WILLOW PARK, Texas - Ness Energy International (OTC BB:NESS) said today that it is in final negotations for a 10% interest in an already-discovered gas field located off shore in Israel.
The field is being developed by an Israeli energy company.
Ness did not release further details of the transaction due to confidentiality restrictions.
It is anticipated that the field will generate near-term revenues from past and future exploration and development activities.
"We are quite excited about this attractive prospect," said Hayseed Stephens, Ness Energy's CEO. "Our work on the Masada Lease and the relationships we have developed with senior members of the Israeli cabinet are now beginning to pay off.¿
"We anticipate that we will shortly announce significant additional agreements with prominent Israeli energy companies as we pursue our mission to develop an independent source of wealth for the Christian community and Israel."