EZ Energy has an option to acquire 5% of the Neta and Roy exploration licenses, in the Gal offshore exploration permit, from Ratio.
The share price of EZ Energy Ltd. (TASE:EZ) is up 25.8% by mid-afternoon to NIS 0.039, after the company announced yesterday that controlling shareholder Eli Zahavi bought 32.3 million shares (3.1% of the company) in an off-floor deal, through his company EZ Energy LLC. The deal boosted Zahavi's stake in the company to 79.3%.
Zahavi paid NIS 0.03 per share, the same as yesterday's opening price, giving a market cap of NIS 33 million. EZ Energy's share price fell 38% over the 12 months through yesterday.
"Globes" reported yesterday that EZ Energy has an option to acquire 5% of the Neta and Roy exploration licenses in the Gal offshore exploration permit as part of a consortium with the right to acquire 40% of the permit from Ratio Oil Exploration (1992) LP (TASE:RATI.L).
Published by Globes [online], Israel business news - www.globes-online.com - on October 24, 2012
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