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Last update - 13:52 05/10/2006 Israeli company discovers oil at drilling site near the Dead Sea By The Associated Press and Haaretz Service An Israeli company has discovered a small amount of oil at a drilling site near the Dead Sea, raising hopes that Israel could one day join its regional neighbors as a petroleum producer. Initial tests have found that the site would yield between 100 to 150 barrels daily, said Eli Tannenbaum, geologist for the Ginko oil exploration company. While this is minuscule by global standards - No. 1 producer Saudi Arabia produces 9 million barrels a day - Tannenbaum said there are signs that larger amounts of crude are nearby. Advertisement "There is high pressure and there was a flow yesterday, there was a free flow... All this is evidence that there is oil there," Tannenbaum said. He said the company also found a hydrocarbon, or oil, trap about 2 kilometers (1.2 miles) north of the original site. "It appears there will also be oil there in much higher quantities," Tannenbaum said. Ginko, a private company, will begin drilling in the second location in the coming months, he said. Ginko abandoned the original drilling site in 1997 when oil prices were about $15-$20 a barrel. It revisited the site recently because oil prices have quadrupled since then, Tannenbaum said. Energy expert Amir Mor said hundreds of thousands of abandoned oil fields worldwide have been revisited in recent years due to the spike in prices, which can make it profitable to produce even a few hundreds barrels of oil. However, he said, it was unlikely the new Dead Sea location would yield more than a few hundred - possibly a few thousand - barrels a day. Strategically, this is meaningless to Israel - which consumes about 220,000 barrels of oil daily, Mor added. Israel has produced only 20 million barrels of oil in the last half-century - less than what the Saudis produce every three days Bookmark to del.icio.us   Terror online Israel posts clips on YouTube of J'lem yeshiva terror attack. Remembering Gaza Knesset approves bill to commemorate the Jewish settlements of Gush Katif.   1.   Here`s Hoping 12:56  |  Natallie Durson 05/10/06   2.   Oil discovery near Dead sea 13:22  |  Jacob 05/10/06   3.   if only Moses had taken a right turn 13:25  |  SJ 05/10/06   4.   #1 13:41  |  Barrie 05/10/06   5.   Israel Oil 13:51  |  Brod 05/10/06   6.   NATALIE DURSTON The Arabs are already oil rich.2-3* as many USA 13:59  |  PETER SM 05/10/06   7.   Why does America GIVE money?? #1 14:01  |  William 05/10/06   8.   to #1, world power=global obligations. 14:02  |  libra 05/10/06   9.   Chosen People 14:03  |  American for GOD 05/10/06   10.   This oil belongs to the Palestinians! 14:04  |  Clickfool 05/10/06   11.   Hopeful and worrisome for numerous reasons 14:08  |  William 05/10/06   12.   # 10 14:15  |  ChanahS 05/10/06   13.   # 10 14:15  |  ChanahS 05/10/06   14.   To clickfool #10 14:15  |  William 05/10/06   15.   #1 14:16  |  ChanahS 05/10/06   16.   To the Pro-Pals on this site 14:17  |  William 05/10/06   17.   NATALLIE OH NATALLIE 14:19  |  Brant 05/10/06   18.   #10, Clickfool 14:24  |  Fritz 05/10/06   19.   William#14 14:51  |  Peter Dale 05/10/06   20.   #10 Clickfool`s oil 15:01  |  Nora 05/10/06   21.   Sell it to the Chinese 15:09  |  Jeroen 05/10/06   22.   @3 Moses 15:11  |  Jeroen 05/10/06   23.   to 5 15:19  |  * TALKBACK OBSERVER* 05/10/06   24.   #10 Clickfool Crap 15:29  |  Brod 05/10/06   25.   William 15:30  |  Itsik 05/10/06   26.   I see how it happened 15:33  |  Clickfool 05/10/06   27.   to the europeans, will and cfool 15:43  |  jack 05/10/06   28.   