Avner Oil - Annual Report 2011 - Delek Energy Systems

7.7.4 For further information, see the actual work plan and intended work plan for the Alon licenses.The following is a summary of the main activities actually carried out in the Alon license areas fromJanuary 1, 2009 through to the date of the report and a summary of the planned activities in theselicenses:PeriodSummary of the operationsperformed in the period / summaryof the planned work plan2009 • Mapping of potential prospectsbased on a 2D seismic surveyconducted in 2008• Performance of 3D seismic surveys(together with the Ratio Yam licenseareas) ("the 2009 seismic survey")2010 • Feasibility analysis of the prospects• 3-D seismic surveys "the 2010seismic survey")Actual totalcost/estimated totalbudget for operationson the level of the oilasset (USDthousands) 1264,080 1,16110,109 2,877The Partnership'seffective share ofthe cost/budget(USD thousands)2011 • Processing and interpretation of aseismic survey in 2010• Continuation of preparation of drillingprospects• Reprocessing of the 2009 seismicsurvey• On December 12, 2011, drillingstarted at the Tanin 1 exploration wellin the 364/Alon A license, ending onFebruary 5, 2012 at a final depth of5,500 m (including water depth).• On February 7, 2012, thePartnership announced a natural gasdiscovery at the Tanin 1 well.2012 toSeptember 1,2013• Submission of quarterly reports foroperations carried out in the license• Submission of a drilling prospect atleast three months before theplanned drilling date in the licensearea; submission of a documentdescribing the technical specificationof the drilling rig and the timetable fordrilling, no later than three monthsbefore drilling and no later thanMarch 14, 2013 127• Submission of a drilling plan thatincludes detailed geological andengineering planning, including riskanalysis for the site, at least threemonths before starting the planneddrilling. Submission of a summaryreport of the drilling findings no laterthan three months after completion.• Submission of a reportsummarizing the operations bySeptember 1, 2013•1,97636,96350,000-70,000 for eachdrilling56210,51814,795-20,713 ,for each drilling126 The amounts for 2009-2011 are amounts that have actually been expended and are audited in the financialstatements.127 If the drilling is carried out by one of the rigs already operating in licenses which Noble holds (Sedco Express, PrideNorth America and Homer), this document is not required.A-104