Ness Energy
International, Inc. announces Commencement of Drilling
Operations on the GAD-1 Offshore well in Israel
WILLOW PARK, TEXAS,
U.S.A./NETANYA, ISRAEL,
September 26, 2005 /PRNewswire-FirstCall/ — Ness Energy of
Israel, a wholly-owned subsidiary of Ness Energy International,
Inc. (OTC BB: NESS), today, announced that Modi’in Energy
Limited Partnership (“Modi’in Energy”) released information in
Israel on September 25, 2005 regarding the commencement of
drilling operations on the Gad-1 off-shore well off the cost of
Israel in the Mediterranean Sea.
Isramco, the drilling operator, announced that the Atwood
Southern Cross off-shore drilling unit spudded the well on
September 25, 2005. The well is located in approximately 100
meters of water and the planned well depth is 2,600 meters. The
target production is natural gas.
The timetable for drilling operations is approximately 30 days.
Once the target depth is reached it will be determined if a flow
test will be performed at that time. The project is budgeted at
an estimated $16.7 million US dollars.
Modi’in Energy owns 0.42105% of the project. As previously
disclosed, Ness Energy is indirectly holding, through other
corporations, 90% of the General Partner of Modi’in Energy. Ness
Energy also, on a consolidated basis, presently owns 14.93% of
Modi’in Energy.
About Ness-The Vision
Ness Energy is an aggressive, emerging oil and gas company
building on deals that make sense. Ness Energy operates
interests in the Ft. Worth Basin and the Coastal Plains regions
of Texas. Ness is also a very active player in the energy
industry in Israel, carrying out The Vision of The Company. Ness
Energy is building at a high-speed pace through Merger,
Acquisitions, Drilling, Re-Work and Re-Entry.
Forward-Looking Statements
This news release includes forward-looking statements. Actual
results could differ materially from those contemplated by such
forward-looking statements as a result of any number of factors
and uncertainties, many of which are beyond the control of the
company. Important factors that could cause actual results to
differ materially from those in such forward-looking statements
are enumerated in the company's registration statement filed
with the Securities and Exchange Commission. Undue reliance
should not be placed upon any forward-looking statements, and
the company undertakes no obligation to update those statements.
CONTACT:
Ness
Energy International, Inc.
Tina
Sbriglia – Investor Relations
(817)
341-1477 or info@nessenergy.com
Visit us
on the web at
www.nessenergy.com