The share price of Shamir Investments Swing Ltd. (TASE: SHINV), controlled by Yuli Ofer, more than doubled today on the news that it had received 51% of rights in the Yuli Ofer Oil Exploration Limited Partnership for free.
Shamir Investments will implement its activities through Yuli Ofer Oil Exploration Limited Partnership. Nimrod Rinot, who owns 12.5% in Shamir, also holds a stake in that partnership. Shamir Investments, a shell company, will change its name to Premium International Holdings Ltd.
Yuli Ofer Oil Exploration Limited Partnership announced today that it is negotiating to buy rights in the Sarit, Irus, Ofek, Yahal and Bar Or gas licenses. The partnership wants to buy 10% of the Sarit license and 7.5% of the Irus license from Lapidoth Israel Oil Prospectors Corporation Ltd. (TASE: LAPD) subsidiary Lapidoth Heletz LP. (TASE: LPHL).
The partnership announced yesterday that it was in talks to buy 15% of Globe Exploration LP (TASE: GLEX.L).
In late afternoon trading on the TASE, Shamir Investments share price was up 119% to NIS 2.12, giving a market cap of NIS 90 million.
Published by Globes, Israel business news - www.globes-online.com - on September 6, 2010
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