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Adira Energy Announces Farm-Out of All Its Offshore Licenses

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Adira Energy Limited. (ADL.V) has entered into a series of agreements to farm out 5% of its working interest in its Gabriella license, 10% of its Yitzhak license, and 10% of its Samuel license to reduce the Company's future financial commitments on the licenses. 2.5% of Adira's working interest in Gabriella will be carried.

Israel's Ministry of Energy and Water of the State of Israel has granted a further extension of the date for the execution of a drilling contract on the Samuel license offshore.

ADL is now trading at 12 cents, on volume 29,000.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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