Globe Exploration Falls Most in a Month on Postponed Drilling

Globe Exploration LP dropped the most in more than a month after the oil and gas explorer postponed the drilling of the Ofek 1 well to as late as August 1 because it needs to import a new drill.

The shares declined 6 percent, the biggest fall since March 15, to 0.047 shekel as of 11:19 a.m. in Tel Aviv, giving the Ramat Gan, Israel-based company a market value of 49.6 million shekels ($14.5 million).

Editors: Digby Lidstone, Susan Lerner.

To contact the reporter on this story: Ronit Goodman in Tel Aviv at rgoodman9@bloomberg.net.

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net.

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