Ratio was established in 1993 and has hitherto (2010) carried out 17 drillings at a total cost to itself of 100 million shekels. The chairman of the board is Yishayahu Shaike Landau.

Ratio is a TASE public traded L.P. which currently holds interest of 12.3% in the Med Yavne lease, 25% in the Sarit License, 10% of which they bought in 2010 from Lapidoth-Heletz for $160,000 + VAT (the rest is held by Lapidoth-Heletz 52.5% and Modiin Energy 22.5%), 15% in Rachel, Amit, Hanna, David and Eran licenses (the remainder is held by Delek, Avner and Noble) and a 100% in the Gal preliminary permit which was awarded to them in February 2010. The Gal permit is located 150 West of Netanya and spans 1.77 million duman. The new permit was granted to them until the 15th August 2011 during which period they will have to fulfill a number of milestones including buying existing 2D seismic survey and analyzing it, carrying out another 2D survey at a cost of $3.6 million and submitting a final report to the Petroleum Commissioner including an appraisal of a prospect they wish to carry forward for drilling.

At the end of 2009 Delek and Noble and Ratio carried out 3D surveys in their license called whale or Leviathan. The rights in the Leviathan license are held by Noble (39.66%), Delek Drilling and Avner (22.67% each) and Ratio (15%). The 3D also surveyed the entire five exploration sectors: Amit, Rachel, David, Hanna and Eran

Ratio used to hold 0.42% in Med Ashdod Lease and 10% in each of Asher Yam South, Asher Yam North and Zohar and were partners in the Aviv Licence which expired in January 2003. In addition to the 0.42% purchased interest in Med Ashdod, Isramco assigned to Ratio an additional 2.08% (out of 100%) from the participation in Nir-2 well drilling (plus an option for an additional 2.5%). Those rights were assigned with no past costs coverage, but it was agreed that should drilling be successful, Ratio will pay Isramco $125k for every 1% of rights in the drilling, which will be paid out of the JV profits on the gas sale.