Genie Energy Stock – Golan Heights Oil Discovery Could Shake Middle East Politics

“U.S. energy company Genie Energy Ltd. (NYSE:GNE) jolted almost 20% on the New York Stock Exchange today as the company announced it has found oil in the southern Golan Heights, an Israeli-occupied and disputed territory in southern Syria.
In an interview with Israel’s Channel 2, geologist Yuval Bartov, in charge of exploration for Afek Oil & Gas, the actual operator of Israel’s oil discovery, pointed out that the deposit is unique. It is contained in layers averaging between 20 to 30 yards in thickness. (Source: “Major oil reserves discovered in the Golan Heights,” Jewish Telegraphic Agency, Oct. 7, 2015.)”


Categories: Development

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