Nimrodi: We'll begin drilling in Jan-Feb 2012

ILDC Energy chairman Ofer Nimrodi: Selling "Ma'ariv" was like marrying off a beautiful daughter to a rich man - a little sadness and a lot of joy.

"We'll begin drilling at Myra and Sarah in January or February 2012. We've already signed contracts for a rig with a drilling company, and we hope to announce results during the first quarter of 2012," Israel Land Development Company Energy Ltd. (TASE: IE) chairman Ofer Nimrodi told Channel 2's "Savings Plan".

Commenting on his sale of Hebrew daily "Ma'ariv" to Nochi Dankner, who is also a partner in Myra and Sarah, Nimrodi added, "I am sure that Nochi Dankner's IDB Holding Corp. Ltd. (TASE:IDBH) is the most suitable company with the most trusted hands to take over 'Ma'ariv' and move it forward. It's a very strong company with high management skills. I still own a third of Ma'ariv Holdings Ltd. (TASE: MARV-M), with the confidence that it will be good."

Nimrodi added, however, "I described it to someone as a kind of nostalgia, but it's like when you raise a beautiful daughter, but when she matures and she should get married, you first search for the most successful husband for her. She spreads her wings, and your heart's a little sad, but you're also happy for her. That's exactly how I feel about 'Ma'ariv' - a little sadness and a lot of joy."

Published by Globes [online], Israel business news - www.globes-online.com - on June 30, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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