Adira Energy Ltd. is a listed Canadian domiciled, oil & gas exploration and development company.

The main investors in Adira are the BRM Group of Eli Barkat, the Lapidot Group of Helman Aldubi, the Investment Fund Quantum Partners, managed by Soros Fund Management that belongs to the billionaire George Soros who invested $6.5 million in the company

Adira Energy has been granted petroleum licenses on and offshore Israel:

“Eitan License” covering 31,060 acres (125,700 dunam) in the Hula Valley located in northern Israel with indications of natural gas*. License issued in December 2008 for initial 3 years renewable for a further 4 years.

“Gabriella License” covering 97,000 acres (392,000 dunam) approx. 10km offshore Israel between Netanya and Ashdod, with indications of oil. License issued in July 2009 for initial 3 years renewable for a further 4 years.

“Yitzhak License” covering 31,555 acres (127,700 dunam) approx. 17km offshore Israel between Hadera and Netanya, directly to the North of and contiguous to “Gabriella License”, with indications of oil*. License issued in October 2009 for initial 3 years renewable for a further 4 years.

In the June 2010 Petroleum Council, Adira was also granted part of the Samuel License. About the Samuel License – The Samuel License area is located adjacent to the coast of Israel and runs between Ashkelon and Bat Yam. The Samuel License is contiguous and south east of the Company’s Gabriella License. The license area is in shallow water with many of the key targets in less than 100 meters of water. Shallow water drilling significantly decreases drilling costs and operating risks and allows the Company to make use of jack up rigs. The prospects are located along the existing Mari B pipeline and close to shore providing a significant cost and time savings in the full development of this prospect. The Samuel License has been granted for an initial period of three years.