Adira Energy’s Samuel License Granted Extension of Drill Contract and Spud Date

- July 3rd, 2012

Adira Energy (TSXV:ADL,OTCBB: ADENF,FWB:AORLB8) has been granted by the Ministry of Energy and Water of the State of Israel an extension of the dates for the execution of a drilling contract and the spudding of the first well on the Samuel offshore license.

Adira Energy (TSXV:ADL,OTCBB: ADENF,FWB:AORLB8) has been granted by the Ministry of Energy and Water of the State of Israel an extension of the dates for the execution of a drilling contract and the spudding of the first well on the Samuel offshore license.

As quoted in the press release:

This extension complements those extensions granted for the execution of drilling contracts and the spudding of the first wells for the Gabriella and Yitzhak Licenses (as announced June 12, 2012), thus providing the Company with sufficient time to execute on its entire License portfolio.

Click here to read the Adira Energy (TSXV:ADL) press release
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