Avner Oil - Annual Report 2011 - Delek Energy Systems

David licensePeriodSummary of the operations performedin the period / summary of the plannedwork planActual totalcost/estimated totalbudget for operationson the level of the oilasset (USDthousands) 93The Partnership'seffective share of thecost/budget (USDthousands)least three months before the planneddate for drilling in the license area• Submission of a document describingthe technical specification of the drillingrig and the timetable for drilling, nolater than three months before drillingand no later than March 14, 2013 94• 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 summary report of thedrilling findings no later than threemonths after completion.• Submission of a report summarizingthe operations in the license area byJune 14, 2013Eran licensePeriodSummary of the operations performedin the period / summary of the plannedwork plan2009 • Mapping of potential prospects basedon a 2D seismic survey conducted in2008• 3-D seismic surveys• Feasibility analysis of the prospects2010 • Processing and interpretation of theseismic surveys, as described above2011 • Continuation of interpretation ofseismic surveys•2012 upto June14, 2013• Continuation of interpretation ofseismic surveys• Submission of quarterly reports,including exploration results,geological, geophysical andengineering data and details ofexpenses for works carried out in thelicense.• Submission of a drilling prospect atleast three months before the planneddate for drilling in the license area• Submission of a document describingActual totalcost/estimated totalbudget for operationson the level of the oilasset (USDthousands) 95The Partnership'seffective share of thecost/budget (USDthousands)1,562 381505 123495 12150,000-70,000 06,216 -01,1069495If 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.The amounts for 2009-2011 are amounts that have actually been expended and are audited in the financialstatements.A-82