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News Breaks | | | | September 21, 2012 | | 09:18 EDT |  | GGR | GeoGlobal announces spudding of Sara-1 well
GeoGlobal Resources announced that at 5:30 pm Israel time on September 20 the Sara-1 well was spud by GeoGlobal and its partners using the Noble Homer Ferrington semi-submersible drill rig. GeoGlobal is the well operator and owns 5% of Sara, ILDC Energy and its affiliates own 41.6%, and its parent company Israel Land Development Company owns 5%. Modiin Energy LP, controlled by Tzahi Sultan and Nochi Danker's IDB Holding Corp. Ltd., owns 29.2%, IDB directly owns 5.6%, and IPC Oil and Gas Holdings owns 13.6%. | |
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