Adira Energy Ltd. (ADL.V) announced that the Ministry of Energy and Water of the State of Israel has granted an extension of the date for the execution of a drilling contract of the first well on the Yitzhak offshore license from December 31, 2012 to June 30, 2013.
Jeffrey E. Walter, Chief Executive Officer of Adira Energy stated: "This extension allows Adira additional time in order to obtain the rig required to drill the well on Yitzhak while currently focusing on the imminent drilling of Gabriella."
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