Delek Energy Ltd.

89% held indirectly by Delek Group Chairman: Gabriel Last CEO: Gideon Tadmor Delek Energy Ltd., the oil and gas exploration & production (E&P) arm of the Delek Group, is a public company whose shares have been listed on the Tel Aviv Stock Exchange since 1982. Between 1999 and 2000, Delek Energy's subsidiaries; Delek Drilling LP (held 62%) and Avner Oil Exploration LP (held 39%) struck vast quantities of natural gas in two gas fields off the Israeli coast (Noa & Mari-B). The natural gas reserves in those two fields, estimated at approximately 32 billion cubic metres and are owned by the Yam Tethys joint venture (53% held accumulatively by Delek and 47% by Noble Energy Inc., a leading American oil exploration company and the operator of the project). Over half of the production of these gas fields has been committed to the Israeli Electric Corporation, while the remainder will be produced for private clients such as Israel Chemicals Ltd. In early 2009, the Delek E&P subsidiaries discovered a second significant gas reservoir; known as Tamar, off the Northern coast of Israel. The natural gas quantities contained in this discovery were estimated at a p mean average of 5 TCF – approximately five times larger than the amount found in Mari-B and Noa. A more exact assessment of the magnitude of this discovery is to be achieved by the appraisal well scheduled for later in 2009. The company ownership of these prime drilling locations in addition to numerous licenses for further exploration off the Israeli coast ensures that Delek Energy through its subsidiaries Delek Drilling and Avner will remain one of Israel’s major energy suppliers for the foreseeable future. Following Delek Energy's success with the Mari-B wells back in 2000, the Company started expanding abroad and partnering in additional exploration & production projects in the USA, Vietnam, Russia, the North Sea and Africa. In Vietnam, Delek Energy holds 25% of a development project together with Premier Oil and Santos. In the US, Delek Energy owns several E&P assets, including 100% of Elk Resources, based in Colorado, with producing assets in Utah and New Mexico.

Delek Energy Ltd.

89% held indirectly by Delek Group Chairman: Gabriel Last CEO: Gideon Tadmor Delek Energy Ltd., the oil and gas exploration & production (E&P) arm of the Delek Group, is a public company whose shares have been listed on the Tel Aviv Stock Exchange since 1982. Between 1999 and 2000, Delek Energy's subsidiaries; Delek Drilling LP (held 62%) and Avner Oil Exploration LP (held 39%) struck vast quantities of natural gas in two gas fields off the Israeli coast (Noa & Mari-B). The natural gas reserves in those two fields, estimated at approximately 32 billion cubic metres and are owned by the Yam Tethys joint venture (53% held accumulatively by Delek and 47% by Noble Energy Inc., a leading American oil exploration company and the operator of the project). Over half of the production of these gas fields has been committed to the Israeli Electric Corporation, while the remainder will be produced for private clients such as Israel Chemicals Ltd. In early 2009, the Delek E&P subsidiaries discovered a second significant gas reservoir; known as Tamar, off the Northern coast of Israel. The natural gas quantities contained in this discovery were estimated at a p mean average of 5 TCF – approximately five times larger than the amount found in Mari-B and Noa. A more exact assessment of the magnitude of this discovery is to be achieved by the appraisal well scheduled for later in 2009. The company ownership of these prime drilling locations in addition to numerous licenses for further exploration off the Israeli coast ensures that Delek Energy through its subsidiaries Delek Drilling and Avner will remain one of Israel’s major energy suppliers for the foreseeable future. Following Delek Energy's success with the Mari-B wells back in 2000, the Company started expanding abroad and partnering in additional exploration & production projects in the USA, Vietnam, Russia, the North Sea and Africa. In Vietnam, Delek Energy holds 25% of a development project together with Premier Oil and Santos. In the US, Delek Energy owns several E&P assets, including 100% of Elk Resources, based in Colorado, with producing assets in Utah and New Mexico.