Pelagic set to take majority stake in Adira

Pelagic Investments (PI) has agreed to acquire shares in offshore Israel exploration specialist Adira Energy.

Offshore staff

TORONTO --Pelagic Investments (PI) has agreed to acquire shares in offshore Israel exploration specialist Adira Energy.

PI is an investment group managed by Prentis B. Tomlinson who also owns Cayman Islands-based Pelagic Exploration, which holds interests in various licenses offshore Israel.

Tomlinson said ofAdira: “The development of the company’s interests in the Gabriella and Yitzhak licenses provide a unique opportunity to access a material stake in large contingent and prospective resources in highly fractured Middle Jurassic carbonates on these Syrian Arc structures.”

7/4/2013

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