Noble Sees Positive Results from Flow Tests at Dalit Offshore Israel

Noble Energy has announced flow test results from the Dalit natural gas discovery in the Michal license offshore Israel. Of the previously reported 110 feet of net pay identified, testing procedures were performed over a limited 43-foot section of the reservoir. The tests, which yielded a flow rate of 33 million cubic feet per day (Mmcf/d) of natural gas, were limited by testing equipment available on the rig.

Performance modeling indicates the well can be ultimately completed to achieve a production rate of about 200 Mmcf/d. Based on log and test results, Dalit is estimated to contain gross mean resources of approximately 500 billion cubic feet of natural gas.

Charles D. Davidson, Noble Energy's Chairman, President and CEO, said, "These results are very encouraging. Even though Dalit is smaller than Tamar, the discovery of this high quality reservoir adds important natural gas resources for development and gives us further confidence that our geologic model for this region is working very well. We expect to begin acquiring 3D seismic during the next several months to supplement our understanding of this basin and the various leads on our acreage."

The rig will immediately return to the Tamar discovery in the Matan license to drill an appraisal well designed to better define the resources of Tamar. The current estimated gross mean resource potential of Tamar is 5 trillion cubic feet of natural gas.

Noble Energy operates both the Michal and Matan licenses with a 36 percent working interest. Other interest owners are Isramco Negev 2 with 28.75 percent, Delek Drilling with 15.625 percent, Avner Oil Exploration with 15.625 percent and Dor Gas Exploration with the remaining four percent.