Adira Energy has applied for another extension to add between a year and 18 months to the deadlines on its Samuel licence off Israel.
The Israel-based Toronto-listed explorer said it has sought an extra year on the contract date to 30 March 2014, and an extra 18 months on the spud deadline to 30 September 2014.
In July 2012, Adira Energy secured a seven-month extension on the spud deadline taking it to the end of this month.
The company did not give a reason for the latest extension at block 388, which it previously put down to needing extra time to secure rig financing.
The licence covers 16,740 acres adjacent to the coast off Israel between Ashkelon and Rishon LeTziyon.
Adira Energy?s partners in the Samuel licence include Canada?s GeoGlobal Resources (42%), Pinetree Capital (10%), Tohar Hashemesh (10%) and Brownstone Energy (6.75%).
Source: http://www.upstreamonline.com/live/article1322487.ece
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