Adira energy october final

TSX.V: ADL

Corporate Presentation October 2011

A TSX-V Listed Oil and Gas Company

Exclusively Focused On and Offshore Israel

TSX.V: ADL

Forward Looking Statements

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, and\or 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.

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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 pre-drilling

• Strong shareholder base with access to additional capital

• Two independent NI 51- 101 Resource Reports completed by Gustavson Associates on Gabriella & Yitzhak

• Indication of resource potential, both onshore and offshore

• Carefully managed exploration strategy

• 3D geophysics now complete on three licenses

• Established Tel Aviv office, fully staffed with local infrastructure

• TSX-V listed with Toronto office and executive presence

• Experienced and professional Board, Technical and Management Teams

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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 CEO of Kinley Exploration LLC, leading a team of industry experts providing professional, technical and oversight expertise to international resource

companies within the upstream sector. With 30 years of international expertise in integrated energy project management and new energy companies

development. Kinley served as a Senior Executive to several E & P companies & oilfield service companies and is specialized in frontier resource

development. He is a Director and CEO of Manx Energy Inc. - an Integrated Oil and Gas Company developing Heavy Oil in Canada and a Director of

Excelsior Minerals.

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Hezi Kugler- Chief Executive Officer 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.

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.

Alon Polishuk - VP of Contracts Administration and Regulations Mr. Polishuk brings over five years in Government Services of Israel, managing and co-coordinating mission critical programs and projects. He has

extensive experience in project management, business development and expertise in legal analysis and critical examination. Mr. Polishuk specializes

in Law and was admitted to the Israel Bar in 2001. He holds a BA, Business (Finance) from the Arison School of Business, as well as LLE, Radzyner

School of Law, Interdisciplinary Center, Herzliya.

Alan Friedman - Executive Vice President - Corporate Development, Director

Colin Kinley – Senior Advisor, Director 5

Management & Advisors

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Israel Petroleum Licenses

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Adira Current Resource Summary – Offshore* (Gabriella and Yitzhak Licenses)

Hydrocarbon Classification Best Estimate (P50) Gross

Oil (44- 47 API) Contingent (Gabriella) 277 MMBO

Oil (44- 47 API) Prospective (Yitzhak) 20.4 MMBO

Gas Prospective (Gabriella) 3.56 TCF

Gas Prospective (Yitzhak) 989 BCF

Condensate Prospective (Gabriella) 398MMBOE

Condensate Prospective (Yitzhak) 144 MMBOE

Notes:

MMBO = Millions of Barrels

MMBOE = Millions of Oil Equivalent

* As referred to in the Gustavson Associates NI 51- 101 Technical Reports titled “Report for License #378 / Gabriella, Offshore Israel”,

dated September 06, 2011 and “Report for License #380 / Yitzhak, Offshore Israel”

TSX.V: ADL Peer Discoveries & Prospects, Israel

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MARI- B

Initial reserves

Timeline

Annual Production Capacity

Participants

Operator

35BCM (1.2Tcf, 213mmboe)

Operational since 2004, expected depletion in 2013

3-4BCM

Delek Drilling (25.5%), Avner (23%), Delek Group (4.4%), Noble Energy (47.1%)

Noble Energy

TAMAR

Resource

Discovery Date

Expected start-up

Expected peak gas production (Phase

1)

Total Depth

Participants

Operator

8.7 Tcf (1.45boe)

Feb-09

2013

1,000-1200MMcf/day

5,000m

Delek Drilling (15.5%), Avner (15.6%), Noble Energy (36%), Isramco (28.8%), Dor Gas

(4%) Nobel Energy

LEVIATHAN- Gas

Resource

Discovery Date

Total Depth

Participants

Operator

16Tcf (2.9boe)

Dec-10

17% (estimated)

Delek Drilling (22.7%), Avner (22.7%), Noble Energy (39.7%), Ratio (15%)

Noble Energy

*LEVIATHAN-Oil

Resource 1

Depth

Probability

Resource 2

Total Depth

Probability

3bn Barrels (expected)

5,800m

17% (Estimated)

1.2bn Barrels (expected)

7,200m

8% (estimated)

*SARA & MYRA

Resource 1

Depth

Probability

Resource 2

Total Depth

Probability

Gas 6.5 TCF

3,700m

Mean value, NSAI report

Oil 150 MMBL

5,500m


*SHEMEN

Resource 1

Depth

Probability

Resource 2

Total Depth

Probability

Oil: Bravo 127 MMBBL; Yam 142 MMBBL

5,700m


Gas: Bravo 127 BCF, Yam 142 BCF

3,000m


* Resource not proven

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Yitzhak (31,629 Acres) - Offshore Target: Oil Jurassic - Fractured Carbonates: 4,600m

Target: Gas Cretaceous carbonates and sands: 2,300m

Target: condensate Cretaceous carbonates and sands : 2,300m

Exploration: 129 Km 3D completed Jan 2011

Drilling: Shallow water 140 to 200 meters

Gabriella (96,371 Acres) - Offshore

Target: Oil Jurassic Fractured Carbonates: 4,900m

Target: Gas Cretaceous limestone and sands: 2,700m

Miocene stratigraphic: 1,950m

Target: Condensate Cretaceous limestone and sands: 2,700m

Miocene stratigraphic channel delta fill: 1,950m

Exploration: 511 Km Dual Axis 3D completed Jan 2011


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) completed July 2011


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)

License Overview: Offshore & Onshore Israel

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Gabriella License: Offshore (96,371 Acres)

