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Israel Opportunity Rises to Highest in Week on Pelagic Prospect

June 17 (Bloomberg) -- Israel Opportunity Energy Resources LP advanced to the highest level in almost one week after a report on the Pelagic offshore field identified a new prospect that could include about 530 million barrels of oil.

The shares advanced 2.7 percent to 0.229 shekel, the highest intraday level since June 11, at 11.44 a.m. in Tel Aviv.

Israel Opportunity said the report gave a 12.3 percent geological probability to the oil prospect and the field may also include about 500 million barrels of condensate, according to an e-mailed statement today.

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

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

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