Cyprus Mail

Cyprus Opportunity Energy obtains a 5% stake in Israel’s Hatrurim oil finding

Global Benchmark Brent crude jumped more than 3 percent on Monday to a four-year high above $80 a barrel

By Nicholas Kakouros

Cyprus Opportunity Energy plc, which explores for oil and gas inside the island’s EEZ, said it obtained a 5 per cent share in the Hatrurim licence which covers a 94 square kilometres in Israel, close to the Dead Sea, for an unspecified price, the Jerusalem Post reported today.

The other shareholders in Hatrurim, in which Delek Group discovered oil 20 years ago, are Zerah Oil and Gas Explorations with a 29 per cent stake, Ginko Oil Exploration with also 29 per cent, Israel Opportunity Energy Resources with 25 per cent, Ashtrom Group Ltd with 10 per cent and an unspecified company owned by Eliyahu Rosenberg with Ltd 2.5 per cent, the Jerusalem Post reported on its website.

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