New Board MembersIn accordance with the terms of the Investment Agreement entered into between the Company and DKL, DKL has nominated Mr Joseph Asaf Bartfeld, President & Chief Executive Officer of Delek, and Mr Yosef Abu, Chief Executive Officer of Delek Drilling Ltd. as Non-Executive Directors and members of the Ithaca Board of Directors with immediate effect (subject to standard TSX procedures with respect to the approval of these Non-Executive Directors).
Delek Group is enormous by any measures. As per their statement from their web site, they did $11Bil USD in revenue in 2012. They literally came to life with the establishment of Isreal over 60 years ago. Delek Group is an itergral piece of Isreal and is the key to Isreal reaching energy independence. Mr. Joseph Asaf Bartfeld is the President and CEO of Delek Group Ltd. Mr. Bartfeld is what you would call a heavy hitter in the international oil and gas industry.
So why in the world would such a high level executive be sitting on the BOD of IAE unless Delek Group intended to make IAE it's first purchase through Navitas Petroleum in the North Sea. If Delek Group only saw IAE as an investment then there would be absolutely NO REASON for an executive of Mr. Bartfeld's stature to be sitting on this BOD. It makes no sense unless they see IAE as such an important first international purchase, that it would warrant Mr. Bartfeld's personal attention.
For me, Delek will be purchasing IAE through Navitas Petroleum sometime over the next 9 months give or take.