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Noble Energy Announces Karish Discovery in Israel

Source: www.gulfoilandgas.com 5/22/2013, Location: Middle East

Noble Energy, Inc. (NBL) announced a natural gas discovery at the Karish prospect offshore Israel. The discovery well was drilled to a total depth of 15,783 feet and encountered 184 feet of net natural gas pay in high-quality lower Miocene sands. The Karish well, located in the Alon C license approximately 20 miles northeast of the Tamar field, is in 5,700 feet of water. Discovered gross resources, combined with the de-risked resources in an adjacent fault block on the license, are estimated to range(1) between 1.6 and 2.0 trillion cubic feet (Tcf) with a gross mean of 1.8 Tcf.

The Karish discovery is the fifth discovered field with an estimated gross mean resource size over 1 Tcf. It is also the seventh consecutive field discovery for Noble Energy and its partners in the Levant Basin. With the addition of Karish and the recent increase in resource estimates at Tamar and Leviathan, total discovered gross mean resources in the Levant Basin are now estimated to be approximately 38 Tcf.

The Ensco 5006 rig drilled the Karish well and will relocate to Cyprus where it is scheduled to spud an appraisal well at the Cyprus A discovery next month.

Noble Energy is the operator of the Alon C license with a 47.06 percent interest. Co-owners are Avner Oil and Delek Drilling each with a 26.47 percent interest.

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