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Adira Energy receives resource report on the Samuel License offshore Israel


Published Oct 22, 2012
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Adira Energy in Israel

Adira Energy Ltd. has received an independent resource report (the "Report") including a best estimate in aggregate of 65.8 million barrels (MMbbl) of oil and 65.8 billion cubic feet (BCF) of gas in four structures on the Company's Samuel License (the "License") located offshore Israel.

NSAI conducted an assessment of the Gross (100%) Unrisked Prospective Resources located in the #388 / Samuel block as of October 17, 2012. Approximately 42 km2 of 3D seismic data was acquired in 2011 for the License using state of the art Ocean Bottom Cable (OBC) and processing technology.

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