CLICKFOOL evidence please for your assertion.? 15:47  |  PETER SM 05/10/06   29.   Fritz 15:51  |  Margie in Tel Aviv 05/10/06   30.   You said equity ? Let`s see... 15:58  |  Yankelowitz 05/10/06   31.   Israel OPEP member? 15:59  |  jean marie 05/10/06   32.   By the way... 16:03  |  Yankelowitz 05/10/06   33.   Oil discovery and jealousy 16:04  |  Harvey 05/10/06   34.   Stealing Underground Water, now Oil 16:08  |  AJ 05/10/06   35.   $ vs. Dead Sea 16:19  |  Jon 05/10/06   36.   Curse and not a blessing 16:34  |  Gus 05/10/06   37.   Curse and not a blessing 16:34  |  Gus 05/10/06   38.   #10fool-THE HOTHOUSES IN GAZA MADE MORE MONEY THAN THIS OIL yet.. 16:40  |  Mitch Iginer 05/10/06   39.   Clickfool. 16:46  |  David Nigel Braham 05/10/06   40.   it`s palestinian oil 16:49  |  * TALKBACK OBSERVER* 05/10/06   41.   Interesting 17:07  |  Danite 05/10/06   42.   David, you live really in Milan?Me too 17:12  |  jean marie 05/10/06   43.   Polluting the Dead Sea 17:13  |  Peter SM 05/10/06   44.   Amrica Will invade 17:14  |  Michael 05/10/06   45.   For David Nigel Barham #39 17:19  |  Clickfool 05/10/06   46.   Israel is sitting on a world class reserves 17:25  |  Mike 05/10/06   47.   i agree with Michael 17:30  |  Tatiana 05/10/06   48.   good news 17:31  |  sandy 05/10/06   49.   Israeli "stupidity" 17:51  |  Realistic Arab 05/10/06   50.   Terrible News 17:51  |  Eldar 05/10/06   51.   Change Something Clickfool 17:58  |  NoWorries 05/10/06   52.   I;ve known for years that Israel 17:59  |  gerald 05/10/06   53.   For No Worries # 51 18:40  |  Clickfool 05/10/06   54.   Israeli Oil (Lake Asphaltus-Lake of Fire) 20:34  |  Mike 05/10/06   55.   to clickfool and Fritz 15:25  |  ugh 06/10/06   56.   Israel doesn`t need this 15:29  |  Marco 06/10/06   57.   USA Oil Company is Selling.... 17:36  |  Mike 06/10/06   58.   israels oil 20:34  |  gerardo perez 06/10/06   59.   Saudi Oil 01:13  |  Christian 30/03/08

Today Online Dutch MP's anti-Islam film shows clerics' calls to behead Jews Responses: 567 Hamas gets Iranian plans for improved Qassams Responses: 152 Avigdor Lieberman: Israel's minorities must be loyal to the Jewish state Responses: 118 UN: Ex-Lebanon PM Hariri killed by criminal network Responses: 112 Ex-Muslim says converted to Christianity due to Islam's anti-Zionism Responses: 156 Rosner's Domain 38% for pressuring Palestinians, 25% for pressuring Israel (WTR) Bush is still determined not to repeat Clinton's mistakes Poll: what percentage Jews will vote McCain? New pro-Israel-pro-peace dovish lobby ready to launch (WTR) Obama rejects advisor's comments on American Jews and peace process More Headlines 02:11 Top official: PM has communicated with Assad to test his desire for peace 03:04 UN wants UNIFIL to have full responsibility in northern Ghajar 00:35 Rice arrives in Israel, urges improvements in West Bank life 01:04 Anti-Syrian protesters march in Beirut in wake of Arab summit 01:37 UN officials: Syria still suspected in Lebanese PM murder case 22:24 Meshal: Shalit talks deadlocked due to Israeli intransigence 02:51 Genealogy Web site attempts to map out entire Jewish people 01:19 Palestinians: IDF kills 2 Gazans; 4 others wounded in IAF strike 10:53 Obama likens his foreign policy to that of Bush Sr., JFK, Reagan 20:13 Israeli Arabs mark 32nd annual Land Day with Wadi Ara, Negev protests 20:47 3-year-old boy critically injured as father runs him over 22:16 At Syria summit, Abbas calls for Arab troops in Palestinian territories 14:06 Security guard, 62, found dead in Tel Aviv; police suspect murder Previous Editions Select Day 28 mar 27 mar 26 mar 25 mar 24 mar 23 mar 21 mar 20 mar 19 mar 18 mar 17 mar 16 mar