If confirmed, it means that Block 12 is at least as large as Leviathan nearby, owned by Noble Energy and its partners, Delek Group Ltd. (TASE: DLEKG) and Ratio Oil Exploration (1992) LP (TASE:RATI.L). Delek, controlled by Yitzhak Tshuva, has an option to acquire 30% of the rights of the Block 12 concession.
Earlier this week, Cypriot website "Philenews" reported that Block 12 has 8-13 TCF. That report was also unconfirmed and unverified. Last month, Noble Energy said that Block 12 had 3-9 TCF, with a geological probability of success of 60%, based on the 3D seismic survey of the structure. This was well below earlier estimates of 10 TCF.
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