Avner Oil - Annual Report 2011 - Delek Energy Systems

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2.4 At the date of the report, the Limited Partnership has rights in the following oil assets 3 :IsraelProject Name of oil assets Type of rightThe Limited Partnership'srights in the oil assetsYam Tethys projectTamar projectRatio Yam licensesI/7 NoaI/10 AshkelonI/12 TamarI/13 Dalit349/Rachel350/Amit351/Hannah352/David353/EranLease 23%Lease 15.625%License 22.67%Ruth licenses358/Ruth ALicense 25.106%360/Ruth C 4359/Ruth BAlon licenses364/Alon A365/Alon B366/Alon C367/Alon D369/Alon FLicense 26.4705%CyprusProject Name of oil assets Type of rightThe Limited Partnership'srights in the oil assetsBlock 12 Aphrodite License 5 15%345Up to the publication date of the report, the following licenses expired: 361/Ruth D, 368/Alon E and 337/Avia. TheKeren license will expire on March 3, 2012. For further information, see section 7.9 below.An application submitted to the Commissioner for approval of the continued possession of the Ruth C license inaddition to the 12 licenses, as well as a license area exceeding four hundred thousand (400,000) hectares. Seesection 7.9 below.At the publication date of the report, the process for transferring the license rights to the Partnership has not yetbeen completed, as described in section 7.26 below.A-3
2.5 Map of the Limited Partnership's oil assets in IsraelA-4
Page 4: All English versions / translation
Page 9 and 10: 351/Hannah, 352/David and 353/Eran
Page 11 and 12: 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
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Dalit leaseParticipation rate %Perc
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DescriptionEffective share attribut
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7.4.9 Royalties and payments paid d
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expenses which can be directly attr
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Total discounted cash flow from pro
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Total discounted cash flow from pro
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Total discounted cash flow from pos
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Sensitivity/categoryTotalPresentval
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Contingent resources in the Dalit l
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ParameterPorosity (decimal)Lowestim
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7.5 Ratio Yam licenses7.5.1 General
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The following are the planned activ
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PeriodEran licenseDescription of th
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PeriodAmit licenseSummary of the op
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Hannah licensePeriodSummary of the
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PeriodEran licenseSummary of the op
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7.5.7 Calculation of the effective
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(B)(C)(D)(E)B. A statistical progra
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7.5.10 Prospective resources in the
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ParameterLower-Oligocene(%)Mid-Cret
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(D)(E)(F)(G)(4) The contingent reso
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7.5.12 Prospective resources in the
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PeriodDescription of the updated wo
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Description%Summary of the calculat
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7.7.3 Binding work plan according t
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7.7.5 Disclosure of the effective p
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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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