The Rising Influence of Rising Affluence

[Timothy Smith]

$NBL $DGRLY - agrees to sell a 35% stake in its gas exploration rights in waters off Cyprus to the U.K.'s BG International, which includes the Aphrodite natural gas discovery, for $165M.

NBL will maintain operatorship of the block with a 35% interest, while Israel's Delek Group (OTCPK:DGRLY) holds 30%.

Aphrodite, discovered in 2011, has ~4T cf in gross mean natural gas resources.

Cyrpus' energy minister says the deal is an important step forward for the country's plans to supply Egypt with natural gas.