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Globe Exploration Falls Most in 6 Weeks as Drilling Delayed

April 17 (Bloomberg) -- Globe Exploration LP dropped the most in more than six weeks after the oil and gas explorer postponed drilling of the Ofek 1 well to as late as Aug. 1 because it needs to import a new drill.

The shares declined 6 percent, the biggest drop since March 3, to 0.047 shekel at the 4:30 p.m. close in Tel Aviv, giving the Ramat Gan, Israel-based company a market value of 49.6 million shekels ($14.5 million).

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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