Israel Petroleum Commissioner grants extension for Myra, Sarah offshore oil and gas licenses

Source: Bontan Corp.

The Israeli Ministry of National Infrastructure confirms in their letter dated May 16, 2010 that the two offshore licenses; the 347/Myra and the 348/ Sarah in which Bontan Corporation holds an indirect 11% net working interest are fully valid. 

In addition, the Ministry approved changes in the work program as submitted by the company’s project partners Emanuelle Energy Ltd. and IDB-DT Energy (2010). 

The work program (to be submitted in agreed stages over the next 10 months) will begin with the delivery, completion and interpretation of the 3D seismic data by mid July 2010.

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