Avner Oil - Annual Report 2011 - Delek Energy Systems

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Total discounted cash flow from proved reserves at December 31, <strong>2011</strong> (in USD thousands for the Partnership's share)Cash flow itemstoSalesquantity(BCM)(100% ofthe oilasset)RevenuesRoyaltiespayableRoyaltiesreceivedOperatingcostsDevelopment costsAbandonment andrestorationcostsTotal cashflow beforelevy andincome tax(discountedat 0%)LevyTaxesIncometaxDiscountedat 0%Total discounted cash flow after taxDiscountedat 5%Discountedat 10%Discountedat 15%Discounted at 20%Dec. 31, 2034 - - - - - - - - - - - - - - -Dec.31, 2035 - - - - - - - - - - - - - - -Dec. 31, 2036 - - - - - - - - - - - - - - -Dec. 31, 2037 - - - - - - - - - - - - - - -Dec. 31, 2038 - - - - - - - - - - - - - - -Dec. 31, 2039 - - - - - - - - - - - - - - -Dec. 31, 2040 - - - - - - - - - - - - - - -Dec. 31, 2041 - - - - - - - - - - - - - - -Dec. 31, 2042 - - - - - - - - - - - - - - -Dec. 31, 2043 - - - - - - - - - - - - - - -Dec. 31, 2044 - - - - - - - - - - - - - - -Dec. 31, 2045Total 195.17 7,872,370 4,,69,411 - ,14,414 ,51,747 9,,1,7 6,791,941 9,451,996 766,195 9,776,969 4,711,711 4,444,746 767,719 6,6,199A-61
Total discounted cash flow from probable reserves at December 31, <strong>2011</strong> (in USD thousands for the Partnership's share)Cash flow itemstoSalesquantity(BCM)(100% ofthe oilasset)RevenuesRoyaltiespayableRoyaltiesreceivedOperatingcostsDevelopment costsAbandonment andrestorationcostsTotal cashflow beforelevy andincome tax(discountedat 0%)LevyTaxesIncometaxDiscountedat 0%Total discounted cash flow after taxDiscountedat 5%Discountedat 10%Discountedat 15%Discounted at 20%Dec. 31, 2012 - - - - - - - - - - - - - - -Dec. 31, 2013 - - - - - - - - - - - - - - -Dec. 31, 2014 - - - - - - - - - 424 (424) (375) (334) (299) (269)Dec. 31, 2015 - - - - - - - - - 212 (212) (179) (152) (130) (112)Dec. 31, 2016 - - - - - - - - - 212 (212) (170) (138) (113) (93)Dec. 31, 2017 - - - - - - - - - 212 (212) (162) (126) (98) (78)Dec. 31, 2018 - - - - - - - - - 212 (212) (154) (114) (85) (65)Dec.31, 2019 - - - - - - - - - 212 (212) (147) (104) (74) (54)Dec.31, 2020 - - - - - - - - - 212 (212) (140) (94) (65) (45)Dec. 31, 2021 - - - - - - - - - 212 (212) (133) (86) (56) (38)Dec. 31, 2022 - - - - - - - - - 212 (212) (127) (78) (49) (31)Dec. 31, 2023 - - - - - - - - - 212 (212) (121) (71) (43) (26)Dec. 31, 2024 - - - - - - - - - 212 (212) (115) (64) (37) (22)Dec. 31, 2025 - - - - - - - - - 212 (212) (110) (59) (32) (18)Dec. 31, 2026 - - - - - - - - - 212 (212) (105) (53) (28) (15)Dec.31, 2027 - - - - - - - - - 212 (212) (100) (48) (24) (13)Dec.31, 2028 - - - - - - - - - 212 (212) (95) (44) (21) (10)Dec. 31, 2029 3.34 152,636 62,602 - 944 - - 066,012 61,001 01,316 60,161 60,13, ,,230 0,060 6,010Dec. 31, 2030 6.17 287,627 0,,010 - 1,743 - - 632,013 011,201 36,060 ,2,006 3,,1,1 02,630 1,626 3,312Dec. 31, 2031 9.00 427,958 13,613 - 2,543 - - 360,,06 021,0,1 01,006 003,61, 66,061 66,310 ,,011 0,013Dec. 31, 2032 10.05 487,260 13,211 - 2,838 - - 011,133 016,000 60,1,6 023,661 21,002 63,012 ,,301 3,1,0Dec. 31, 2033 11.84 585,262 011,660 - 15,599 - (23,438) 0,6,611 603,660 23,321 606,26, 16,600 61,112 01,216 0,61,A-62
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All English versions / translation
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2.5 Map of the Limited Partnership'
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351/Hannah, 352/David and 353/Eran
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Law), which sets out provisions for
Page 13 and 14: (D)(E)(F)(G)(H)(I)(J)(K)(L)(M)Exami
Page 15 and 16: The Natural Gas Sector Law and its
Page 17 and 18: Description of the Partnership's oi
Page 19 and 20: The main terms of the leases in the
Page 21 and 22: Noa leasePeriodSummary of the opera
Page 23 and 24: 7.3.7 Calculation of the effective
Page 25 and 26: the oil asset (before other payment
Page 27 and 28: DescriptionBudget actually invested
Page 29 and 30: have not been brought before the co
Page 31 and 32: Salesquantity(BCM)(100% of theoil a
Page 33 and 34: Salesquantity(BCM)(100% of theoil a
Page 35 and 36: (4) Production dataThe following ta
Page 37 and 38: on the project level and the Partne
Page 39 and 40: Sensitivity analysis for the main p
Page 42 and 43: (3) Basic parameters used to calcul
Page 44 and 45: 7.4 Tamar project7.4.1 GeneralTamar
Page 46 and 47: 7.4.2 Main terms of the I/12 Tamar
Page 48 and 49: (C)If the Commissioner postpones or
Page 50 and 51: (F)(G)(H)(I)(J)(K)(1) The leasehold
Page 52 and 53: 7.4.5 Actual work plan and intended
Page 54 and 55: PeriodDalit leaseSummary of the ope
Page 56 and 57: Dalit leaseParticipation rate %Perc
Page 58 and 59: DescriptionEffective share attribut
Page 60 and 61: 7.4.9 Royalties and payments paid d
Page 62 and 63: expenses which can be directly attr
Page 66 and 67: Total discounted cash flow from pro
Page 68 and 69: Total discounted cash flow from pos
Page 70 and 71: Sensitivity/categoryTotalPresentval
Page 72 and 73: Contingent resources in the Dalit l
Page 74 and 75: ParameterPorosity (decimal)Lowestim
Page 76 and 77: 7.5 Ratio Yam licenses7.5.1 General
Page 78 and 79: The following are the planned activ
Page 80 and 81: PeriodEran licenseDescription of th
Page 82 and 83: PeriodAmit licenseSummary of the op
Page 84 and 85: Hannah licensePeriodSummary of the
Page 86 and 87: PeriodEran licenseSummary of the op
Page 88 and 89: 7.5.7 Calculation of the effective
Page 90 and 91: (B)(C)(D)(E)B. A statistical progra
Page 92 and 93: 7.5.10 Prospective resources in the
Page 94 and 95: ParameterLower-Oligocene(%)Mid-Cret
Page 96 and 97: (D)(E)(F)(G)(4) The contingent reso
Page 98 and 99: 7.5.12 Prospective resources in the
Page 100 and 101: PeriodDescription of the updated wo
Page 102 and 103: Description%Summary of the calculat
Page 106 and 107: 7.7.3 Binding work plan according t
Page 108 and 109: 7.7.5 Disclosure of the effective p
Page 112 and 113: General information about the Partn
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PeriodDescription of the updated wo
