On 4 July 2019, Energean Oil & Gas plc announced that it had entered into a conditional sale and purchase agreement to buy Edison Exploration & Production S.p.A. (Edison E&P) from Edison S.p.A. The acquisition is subject to shareholder and regulatory approvals. Edison E&P operates the Royee (399) offshore exploration licence in Israel. The licence covers an area of 399.1 sq km in the Levantine Basin. An offshore exploration well is planned for drilling in the licence in the second half of 2019. In late May 2017, the partners released a resources report for the Royee prospect in the licence. According to the report by NSAI, the prospect has best estimate potential resources of 3.4 Tcf of gas with low and high estimates of 2.0 Tcf and 5.5 Tcf respectively.    Ratio Oil Exploration Ltd Partnership announced on 16 June 2013 that it had signed a joint operating agreement with Edison International SpA whereby Edison assumed operatorship of the licence. The Petroleum Commissioner originally awarded the licence to Ratio on 15 April 2013. On 17 June 2019, Ratio Oil entered into an agreement whereby it will sell a 10% interest in the Royee (399) offshore exploration licence to private company, Unibin Capital Ltd. Ratio had previously agreed in March 2019 to sell a 24.99% interest in the licence to Delek Drilling Ltd Partnership. Following receipt of necessary approvals for both transactions, interests in Royee (399) will be Ratio Oil (35.01%), Delek Drilling (24.99%), Edison International SpA (20%, operator), Israel Opportunity Oil & Gas Exploration Ltd Partnership (10%) and Unibin Capital Israel (10%).
Energean Oil & Gas plc announced that it had entered into a conditional sale and purchase agreement to buy Edison Exploration & Production S.p.A. (Edison E&P) from Edison S.p.A. 