Adira Energy granted extension of drill contract on its Yitzhak license, offshore Israel

Adira Energy granted extension of drill contract on its Yitzhak license, 
offshore Israel 
(FRANKFURT: AORLB8). Adira Energy Ltd. ("Adira" or the "Company") is pleased 
to announce that the Ministry of Energy and Water of the State of Israel (the 
"Ministry") has granted an extension of the date for the execution of a 
drilling contract of the first well on the Yitzhak offshore license from 
December 31, 2012 to June 30, 2013. 
Jeffrey E. Walter, Chief Executive Officer of Adira Energy stated: "This 
extension allows Adira additional time in order to obtain the rig required to 
drill the well on Yitzhak while currently focusing on the imminent drilling of 
About Adira Energy Ltd. 
Adira Energy Ltd. is an oil and gas company which is focused in the Eastern 
Mediterranean. The Company has three petroleum exploration licenses offshore 
Israel; the Gabriella, Yitzhak and Samuel Licenses. These licenses are located 
respectively 10 km offshore between Netanya and Ashdod, 17 km offshore between 
Hadera and Netanya and adjacent to the coast between Ashkelon and Bat-Yam. The 
Company also has an option on the Yam Hadera License, offshore Israel, which 
is located 30 kilometers offshore Israel, between Hadera and Haifa and North 
West of Adira's Yitzhak license. 
Forward-Looking Statement Disclaimer 
This press release includes certain statements that may be deemed 
"forward-looking statements". All statements in this press release, other than 
statements of historical facts are forward-looking statements. Although the 
Company believes the expectations expressed in such forward-looking statements 
are based on reasonable assumptions, such statements are not guarantees of 
future performance, and actual results or developments may differ materially 
from those in the forward-looking statements. Forward-looking statements are 
based on the Company's internal projections, estimated or beliefs, concerning, 
among other things an outlook on the estimated amounts and timing of 
exploration work and capital expenditures or other expectation, beliefs, 
plans, objectives, assumption, intentions or statements about future events or 
performance, which are considered by management to be reasonable at the time 
made. Actual events or results may differ materially. Although the Company 
believes that the expectations reflected in the statements are reasonable, it 
cannot guarantee future results since such results are inherently subject to 
significant business, economic, corporate, political and social uncertainties 
and contingencies. Many factors cause the Company's actual results to differ 
materially from those expressed or implied in any forward looking statements 
made by, or on behalf of, the Company and the foregoing stated factors are not 
exhaustive. The statements contained herein are made as of the date hereof and 
the Company disclaims any intent or obligation to update publicly any forward 
looking statements, whether as a result of new information, future events or 
results or otherwise, except as required by applicable law. Company 
shareholders and potential investors should carefully consider the information 
contained in the Company's filing with Canadian securities administrators at before making investment decisions with regard to the Company. 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 
Canada Alan Friedman Exec. Vice President +1 416 250 
Julia Maxwell Manager, Investor Relations +1 416 361 2211 
Israel Irit Radia Corp. Dev. Arad Communications 
+972-3-7693333 or +972-54-6699311 
SOURCE: Adira Energy Ltd. 
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CO: Adira Energy Ltd.
ST: Ontario
-0- Dec/27/2012 15:49 GMT
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