Middle East Economic Survey

VOL. LIII

No 34

23-Aug-2010

ISRAEL

Givot Olam Reports Large Reserves After Production Test On Israels Meged-5 Well

Israels Givot Olam Oil on 17 August announced that the onshore Meged oilfield could hold as much as 1.525bn barrels of crude oil, following production testing on the Meged-5 well. The announcement created a rush to purchase Givot Olam shares on the Tel Aviv Stock Exchange (TASE) where trading was soon suspended while the exchange authorities demanded more...