25 November 2009 – Operations Update # 30

Posted on November 25, 2009

The Ma’anit-Rehoboth #2 Well

We drilled the Ma’anit-Rehoboth #2 well to a depth of 17,913 feet (5,460 meters) and the proposed completion procedures planned for this well have now been reviewed and agreed.

Today, Wednesday, November 25, 2009, I signed a Contract with the owners of a suitable workover rig.

We intend to carry out completion testing operations on this well, starting December 6, 2009.

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Drilling Operations at the Elijah #3

The Elijah #3 well has been cased from the surface down to 3,461 feet (1,055 meters.

Since Thursday, November 19 we have been drilling very hard formation (Lower Cretaceous Tayasir Volcanics) with a PDC bit (averaging 5 meters per hour penetration).

Very soon, we expect to be drilling in Upper Jurassic carbonates.

As of today, Wednesday, November 25, 2009, we have drilled to a depth of approximately 4,872 feet (1,485 meters).