Delek Group with Avner Oil Exploration - Limited Partnership and Delek Drilling Limited Partnership announces report in respect of a submission to the government of Cyprus a declaration of commerciality of the Block 12 reservoir in Cyprus under the Production Sharing Contract (PSC).
Further to sections 7.10.11(a)(3) in the Partnerships’ annual reports as of December 31, 2014, as published on March 18, 2015 ("the Annual Report"), the Partnerships are pleased to announce that on June 5, 2015 they submitted, together with the other partners in Aphrodite, the natural gas reservoir in Block 12 in Cyprus (the "Aphrodite Reservoir" and "Aphrodite Reservoir Partners", respectively), to the Government of Cyprus, a Declaration of Commerciality of Aphrodite Reservoir under the PSC.
In addition, the Aphrodite Reservoir Partners intend to submit a proposed outline of the development plan of the Aphroidite Reservoir to the government of Cyprus ("Development Plan Outline"), as mentioned in the Annual Report. For more details about the Development Plan Outline, see section 7.10.11 (a) (3) of the Annual Report.
