The Israel Land Development Company – Energy Ltd. (ILDC Energy)
ILDC Energy Ltd. was founded in March 2010 and since then engages in gas and oil exploration in Israel.
In addition to its current operations, ILDC Energy presently conducts preliminary checks of further options, in the fields of alternative energy, renewable energy and oil and gas exploration in various sites elsewhere in the world. ILDC Energy is a public company traded on the Tel Aviv Stock Exchange and included in the TA MildCap Index and TA Oil & Gas Index.
ILDC Energy operates directly and via Company-controlled corporations.
ILDC Energy holds, through Emanuelle Energy Ltd. (“Emanuelle Energy”), a private company fully owned by the Company, and through Emanuelle Energy – Gas and Oil Exploration (“Emanuelle Partnership”), a limited partnership also fully owned by the Company together with its holding company – The Israel Land Development Company Ltd. (“ILDC") which holds 5% of the rights, working interests totaling approximately 46.6% (see Footnote 1) in two offshore drilling licenses: 347/”Myra” and 348/”Sara”, each spanning 400 square kilometers, within Israel’s economic waters. The Sara and Myra license sites are located approximately 40 km west of Hadera, south of the Dalit and Tamar gas deposits.The other partners in these licenses include the IDB Group and the Ofer Brothers.
The first exploration drills to the gas targets in the "Myra” and ”Sara” licenses were concluded. According to information received from the operator, both drills were declared "Dry Holes" and in either of them no commercial quantities of hydrocarbons were found. However, according to information given to the partners in the licenses by the operator, the results of the wire line logs together with the high quality sands found in the drills may suggest that there is an active hydrocarbon system in the licenses area. The operator is currently analyzing the geological data gathered during the drills to allow re-evaluation of the prospective oil and gas resources in the licenses area, in order to carry out further exploration drills in the future.
In addition to the rights in the Myra and Sara licenses, ILDC, Emanuelle Energy and Emanuelle Partnership (the “Emanuelle Group”) have an option for a working interest of some 11.5% in the Shmuel license, located near Israel’s coast in shallow water between Ashkelon and Bat Yam. Until now the Emanuelle Group exercised an option to acquire 7.128% (out of 100%) in the Shmuel license. The transfer of working rights so exercised is subject to the approval of the Commissioner for Oil Affairs in the Ministry of Energy & Water. In addition, ILDC and “Emanuelle Group” have an option for a working interest of 15% in the Oz license (previously called Binyamin South license), located approximately 40 km west of Hadera, near the Sara and Myra Licenses, against the transfer of 5% of the working interests in the Sara and Myra licenses.
ILDC Energy holds approximately 36% of the share capital of Geo Global Resources Inc. (“GGR”). GGR is an American public company which trades in Amex stock exchange as of 2004. GGR is an operator for exploration and production of oil and gas reserves with experience in deep water and land drilling. GGR is currently active in Israel, India and Colombia. GGR owns exploration rights in 13 locations: 10 licenses in India (9 onshore and 1 offshore) and 3 licenses in Israel. GGR is scheduled to hold 2 additional licenses in Colombia, following the signature of tender principles.
ILDC Energy holds approx. 51% of the share capital of Emanuelle Adriatic Energy Ltd., which has reached agreement with the representative of the Government of Albania about receiving rights to develop, produce and sell hydrocarbons (oil & gas) in 3 maritime blocks in the Adriatic Sea, spanning a total area of some 5,070 square kilometers off the Albanian shore and under Albanian control, subject to the signing of a detailed agreement and receiving regulatory permits.
On May 11, 2012 a fully-owned subsidiary of ILDC Energy, Emanuelle International, submitted an offer in a tender published by the Government of Cyprus, bearing on the acquisition of exploration and production rights of oil and/or gas in the economic waters of Cyprus.
Click the link for the website of ILDC Energy
(1) Including a share amounting to 5.852% of the rights in the licenses of Blue Water Oil & Gas Exploration Ltd. and excluding a share amounting to 7.6% of the rights in the licenses which were transferred to Modiin Energy, a limited partnership, in a transfer subject to the approval of the Commissioner, both subject to the approval of the Commissioner for Oil Affairs in the Ministry of Energy & Water.
It is also to be noted that ILDC has an option to purchase shares in ILDC Energy against the transfer of all of its rights (5%) in each of the said licenses, which ILDC has committed to exercise upon approval by the Commissioner of Oil Affairs that the Company has the financial strength required.