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Description %Summary of the calcula
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7.8.10 Royalties and payments paid
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(B)(C)The report was based on the r
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7.9 Petroleum licenses that were re
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7.10 Products and servicesDuring th
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7.11.3 Agreements to sell natural g
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At the signing date of the letter o
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(G)addition, Yam Tethys partners ha
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(B)(13) Breach and damages: Accordi
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(D)Agreement to sell natural gas to
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(4) The gas price stipulated in the
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energy market is characterized by h
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7.20 Financing7.20.1 General(A)(B)(
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The dollar-denominated loan bears a
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tests 157 ; compliance with the res
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(E)financing agreement; purchase of
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(C)Tamar financing agreementFinanci
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As set out above, under licenses an
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(C) Petroleum Regulations (Principl
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The gas facilities that the license
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(2) Without derogating from the gen
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B. The operator of an offshore righ
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subsection (4) below exist (conditi
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Furthermore, the draft regulations
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(D)(E)(F)(G)(H)(I)(J)months after c
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(N)(O)(9) If a revised assessment i
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# Assumption Details and explanatio
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7.24 AntitrustOn October 12, 2000,
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(C)For expenses associated with dev
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(F)(G)(H)committee of the joint ven
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(L)(M)(N)(O)accumulated according t
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(D)(E)Subject to the terms of the o
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(I)(J)committee meetings, and will
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obtaining Cypriot government approv
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(5) It is noted that under Regulati
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Contingent agreements for the sale
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had not yet been received, although
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Liquefaction (LNG) The Partnership
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7.30 Risk factorsOil and gas explor
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in deviations in the budget (expect
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process for transferring the rights
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GlossaryAppraisal well: a drilling
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Avner Oil Exploration Limited Partn
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The effects of the increase in sale
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USD 6.5 million, as noted above. In
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investment in development of the Ta
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marine areas on the Cyprus continen
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Part II: Market Risks - Exposure an
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As collateral for the Partnership's
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3. Independent directorsThe Compani
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5. External auditors' feesThe amoun
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4) Accepting a financial liability
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Project cash flow (in USD millions)
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AVNER OIL EXPLORATION (LIMITED PART
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Auditors' Report to the Partners of
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Avner Oil Explorations - Limited Pa
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Untimely Meditationshad only you, t
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Regulation 10A: Summary of the Part
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Regulation 12:Regulation 13:Regulat
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C. Interested parties in the Partne
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Regulation 24:will not be able to d
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Regulation 24B: Holders of the Part
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10. Occupation in the past five yea
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9. Education: LLB, Tel Aviv Univers
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Ronen Edward (ID 024652745)1. Date
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executive liability insurance, base
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Avner Oil Exploration - Limited Par
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Declaration of the CFO based on Reg
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Avner Oil - Annual Report 2011 - Delek Energy Systems

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