Israelis Ring the Bell on Bay Street



By: YOSEF TASTASSA  
Published: January 11th 2011
in Economics » Local

Adira Energy Logo

An Israeli-Canadian Cooperation

 

To ring the morning trading bell on Bay Street is a great honor and is given only to companies or persons that usually have contributed significantly to the local economy.

 

Mr. Alan Friedman, the Executive Vice-President and Mr. Ilan Diamond, CEO, of "Adira Energy" Ltd., had the honor of ringing the bells on Bay Street yesterday and officially start the January 10th trading day.

 

Who is Adira Energy?

 

If you ask the Israelis who are involved in the energy sector, they'll tell you that Adira is Canadian. If you ask the Canadians, they'll tell you that Adira is and Israeli company traded in Canada. The company's website says the following: "Energy in Israel for Israel" that is traded since the beginning of December 2010 under the symbol ADL in the Toronto Stock Exchange Venture (TSXV).

 

Adira the Hebrew word for feminine might and it's an exploration corporation that has licenses to explore oil and natural gas in Israel and her economic waters.

 

Adira's Goals

 

Adria Energy's mission statement is to offer investors the opportunity to participate in a previously unexplored oil & gas frontier, Israel.

 

Adira's aim is for an energy self-sufficient Israel, and in the process they are building a world class energy company.

 

Adira's licenses

 

The corporation is holding the following full or partial licenses:

 

a. Eytan – Inland site in the Hula valley in Northern Israel

 

b. Gabriella – Deep water site between the cities of Netanya and Ashdod.

 

c. Yitzhak – 17 offshore between Netanya and Hadera

 

d. Samuel – Offshore site between Bat-Yam and Ashqelon.

 

Adira's shares

 

January 10th was a good day for Adira shares on Bay Street. The shares surged by 6.67 per cent and the closure was 80 cents. If you listen to Israeli geologists you'll hear that there are about 6 more "Leviathans" out there in the Mediterranean Sea. The last discovery is worth nearly $90 billion.

 

Ratio Oil, one of the "Leviathan" partners, surged in two years by over 900 per cent. If Adira is lucky enough, and its drilling rigs will hit another "Leviathan", its shares will jump to the sky. However, if only sand is found then all the invested money is for nothing. Exploration of oil and natural gas was, and always will, be a risky business.

 

This article does not recommend investing in the capital market



Related articles: (Adira, Energy, Oil, Gas, Shares, Israel)



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