Ness Energy International’s Chief Executive Officer Hayseed Stephens has extended his trip in Israel for the second time in anticipation of completing the acquisitions of two properties in the Southwest area of the Dead Sea in Israel. The acquisitions are expected to be a focal point of the company's current activities.
"It has always been our plan to build a significant oil and gas position in the Dead Sea area," said Stephens. "It appears that we are in the final stages of negotiating the two acquisitions. I believe that these properties will enable us to aggressively begin production in Israel. The timing could not be better. Because of geopolitical tensions, the price of oil has surged, along with natural gas due to supply imbalances.”
The company has formed close relationships with both Israeli energy executives and government officials to support these efforts. These parties have, and are expected to continue to serve, as potential sources of land acquisition opportunities. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
