Adira Energy Ltd. is pleased to announce that it has received approval from Israel's Petroleum Commissioner for the farm-out of 25% of its interest in the Yitzhak license (the "License") to the AGR Group and Ellomay Oil and Gas 2011 LP, pursuant to a series of Farm-Out Agreements announced on December 5, 2011.
The Agreements are now unconditional and effective.
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