Avner Oil and Exploration, one of the partners in the Tamar natural gas field off the Haifa Coast, received another 12 new offshore drilling licenses. According to Globes: “Avner Oil and Gas LP (TASE: AVNR.L) today received 12 new drilling licenses for the offshore Ruth and Alon prospects. Avner is one of the partners in the Tamar prospect, where huge natural gas reserves were found earlier this year. Eleven of the new licenses each cover a 100,000-acre area and the twelfth covers 79,500 acres. The licenses are valid for three years, through the end of February 2012. Avner’s work plan calls for mapping and analyzing the two prospects with new seismic surveys within nine months, followed by a feasibility study, more seismic studies, and the drilling of offshore wells by February 2011.”

It’s reasonable to think that there is more in the way of natural gas in the vicinity. It’s hard to think that there is just one deposit of natural gas. If Avner finds more of the fuel, Israel could become a global player for natural gas. How crazy is that?

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