Adira Energy is an ADR (foreign) stock ADENF #board-21346
About Adira Energy Ltd.
Adira Energy Ltd. explores for oil and gas in and offshore Israel. It has four petroleum exploration licenses; the Eitan, Gabriella, Yitzhak and Samuel Licenses, collectively covering an aggregate total of approximately 350,000 acres. These licenses are located respectively on-shore in the Hula Valley of Northern Israel, 10 km offshore between Netanya and Ashdod, 17 km offshore between Hadera and Netanya and adjacent to the coast between Ashqelon and Bat-Yam. In addition the company has an agreement to farm in to 70% the Notera license adjacent to the company's Eitan license. --- About Modiin Energy
MELP is an Israeli listed limited partnership managed by MEGP which is controlled in equal shares by Tzahi Sultan and I.D.B Investments through a company called Noya Investments. Tzahi Sultan is the executive Chairman of Clal Finance Underwriting ("CFU"). CFU is the leading underwriter and investment banker in Israel with 50% of the total market In 2009 CFU raised over 30 Billion Shekels (84bn $US).
I think I'll wait until the drill bit, logging and testing of their first well proves up the commercial oil field they are bragging about. Their quotes only allude to the fact that their "survey" found commercial oil and gas... Sounds like they are putting a lot of faith in their seismic, if that is what their "survey" is referring to...
Time will tell, but i smell hype here on this story from Modiin Energy and Adira Energy.
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