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News For GNE From The Last 14 Days
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July 28, 2015
08:41 EDTGNEGenie Energy Afek Oil & Gas completes drilling second exploratory well
Genie Energy announced that its Afek subsidiary has completed drilling at Ness 3, the second well of its exploratory drilling program in Northern Israel's Golan Heights. Preliminary results from the well are consistent with the assumptions underlying the exploratory program and the results encountered at Ness 5 -- the first well drilled in the program, which is located about 5 km to the northeast of Ness 3. Afek is conducting exploratory drilling program of up to 10 wells under an exclusive petroleum exploration license granted by Israel's Energy and Water Ministry and a drilling permit issued by Israel's Northern District Planning and Building Committee. The company is nearing completion of its analysis of the cores removed from Ness 5, as well as the logs and other information from that well, and is continuing its analysis of the cores and logging data obtained at Ness 3. The preliminary analysis indicates the presence of hydrocarbons in vertical sections in both locations.

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