The Tamar license partners have received a revised estimate of natural gas reserves in the reservoir of 9.44 trillion cubic feet (best estimate) from Netherland, Sewell & Associates, Inc. (NSAI). The previous best estimate was 8.6 trillion cubic feet of gas.
NSAI's revised low estimate is 6.66 trillion cubic feet and its high estimate is 11.18 trillion cubic feet.
Tamar's partners estimate the cost of developing the reservoir at $3 billion. Isramco has not yet approved the budget.
NSAI also notified Isramco that Tamar's net contingent cash flow (after taxes and royalties) to the company for the best estimate is between $7.2 billion (at no discount) and $572.5 million (at a 20% discount).
Delek Group's share price fell 1.6% in morning trading to NIS 618.20, giving a market cap of NIS 7.17 billion, Avner's share price fell 1.5% to NIS 1.81, giving a market cap of NIS 6.15 billion, Delek Drilling's share price fell 1.9% to NIS 9.82, giving a market cap of NIS 5.48 billion, and Isramco's share price fell 1.7% to NIS 0.40, giving a market cap of NIS 4.9 billion.