Avner Oil - Annual Report 2011 - Delek Energy Systems

Noa lease - development or production operationsDescription %Summary of the calculation methodfor royalties or payments (withreference to the agreement)Operator 0.85%-1% These amounts are for indirectexpenses and are in addition toreimbursement of direct expensespaid to the operator. The rate ofpayment to the operator decreases asdevelopment or production expensesincrease.Total effective rate of expenses at the level ofthe oil asset100.85%-101%Share of the equity holders of the Partnershipin the oil asset's expenses (linked)Share of the equity holders of the Partnershipin the effective rate of revenues, at the level ofthe oil asset (before other payments at thelevel of the Partnership)23%20.2%-23.23%Payments (derived from the expenses) in respect of the oil asset and at the level of thePartnership (the following percentages will be calculated in accordance with the Partnership'sshare in the oil asset)There are no payments in the PartnershipEffective share of expenses for developmentand production of the oil asset, attributable tothe Partnership20.2%-23.23%7.3.9 Royalties and payments paid during exploration, development and production operationsfor the oil asset (USD thousands)Ashkelon leaseDescriptionBudget actually invested in 2009(including the payments)Budget actually invested in 2010(including the payments)Budget actually invested in 2011(including the payments)Total share ofequity holders ofthe Partnership ininvestment in theoil asset in thisperiod 26Of which, share ofholders of thePartnership’sequity rights ininvestment inpayments to thegeneral partnerOf which, theshare of equityholders of thePartnership inpayments to theoperator (beyondthe direct return ofexpenses)00,8,8 66 00,13,,31 66 1,601,0,3 66 38Noa lease26Including costs for which payments are not made to the operator.A-23