Bontan Updates Work Program of Sarah, Myra Licenses

Bontan Corporation and partners in the Offshore Israel Project announced that the 3D seismic data covering the Sarah and Myra licenses was submitted to the Ministry of National Infrastructure as per the agreed work program. The first phase of the interpretation of the data should be completed and submitted to the MNI by Aug. 1, 2010. The two licenses, Sarah and Myra, compromising the Offshore Israel Project, span about 198,400 acres (310 square miles), and are situated in the Levantine Basin near Noble's Tamar and Dalit natural gas discoveries. Partners in the license consist of IPC Oil and Gas, Tel Aviv-based Emanuelle Energy, Modin Energy Partnership, Emanuelle Energy Oil & Gas, and four other entities including the operator, GeoGlobal Resources (India) Inc.

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