Financial Levers Unit Approves Drilling at ‘Yam 3’ Site

Nov. 3 (Bloomberg) -- Financial Levers Ltd. said a 23 percent-owned unit has decided to drill “Yam 3” at the Shemen/387 license. A budget was set at $85 million and that drilling may begin in the third or fourth quarter of 2012, according to a statement filed today with the Tel Aviv Stock Exchange.

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To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Susan Lerner at slerner2@bloomberg.net