Ness Energy Uses New Technology to Re-Interpret Seismic Data

Ness Energy continues to advance operations in Israel through Modi'in Ltd. Partnership. The shareholders of Modi'in have voted in majority to allow an in depth study and seismic survey to verify and define the recent discovery of a potentially major oil and gas reservoir in Israel.

Toward the end of 2004, Ness reprocessed and reinterpreted old existing seismic lines in the Zohar Petroleum License in Israel, which covers approximately 45 sq km. The study employed a process using advanced seismological technology known as "Multi- Focusing", a patented process held by Geo-mage an Israeli company.

The results revealed a new major prospect extending the field causing it to be much larger than previous studies indicated. "The discovery of the extended field would not have been possible without the technological advancements that the industry is now being able to utilize to its benefit," said President Sha Stephens.

The prospect is situated North-North-East of the Ness / Modi'in Gurim structure and shows favorable indications in the Jurassic and Triassic formations. In order to evaluate the prospect completely, further seismic exploration work is required.

A 2D seismic study will be initiated with lines being shot across the new potential structure. The shoot will be composed of four short seismic lines and re-interpreting two older lines covering about 20 sq km using the Geo-mage process. The study and shoot will begin the early part of the second quarter.