SWA advises Israel Land Development Company – Energy on its Investment in GeoGlobal Resources

July 30, 2012 ,

SWA advised The Israel Land Development Company – Energy Ltd. (ILDC Energy) on the U.S. legal aspects of its acquisition of a controlling stake in GeoGlobal Resources Inc. (GGR).

Dov Schwell, head of SWA’s Securities practice group, led the SWA team, assisted by attorneys Ely Kronenberg and Daniel Baron.

ILDC Energy is a public company listed on the Tel Aviv Stock Exchange which engages in the exploration and production of oil and gas in Israel and abroad.  The Company holds two offshore drilling licenses:  “Myra” and “Sara”. The Myra and Sara license sites are spanning 400 square kilometers, within Israel’s economic waters, located approximately 40 km west of Hadera, south of the Dalit and Tamar gas deposits.

GGR is a U.S. publicly traded oil and gas company which is an operator for exploration and production of oil and gas reserves with experience in deep water and onshore drilling and is currently active in Israel, India and Colombia.   GGR will be using this investment to proceed with the drilling in the Myra and Sara Blocks.