Middle East Economic Survey

VOL. LII

No 48

30-Nov-2009

israel

Canadas Bontan Acquires Equity In Three Permits Offshore Israel

Bontan Oil and Gas, a subsidiary of Canadas Bontan Corporation, has announced the acquisition, through its 75% equity interest in Israel Petroleum Company (IPC), of an indirect 71.63% interest in two drilling licenses and one exploration permit 40km off the Israeli coast. IPC has acquired an undivided 95.5% working interest in the assets, subject to approval by the Israeli...