Bontan Corporation and Partners pay for the seismic data relating to the Israel offshore natural gas exploration project
Bontan’s working interest in the Licenses is 11%.
About the Project Area
The Licenses cover approximately 310 square miles and are located in the Levantine Basin near the recent Tamar 1, Tamar 2, and the Dalit natural gas discoveries. The wells were drilled by Noble Energy Inc. (NBL.NYSE), in partnership with Delek Energy Systems (DEOL.TA), Isramco (ISRA.TA) and Avner Oil and Gas LP (AVNR.TA). The wells have a reported 6.8 TCF (1.02 BBOE) of estimated proved, probable and possible reserves in their licensed area, making these wells the second largest gas discovery in the world since
Chapman Petroleum Engineering Ltd, an independent
About Bontan Corporation Inc.:
Bontan Corporation Inc. is an oil and gas exploration company that operates and invests in exploration prospects. Through its subsidiaries, Bontan seeks highly visible opportunities in countries around the globe with a history of natural resource production that offer exciting and attractive propositions. Bontan seeks to minimize risk by bringing in either joint venture, carried or working interest partners, depending on the size and scale of the project.
This news release includes forward-looking statements within the meaning of the U.S. federal and Canadian securities laws. Any such statements reflect Bontan’s current views and assumptions about future events and financial performance. Bontan cannot assure that future events or performance will occur. Important risks and factors that could cause actual results or events to differ materially from those indicated in our forward-looking statements, include: the effect of economic and political developments in
SOURCE Bontan Corporation Inc.