential.KansasCanary Resources Inc....
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