Sept. 3 (Bloomberg) -- Israel Land Development Co. Energy Ltd. surged the most since the shares were listed in Tel Aviv and Modiin-LP jumped ahead of drilling results expected this week from the Myra 1 well in which the gas and oil explorers own stakes.
The shares in Israel Land Development Co. Energy soared 34 percent, the most since 2010, to 0.47 shekel at the 4:30 p.m. close in Tel Aviv. Modiin climbed 15 percent to 0.226 shekel. The benchmark TA-25 index gained 0.5 percent.
“The anticipation of the initial findings of the results of the drilling at the Myra 1 well is what is pushing up the shares,” Richard Gussow, an analyst at DS Securities & Investments in Tel Aviv, said by phone today.
Israel Land said Aug. 27 that it expects to reach target layers at the well in the first week of September.
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