Israel

GeoGlobal Resources Inc., Calgary, said joint operating agreements have been completed for the 347 Mira and 348 Sara deepwater licenses in the Mediterranean off Israel.

Nov 12th, 2010

By OGJ editors
HOUSTON, Nov. 12
-- GeoGlobal Resources Inc., Calgary, said joint operating agreements have been completed for the 347 Mira and 348 Sara deepwater licenses in the Mediterranean off Israel.

GeoGlobal, designated operator of the licenses, has paid $1.2 million for the two stakes. The licenses are south of the Noble Energy Inc. group’s Tamar and Dalit deepwater gas discoveries.

Other license interests at the time of the initial agreements in June 2010 were Emanuelle Energy Ltd. 24.161%, Emmanuelle Energy Gas and Oil Explorations Ltd. 19.161%, Modiin Energy LP 19.282%, IPC Oil and Gas (Israel) LP 13.609%, The Israel Land Development Co. Ltd. 5%, IDB Development Corp. Ltd. 5%, and Blue Water Oil & Gas Exploration Ltd. 8.787%.

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