Offshore staff
TORONTO –Brownstone Energy Inc. (TSXV:BWN;OTCQX:BWSOF) says the Ministry of Energy and Water of Israel has extended the dates for drilling starts offshore at the Gabriella and Yitzhak licenses.
Permit holders now have until Sept. 1, 2012, to execute a contract, moved from July 1, and to spud a well on Gabriella by June 30, 2013, and on Yitzhak by Oct. 30, 2013. Both are moved from Dec. 1, 2012.
In related news, Brownstone has announced that Gabriella consortium partner Adira Energy Ltd. (TSXV:ADL;OTCBB:ADENF)has signed a memorandum of understanding authorizing Modiin Energy to enter into a drilling contract with Noble Drilling for work on Gabriella before June 30, 2013.
The licenses are held by Modiin Energy, 70%; Brownstone, 15%; and Adira, 15%.
6/20/2012
