22 July 12 15:23–Cyprus Opportunity Energy plc (CSE: GAS), a subsidiary of Israel Opportunity – Oil and Gas Exploration Ltd. listed its shares for trading on the Cyprus Stock Exchange last week, at a market value of €14 million. Sources inform ”Globes” that Cyprus Opportunity plans to hold a public offering in 2013. It is a sister company of Israel Opportunity Energy Resources LP (TASE: ISOP.L).
Cyprus Opportunity is controlled by Israeli, Norwegian, and Cypriot shareholders. The Israeli shareholders are Rony Halman and Uri Aldubi, the general partners of Israel Opportunity. The Norwegian shareholders are the owners of AGR Group Inc., which is jointly bidding with Cyprus Opportunity for two of the offshore exploration licenses that the Cypriot government is offering – Block 2 and Block 8.
The two companies submitted their bids on May 11, as part of the 2nd Licensing Round tender for 12 offshore licenses. Cyprus Opportunity acquired 2D seismic data on which it has already performed preliminary analysis as part of its business strategy. The Cypriot government is due to publish the results of the tender in November. Cyprus Opportunity says that even if it does not win in the tender, it will continue to operate in the Cypriot offshore oil and gas exploration business through joint ventures with third parties…Read More>>