Ellomay Capital's Farm-in to 20% of the Participating Interests in the Yitzchak Oil & Gas Exploration and Drilling License Finalized
TEL-AVIV, Israel, January 11, 2012 /PRNewswire/ --
Ellomay Capital Ltd. (NYSE Amex: ELLO) ("Ellomay" or the "Company"), announced today that the Israeli Petroleum Commissioner approved the farm-in of Ellomay Oil and Gas 2011 LP, a limited partnership whose general partner is a wholly-owned subsidiary of Ellomay, to 20% of the participating interests in the Yitzchak oil and gas exploration and drilling license in the Mediterranean sea (the "Farm-In Transaction"). The Farm-In Transaction is now unconditional and effective.
About Ellomay Capital
Ellomay Capital is an Israeli public company whose shares are listed on the NYSE Amex stock exchange, which focuses its business in the energy and infrastructure sectors worldwide and is chaired by Mr. Shlomo Nehama, former Chairman of Bank Hapoalim. Ellomay Capital's assets include ten photovoltaic plants in Italy with an aggregated capacity of approximately 11 MW and holdings in Dorad, Israel's largest private power plant, which is currently under construction and is expected to produce approximately 800MW, representing about 8% of Israel's current electricity consumption.
Information Relating to Forward-Looking Statements
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SOURCE Ellomay Capital Ltd