Delek Group Reports on Petition to High Court
OREANDA-NEWS. December 25, 2015. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that attached is an Immediate Report published by Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership ("the Partnerships") concerning a further petition submitted to the High Court.
Pursuant to the Immediate Reports dated December 17, 2015 and December 21, 2015, we hereby announce that on December 22, 2015 the Partnerships received a copy of an (additional) amended petition to the High Court for the grant of an order nisi and a renewed application for an interim order, which includes, inter alia, the addition of additional respondents to the petition, including the Partnerships.
The petition was submitted by the Academic Center for Law and Commerce and the Organization for a Sustainable Economy, at the time of its original submission - against the Government of Israel and the Knesset, and as part of the amended petition were added to it as respondents - the Partnerships, Ratio Oil Exploration (1992) Limited Partnership, Isramco Negev 2 Limited Partnership, Dor Gas Exploration Limited Partnership and Noble Energy Mediterranean Ltd. (jointly the "Respondents"). The petition mainly includes an application for the grant of an order nisi ordering the Respondents to attend and explain why an order absolute should not be given canceling part of the clauses of the outline plan for the natural gas market (in the chapter "Maintenance of a stable regulatory environment") relating to the Government's undertaking not to make changes to the regulations or legislation. Similarly, the petition includes a renewed application for the grant of an interim order ordering a postponement of the validity of the said clauses until a ruling on the aforementioned petition.
The Partnerships intend to study this petition to the High Court with the assistance of their legal counsel, to assess its significance and accordingly to formulate their further steps in the matter.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on December 23, 2015.
About The Delek Group
The Delek Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean's Levant Basin into one of the energy industry's most promising emerging regions. Having discovered Tamar and Leviathan, two of the world's largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets with total gross natural gas resources discovered since 2009 of approximately 40 TCF.
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