Target: Oil Jurassic Fractured Carbonates: 4,900m

Target: Gas Cretaceous limestone and sands: 2,700m


Target: Condensate Cretaceous limestone and sands: 2,700m


Exploration: 511 Km Dual Azimuth 3D completed Jan 2011 by Adira

(WesternGeco), Processing underway by CGG Veritas

Resource Report: Completed September 2011 by Gustavson Associates

Prior Drilling: Yam Yafo-1 Well :Drilled in 90’s to 5,823m, tested 500 bopd

(44-47 API)

Drilling: Shallow water 120 to 200 meters. Jack-Up or Floater

Operator: Adira Energy 15% Working Interest plus 15% back-in option

from Modiin Energy, at cost. Approximate 10% ORRI

Partners: Brownstone Energy 15%, Modiin Energy 70%

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P50 (Best Estimate) Contingent Oil : 277MMBO

P50 (Best Estimate) Prospective Condensate: 398 MMB

P50 (Best Estimate) Prospective Gas: 3.56 TCF

Technical Highlights

Gabriella Structure- Depth

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Yitzhak License: Offshore (31,689 Acres)

Target: Oil Mid Jurassic , Zohar- Fractured Carbonates: 4,600m

Target: Gas Cretaceous Talme Yafe carbonates and sands: 2,300m

Target: Condensate Cretaceous Talme Yafe carbonates and sands: 2,300m

Exploration: 129 Km 3D completed by Adira (WesternGeco), processing

underway by CGG Veritas

Resource Report: Completed September 2011 by Gustavson Associates

Prior Drilling: Delta-1 Well drilled (off structure) in 1970’s to 4,423m, TD in

Upper Jurassic where oil encountered in Mid Jurassic (Yam

Yaffo1 and Yam 2) 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 85% Working Interest – Partner Brownstone

Energy

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P50 (Best Estimate) Prospective Oil: 20.4MMBO

P50 (Best Estimate) Prospective Condensate: 144MMB

P50 (Best Estimate) Prospective Gas: 989BCF

Yitzhak Structure- Depth

Technical Highlights

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Gabriella & Yitzhak Structures

Gabriella

Structure

Yitzhak

Structure

Yitzhak

East Mediterranean Structural Ridge

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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)


Operator: Adira GeoGlobal (Adira Lead), 38.25% Working Interest

Partners: Brownstone Energy 6.75%, Pinetree Capital 10%, GeoGlobal Resources 45%

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DHI

A B

A

B

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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, 100% Working Interest

Eitan License- Onshore, Hula Valley (31,060 Acres)

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Risk Reduction Seismic Operations by Multi-Tier Professional Quality Control

Interpretation Processing Acquisition

Adira Energy internal professional team and advisors Design &

management

Adira Energy team

Monarch Geophysical Services – QA/QC QC

Adira Energy team

Gustavson – Colorado

Netherland Sewell &

Associates - Houston

Western Geco – “Quick look”

CGG/Veritas – main and advanced

processing

Western Geco – 3D Gabriela &

Yitzhak

ION-GXT

ARIS – 3D (OBC) Samuel

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Adira Energy Milestones & Guidance

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Gabriella

License

Yitzhak

License

Samuel

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

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

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

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Strategy – Shallow Water, Large Targets

Lower Risk Offshore 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

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, Yitzhak, Samuel

Lower Infrastructure Costs – Near Market • Gas targets on blocks are close to 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

• Deep water gas have higher infrastructure costs, high pressure & highly technical

delivery parameters & long time delivery market

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Capitalizing on Israel’s Immediate Demand for O&G

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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. 10% Working Interest in the Samuel block.

GeoGlobal Resources Inc:

AMEX listed, Canadian- based resource and operating company engaged in the exploration and

development of petroleum and natural gas reserves internationally. 45% Working Interest in the Samuel

block.

Modiin Energy LP/GP:

Tel Aviv- based oil and gas investment group. farmed-in 70% interest in the Gabriella License. Carried

Adira for the first US$8 million in exploration funding. 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

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TSX.V: ADL

Adira Energy - TXS.V: ADL

(OCTBB-US – ADENF, Frankfurt – AORLB8)

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Capital Structure, June 2011

Shares Issued & Outstanding 101.2M

Warrants 19.5M

ESOP 8.9M

Fully Diluted Shares 129.6M

Financings to Date Proceeds

Sept 2009 8.0m units at $0.25 (half warrant at $0.50)

Warrants expire September 31, 2011 $2.5M USD

Nov 2010 27.5m units at $0.40 (half warrant at $0.55)

Warrants expire December 2013 $11M USD

Feb 2011 10.5m shares at $0.62 $6.5M CAN

Analyst Coverage

Cormark Securities $1.50 Target August 18, 2011

Clarus Securities $ 2.00 Target September 13, 2011

TSX.V: ADL

Why Adira Energy?

• 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

Unique Opportunity to Participate in Significant New Israeli Oil & Gas Discovery

Fields.

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Contact Information

Corporate Office:

Canada

120 Adelaide Street West, Suite 1204

Toronto, Ontario

M5H 1T1

Israel Office:

12 Abba Hillel Silver, 12th Floor

Ramat Gan, 52506

Canada:

Alan Friedman

Exec. Vice President, Corporate Development

+1 416 250 1955

Julia Maxwell

Manager, Investor Relations

[email protected]

+1 416 361 2211

Israel:

Gadi Levin

Chief Financial Officer

+972 (0) 3 373 0166

www.adiraenergy.com

[email protected]

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http://www.adiraenergy.com/

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Appendices

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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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Appendix 3

Capitalizing on Undiscovered Potential: Levant Basin

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Appendix 2

Cross Section of The Levant Basin

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• 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

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Israel Oil & Gas Demand/Supply

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Figure 1: Gas supply from Mari B, Tamar, Leviathan; Israeli gas demand Figure 2: Israeli oil demand largely met by imports

Source: UBS

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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.

• 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.

Israel Recent Discoveries

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