Adira Energy Receive Approval from Israel’s Petroleum Commissioner for farm-out of 25% of its Yitzhak License Interest

Adira Energy LTD.(TSXV:ADL) announced receiving approval for the farm- out to the AGR Group on December 5, 2011.

As quoted in the press release:

Adira has received approval from Israel’s Petroleum Commissioner for the farm-out of 25% of its interest in the Yitzhak license (the “License”) to the AGR Group and Ellomay Oil and Gas 2011 LP, pursuant to a series of Farm-Out Agreements announced on December 5, 2011.

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